With an increasing number of foreign nationals moving to Spain, it is becoming more common to inherit or receive gifts of assets located abroad. If this applies to you, it is essential to understand where these transactions are taxed to ensure compliance with your tax obligations. Who pays tax and to whom? Unlike in other … Read more
If you or your business are located in one of the areas affected by the devastating Dana storms at the end of October 2024, several fiscal measures have been approved to help mitigate the damage and support recovery efforts. These measures include tax reductions and deadline extensions to ease financial burdens during this difficult time. … Read more
Starting 1st January 2025, the VAT rate on electricity bills in Spain has returned to the standard 21%, bringing an end to the temporary reductions implemented during the recent energy crisis. These tax breaks, which lowered the VAT rate to as little as 5% during peak periods of rising energy costs, were introduced to ease … Read more
Spain’s tax inspectors accused of being unreasonable and abusive towards Beckham Law beneficiaries in an advertisement published in the Financial Times of the UK. An action group is being organised.
In the coming days, professional advisors will receive a Social Security notice listing their self-employed clients who made contributions in 2023 that were higher than needed, as determined by their net computable income for 2023. This arises because 2023 saw the introduction of the radically different social security contributions system that is based on the … Read more
The holiday rental obligations explained in detail
In today’s competitive employment landscape, offering attractive compensation packages is more important than ever. Flexible salary arrangements have emerged as a forward-thinking strategy that not only enhances employee satisfaction but also optimizes tax efficiency. These arrangements allow companies to offer non-monetary benefits to their employees, such as health insurance, childcare, and pensions, without incurring additional … Read more
Since 2019, Spanish labour law has required all companies with employees to keep a detailed record of working hours. These records must be stored for a minimum of four years and made available for labour inspections. Until now, businesses have had the flexibility to maintain these records either on paper or via digital systems. The … Read more
Hiring employees in Spain involves navigating a complex legal and regulatory environment, with various rules and requirements in place to protect both workers and employers. The Spanish labour framework is governed by the Spanish Constitution, the Workers’ Statute, and sector-specific agreements, providing legal clarity but also making the process bureaucratically demanding. Employers can choose from … Read more
When it comes to the probation period in employment, things aren’t always black and white. This initial phase lets both employer and employee size each other up and decide if they’re a good fit for the long haul. While generally either party can walk away without giving a reason, a few guidelines should be kept … Read more
Copyright © 1985 - 2026 Spence Clarke & Co.
The Income Tax and Wealth Tax Declaration campaign is now underway. All tax residents of Spain are reminded that Income and Wealth Tax Declarations must be filed no later than 30 June.
In addition, Great Fortunes Tax Declarations must be submitted by 31 July.
Please contact us if you would like assistance, as we can prepare and file the declarations on your behalf.
Companies in Spain are reminded that Corporation Tax Declarations must be filed by 25 July.
Submitting the declaration within the official deadline is important to remain compliant with Spanish tax regulations.
We are available to assist with the preparation, review, and filing of your Corporation Tax Declaration.
