The Inheritance and Donation Tax in Catalonia, Spain
The inheritance and donation tax in Catalonia has modified many of the quantitative elements of the tax in order to make it more effective e.g. an escalation for bonuses are introduced. However, its application of bonuses implies a substantial reduction of other bonuses provided in the tax. Nonethless, this new scenario highlights the necessity to review alternatives for better and efficient taxation.
Practical Aspects of the Purchase of Property in Spain
These simple steps will permit the secure purchase of a property in Spain: verify the ownership of the property, sign a contract with a reserve, protect your purchase by public writing and pay the correspondent taxes depending on whether you’re buying a new property or are acquiring a second-hand one.
Impact of European Data Protection Reform on small and medium sized enterprises in Spain
The data protection reform will reduce costs related to data collection for SMEs. The benefits will allow Small and Medium Sized enterprises in Spain to strengthen their role on the global market thus helping them to expand their business abroad.
Main Innovations of the Inheritance Tax in Catalonia, Spain
There are four different groups for the innovation of percentages of reduction for kinship in acquisitions made as a result of death. It also offers different percentages of reduction for tax liability and the reduction for the acquisitions of goods and rights.
Types of Wills in Spain: Common or Special
A will is a legal act in which the deceased or testator disposes of his or her property, rights, and obligations. According to the State, the modalities of wills may vary. In Spain, the Spanish Civil Code regulates wills, which creates differences between the common and special wills.
Penalty System of the Spanish Law on Protection of Personal Information
Following the reform of the penalty system of the LOPD, where authority reverts back to the Spanish Agency on the Protection of Information, both those individuals responsible for the files (organizations that treat personal information directly) and those in charge of the treatment of this information (organizations that handle Personal Information under commission) will be subject to the penalty regime of the LOPD.
Permanent Contract Resulting from the Successive Fixed-Term Employment Contracts in Spain
The prohibition on successive temporary contracts was established once again stating that if a worker completes two or more temporary contracts which amount to more than 24 months out of a total period of 30, this worker becomes indefinite.
Disadvantages of Partnerships in Spain
The most important disadvantage of partnerships in Spain is the unlimited liability of partners for the debts of the partnership. Furthermore, taxation for partnerships is considerably higher. Therefore business owners usually transform the partnership into another type of company.
Advantages of Partnerships in Spain
Before establishing your business in Spain it is advisable to consider which kind of company might best suit your interests and may be your best option. Spain offers different types of business entities to start a business: limited liability company, public limited company, partnership, new enterprise limited company, etc. each one has different set of legal and fiscal responsibilities.
Unapproved Refinancing Agreements in Spain
A new regime is being introduced in order to give some unapproved refinancing agreements judicial validity. The new regime will enter into force before the effective date of the Real Decree Law; however, the previous regime will still apply unless the parties choose otherwise.
