More than 90 countries have now signed up to the automatic information system, including most tax havens and the other bad boys like Switzerland, Austria, Luxembourg and Cyprus (to name but a few!). There is now no place left to hide except places where you would have to be very brave to leave your money. … Read more
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
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
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
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
The latest fashion for the wealthy in Spain is to find another country to pay income tax. I was enjoying a pleasant lunch overlooking the paseo marítimo in Marbella in the company of Max, a client of many years. We were reflecting on how wonderful life is in Spain and remembering the dismal weather and … Read more
Here are details of the Stick that followed the tax amnesty Carrot. If there was ever a piece of tax law that needed thought, this is it! 2012 proved to be one of the most exhausting years in terms of the amount of new law. New tax regulations were certainly one of the main focuses … Read more
A few weeks ago the Spanish Government introduced another important tax incentive for property purchasers in a bid to kick start the moribund property market and help the banks get rid of their stock of repossessed properties. It is worth comparing Spain’s property tax incentives to the massive French tax increases on foreign property owners. … Read more
Spanish taxpayers have been given their last chance to clean up their tax affairs. New measures, just introduced by Rajoy’s Government, provide taxpayers with an amnesty for tax fraud. They can now declare previously hidden income and assets by paying a flat 10% one off tax charge. The deadline for the amnesty is 30 November … 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
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