The dubious sight of well-paid businesspeople walking away from soon to be bankrupt companies—but not before pocketing millions of Euros (in some cases hundreds of millions of Euros)—rightly raised a stink, particularly with those less fortunate employees who lost their jobs and shareholders who lost their money. It was even more unedifying when directors at … Read more
Those of you who have lived in Spain for many years will probably have been regaled in the past with tales of how people had managed to escape tax liabilities by buying their properties through ‘holding companies’. In fact such ‘bar stool experts’ offering dubious advice still exist—although it is highly doubtful that they are … Read more
“In this world nothing can be said to be certain, except death and taxes.” So said American founding father Benjamin Franklin but, in the case of Spain, such a view could be seen as a little simplistic. Yes, everyone dies at some point and then inheritance tax will be due, but how much and where it … Read more
Spain is one of a number of countries that charge tax on unrealised capital gains when their tax residents leave the country, and it has had a new law in place since January 1, 2015. We have set out a series of Q & As to answer your basic queries about how this law might … Read more
The Spanish Government recently announced new measures to fight against the black economy in Spain, unofficially 28% of the Spanish GDP. Who are the targets and will these measures work? The Spanish Government recently published the action plan to be carried out by Spanish tax inspectors during 2014 to reduce the Spanish black economy. This … Read more
The Spanish social security system is difficult for foreigners to understand and is extremely expensive for employers. The good news is that the government has at last introduced some meaningful employment incentives in the 2014 social security system. They really broke the mould with these incentives, well 50% broke anyway, as one of the new … Read more
From 2014, the possibility of filing the tax declarations by hand will gradually be disappearing, so that they only can be submitted by internet. Last year the Spanish Government announced that the tax law would be modified so that, from 1 January 2014, all tax declarations can only be submitted electronically, so the possibility of … Read more
The Spanish Government has approved the Budget for 2014. No surprises, the tax system will remain as it has been for 2012 and 2013. Far sighted policies that will generate growth and employment seem as remote as ever. Many argue that “Spain is different”. They mostly refer to the country’s wealth in traditions and culture, … Read more
A fairly simple answer to that question is that Spain is Spain. Everything takes longer and involves more red tape than most other countries in the civilised world. However, there is light at the end of the tunnel. The time scales are improving. Two years ago, it took six weeks to set up a new … Read more
When I heard that Spain was bringing in a new VAT cash accounting system, I was stunned. The first thought: how very progressive for Spain. However, then I read the law and how it will work, I quickly changed my mind, it would seem that the lawyers and governmental bureaucrats who wrote the law just … Read more
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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.
