There is much in the news today about various firms of auditors being appointed to analyse the real bad debt situation that has caused the banking crisis. As a small scale Spanish auditor myself, I can’t help think that something has gone seriously wrong in the audit profession in Spain and it amazes me that … Read more
Expats take note! There are times to give thanks to the much maligned Spanish adminsitrative system. The legendary labyrinthine, under resourced and inefficient administrative system of Spain sometimes works to the benefit of the many expats in Spain. Non resident property owners are meant to pay annual income tax. “But I don’t rent out my … Read more
Alistair Spence Clarke28/11/2011 An article in a blog I was reading this weekend caught my eye and I decided to do some digging. After a few minutes, what I have long suspected about the bank’s holdings of defaulting loan assets became crystal clear. The last property crash in Spain happened in the early 1990s, at … Read more
Election day on Sunday 20th November should produce a dramatic change in Government for Spain. But what will this mean? On Sunday, the Partido Popular, the centre right political party is expected to romp home with an overall majority of the 350 member Congress of Deputies, Spain’s lower legislative house. The newspapers predict that the … Read more
What makes a resident of Spain a tax resident of Spain? It is an important question and misinformation arises everywhere, not least in the press, over a beer in the golf club, just about anywhere, in fact. I came across this gem of an article in one of the local newspapers. This reminded me of … Read more
The European Commission made official complaints against Spain in May 2010 and February 2011 regarding its Inheritance tax legislation. These complaints were ignored and so the EC has commenced an action against the Spanish state through the European courts. Spain’s tax system has become decidedly odd. A little background will help to understand what has … Read more
Over the last few year or so we have heard that various governments have licitly and not so licitly managed to get hold of lists of people with bank accounts in funny places. What has become apparent is that these lists are being shared with the tax authorities of any interested country. Well Spain has … Read more
Thoughts on alternate realities…Or was he thinking of the Maginot line? Lets hope Sarkozy’s imaginary line will hold for longer than the Maginot line that proved useless within a few days to repel a German invasion. The phrase ‘wishful thinking’ comes to mind. If only politicians could create reality. If only. France’s top man, praised … Read more
Many will remember that happy day in December 2008 when the Spanish Government eliminated Wealth Tax, or so it was thought! The idea in 2008 was to make Spain a more attractive economy and do away with an archaic tax that has its roots in 1977 when inflation and interest rates were in double figures, … Read more
In yet a further attempt to stimulate small business growth, from 15 June 2010 and until 31 December 2011, small companies and self employed would now be able to receive finance easier from ICO (Instituto de Crédito Oficial) than a bank. These loans started on 15 June 2010 and will run until 31 December 2011. … Read more
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