In Spain, companies showing profit in their last Corporation Tax filed, are required to make advance payments for their next Corporation Tax, in three instalments a year: in April, October, and December. These payments can be calculated using two methods outlined in Articles 40.2 and 40.3 of the Corporation Tax Law. Choosing the appropriate method … Read more
Supreme Court Ruling Could Lead to Higher Compensation for Workers in Disciplinary Dismissals A recent ruling by the Spanish Supreme Court (TS) has made a significant change to employment law, potentially leading to higher compensation for workers who face unfair disciplinary dismissals. On 18 November, the Court decided that companies must now give workers a … Read more
Prime Minister Pedro Sánchez announced yesterday in a press conference that his government aims to increase the “tax burden” on non-European residents purchasing property in Spain to 100% of the property’s value. While this measure ostensibly seeks to curb speculative investments and alleviate housing shortages for locals, it raises more questions than it answers. There … Read more
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
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