A New Law for the Self Employed (Autonomos) in Spain

Self employed persons (autonomos) and small companies represent 95% of the Spanish economy. In particular, autónomos are very relevant to the growth of the Spanish economy although there have been very few incentives to stimulate the creation of small business from a tax and social security perspective. The Spanish Government made a timid effort in … Read more

The New Obligation of Gibraltar Financial Institutions to Provide Automatic Exchange of Tax Information to The Spanish Tax Office

As part of the recent agreements of exchange of tax information subscribed by Gibraltar for cooperation in tax matters, the Gibraltar financial institutions will be reporting to the Spanish tax office the relevant tax information of all their account holders, including income on earnings, tax withheld and tax residency status. The first reporting will take … Read more

Taxing a rent free commercial property

Picture the scene: with youth unemployment in Spain currently hovering around the 50 per cent mark for under 25s (source Eurostat), you decide to give your son a helping hand by letting him set up business in an empty shop you happen to own. As he is your child and you don’t need the money, … Read more

Taxing times for Spanish inheritance

“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

New Spanish tax inspection campaign

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

Will Wealth Tax in Spain ever disappear?

In previous articles we explained that the Spanish Government reintroduced wealth tax in 2011 as an emergency economic measure. The reintroduction was achieved simply by removing the 100% exemption to the tax that had originally been introduced in 2008. However, the tax was eliminated for the majority of potential taxpayers because a significant tax free … Read more

Latest Economic and Unemployment Crisis Proposals

The Spanish Government, currently the PSOE which is the main centre left party, announced on 1 March 2010 a number of proposals to stimulate the creation of employment and the economy in general. The main proposal is to incentivise property refurbishment which the Government believes will create 350.000 new jobs. Official figures show current unemployment … Read more