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
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
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
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
The Spanish Government intends to approve a number of changes in legislation to strengthen the tax office’s armoury against the black economy and tax fraud. They propose to modify the Penal Code so that substantial tax fraud may be penalised with up to 6 years (currently four years) in jail. In the Spanish system ‘substantial … Read more
Since the publication of the ‘grey list’ by the Organisation for Economic Co-Operation and Development (OECD) in April 2009, the number of countries included on the list has decreased from 35 to 16. 19 countries have signed at least 12 different agreements of exchange of fiscal information with different countries. The signing of these agreements … Read more
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