If you were unfortunate enough to experience theft or fraud during the previous year, it is important to know that certain losses may be included in your income tax declaration as capital losses, potentially reducing your overall tax liability. Cash losses If your wallet was stolen, funds were taken from your bank account, or your … Read more
Spanish public administrations have taken another step in coordinating their databases to strengthen oversight of benefits, contributions, and tax situations affecting millions of taxpayers — especially self-employed. Agreement Extended Until 2030 The State Tax Administration Office and the National Social Security Institute have extended their collaboration agreement until 2030. This agreement, originally in force since … Read more
In 2026, Spain updates the rules for VAT pro-rata, a system used to calculate the deductible portion of VAT when a business carries out both taxable and exempt operations. For small and medium companies and self-employed professionals, understanding these changes is essential to optimize tax deductions and comply with the Tax Office. This article explains … Read more
The way Spain’s Social Security system manages its annual updates to contribution bases, the Minimum Interprofessional Wage (SMI), and contribution bases has become a clear example of how a lack of planning gradually turns into an accepted feature of the system. The issue is not that these changes are wrong, in fact, they are necessary … Read more
Under Spain’s new system of contributions based on real income, many self-employed workers are now receiving notifications from the Social Security authorities confirming a regularisation of their contributions. In some cases, this means an additional payment must be made. In others, a refund may be issued. While most attention is usually placed on the cash … Read more
Yearly “Información Fiscal” Report If you have a Spanish bank account or hold investments in Spain, your bank will issue a yearly statement known as the “información fiscal”. This report is essential for completing your Spanish income tax declaration, and it should be forwarded to your tax advisor as part of your 2025 tax filing. … Read more
Spain’s Social Security system has expanded the list of medical conditions that allow Employees with disabilities to retire early without a reduction in pension benefits, marking a significant update in disability retirement policy. This measure affects around 50.000 people living with severe health conditions. Official Announcement On 26th of February 2026, the Ministry of Inclusion, … Read more
Tax fraud in Spain is taken very seriously and, under certain circumstances, can constitute a criminal offense. It is essential for individuals and companies to understand the thresholds, risks, and corrective measures available to avoid escalating a tax problem into criminal territory. When Does Tax Fraud Become a Criminal Offense? Tax fraud is classified as … Read more
If your company is a small or medium entity (SME) or a micro-business, it is important to note that the Corporation Tax rate will gradually decrease over the next few years. With the publication of Law 7/2024 on December 20, significant changes have been introduced in the taxation of small businesses, presenting a potential opportunity … Read more
In the business world, there are concepts that sound complex but are actually quite simple in logic. One of these is holding companies. For some, they are a key part of business planning, for others, a ‘legal trick’ to pay less tax. The reality, as is often the case in tax law, is somewhere in … 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.
