The fiscal reform in Spain implies a lowering of tax withholdings for self-employed people whose annual income is lower than 12.000 €. Self-employed workers can benefit from these measures beginning on the 1st of July 2014.
The cuts to tax benefits planned in the draft of the Spanish fiscal reform will affect property acquired before the 31st of December 1994, experts thus expecting a rise in sales.
The new tax reform in Spain lowers the income tax by about 12.5% and provides a deduction for taxpayers with large families, elderly family members, or disabled dependents. This means that these taxpayers will be able to deduct about 1,200 Euros per year, an amount which, depending on the case, may increase.
Regarding International taxation and customs control in Spain, certain concepts have been highlighted such as the abusive use of internal and international regulations, the control actions, the transfer prices as well as other control measures.
Mariscal Abogados participated in an interview on Spanish television and explained how to acquire the Spanish residence permit after the adoption of the Law of Entrepreneurs.
The residence permit, which allows foreign investors to reside and work in Spain, is not difficult to obtain. Foreign investors and entrepreneurs may apply for a residence permit if they meet certain legal requirements, and the investment lasts for the entire duration of their stay in Spain.
Spain passed the Internationalization and Entrepreneur Act, Law 14/2013, which allows foreign investors to obtain a specific permit that allows them not only to work in Spain but also to travel within the Schengen area.
Those foreign nationals who wish to enter or reside in Spain, or those who already reside in Spain, will experience the increased ease of entrance into and residence in Spanish …
When a foreign national wants to purchase property in Spain the foreign national must pay certain fees and taxes. First, there are the notary fees. The different taxes apply depending on whether the sale is of a new home or a resale property. Lastly, a tax on the Registry of the property is also applicable.
Law 121/000052 to Support Entrepreneurs and Internationalization allows foreign nationals to apply for different types of visas in Spain. The main condition among others will be making a meaningful capital investment in the country. The article elaborates on these conditions and the definition of a meaningful capital investment.
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