This highly politically motivated duplicate tax has already resulted in legal actions against the Government and general chaos for those concerned about tax planning for the wealthy in Spain.
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
Spain is very active in signing new tax treaties and updating some old treaties, unfortunately not necessarily for the benefit of the individuals investing in Spain. Double Tax Treaties are bi lateral, supranational laws that regulate the way that foreigners are taxed on assets and income of the other country. Generally speaking where both countries … Read more
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
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
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
The Spanish Government has enabled its ICO (Instituto de Crédito Oficial) to grant loans of up to 200.000 € directly to small businesses, bypassing the high street banks. The question is will a Government department do any better at providing financial help to small businesses than a typical bank? We shall see… The Royal Decree-Law … Read more
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