Tax evasion and the sanctions regime for foundations in Spain
In order to fight tax evasion only foundations respecting legal requirements will be entitled to receive subsidies and fiscal advantages in Spain.
Simplification of the granting of the golden visa in Spain
In September 2014, the Spanish government adopted a law to support entrepreneurs; fifteen months later, it is considering adopting seven new measures that will simplify the administrative steps for granting this golden visa or residential permit in Spain.
The tax treatment in Spain on partners’ remuneration
One of the most important novelties introduced by the reform of the Law on Income Tax in Spain concerns the VAT taxation of a company’s partners engaged in professional activity.
Changes in the draft on the fiscal reform in Spain
The new fiscal reform in Spain, which will gradually be implemented in 2015 and 2016, will benefit rents bellow 50.000€ and individuals with family responsibilities. Severance pay shall be taxed, the exclusion of the dividends is abolished and the deductible quality of pension plans is reduced.
Inheritance tax Returns to non-residents in Spain due to discrimination
In its judgment on 3 September 2014, the European Court of Justice (ECJ) declared that Spain had infringed Community law by permitting differences in its tax treatment of the inheritance and gift tax between residents and non-residents in Spain and requires the return of wrongfully collected revenue.
Incentives and tax bonuses for SME in Spain
The new fiscal measures that benefit small sized entreprises or SMEs in Spain reduce the Corporate tax to as low as 20,25%.
Effects of the next fiscal Reform in Spain
The Preliminary Law on Fiscal Reform in Spain is creating a much more effective business competition aimed at both self-employed workers and businesses. The Reform proposes changes to tax on companies (TC), tax on the income of individuals (TII), tax agency, and VAT regarding e-commerce.
Consequences of the Fiscal Reform in Spain for Self-Employed Workers
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.
Taxation on the purchase of property under the new fiscal reform in Spain
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.
Deductions Relating to Income Tax with the New Tax Reform in Spain
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.
