How does Spain tax corporate income?
Individuals operating their own business or planning a startup in Spain will need awareness of the Spanish tax system in order to succeed. Del Canto Chambers specialise in Spanish and UK tax advice and tax compliance as well as tax inspections. The brief guide below... Read More
It’s always been important to get the right tax planning. Whether you are talking about UK tax, Spanish tax or any other form of international tax around the world, you need it to be the right hands. Tax changes happen all the time and it’s hard to keep up.
The implications... Read More
In 2005, Darren and Mary used their savings to buy a flat in a housing development in Málaga, like many Britons looking for a chance of having a second home in Spain, they signed a deposit contract with a real estate promoter and deposited several amounts into a special bank... Read More
"Posiblemente también ocurre en los pasillos de cualquier institución europea, y por ello es necesario actuar: una mujer pasa junto a un corrillo de hombres apostados en la acera. Tras de sí, deja una estela de silbidos y comentarios soeces por los que, además, debe sentirse lisonjeada. Una adolescente vuelve... Read More
The Supreme Court of Justice of Castilla y León has admitted the appeal of a taxpayer that had been sanctioned a total of 5.800 euros for having presented Form 720 after the deadline and condemns the Tax Office for costs. The full judgement can be read here.
It is important to... Read More
In this article, published in Spanish Property Insight, Clara I. Gómez Sevilla talks about the new ruling of the Supreme Court regarding mortgage expenses. The new ruling by the Spanish Supreme Court on mortgage expenses (STS105 / 2018) declares that it is the bank and not the borrower who must pay... Read More
Banks are up against the wall. Especially with regards to floor clause claims´. The Bank chances for obtaining a ruling in favour of their interests are very unlikely. Especially, after the ruling of the Court of Justice of the European Union 21/12/2016. Although the former Spanish Government had put spokes in... Read More
This isn’t the first time that from Del Canto Chambers, we inform on the disadvantages of the creation of Ad Hoc Courts for floor clauses. In our article published last month #MortgagedJustice. The bank claims: a hard journey. We highlighted the inconveniences for those consumers who, for example, must commute... Read More
The event “Women and the Legal Profession: Conciliation in the XXI century” took place in Madrid, organized by “Fundacion Hay Derecho”. As a female lawyer and to my regret, I left with the feeling that the development of interventions had little to do with women or women who are lawyers.... Read More
According to VAT law, for a purchase document to be considered a full invoice it has to meet various requirements, some of them are complete tax data of supplier and customer, the invoice number and detailed VAT breakdown (see all requirements here). Having said this, it is just as common for... Read More
We would do better if we would have paid more attention to Benjamin Franklin…. The alternative dispute resolution ADR are mechanisms for the parties in conflict to resolve their differences and avoid going to court. Its effective, efficient and quick within family disputes, working relationship, and commercial agreements. In Spain, this... Read More
The legal profession, an essential part of the Spanish judicial system, seems to distance itself each day from the citizens. Using the infamous case #LaManada, of which I don’t believe we can add anything new about. From Del Canto Chambers, and foreseeing what is to come, we believe it is... Read More
About Youtubers Legal Issues. YouTube is the buzzword of today, a subsidiary of Google Inc. anyone can easily open an account and upload their audio-visual contents. The Partner Programs allow YouTubers to earn revenues via Google AdSense. There are basically few conditions that a YouTuber must follow.... Read More
Many call for a quick and achievable resolution for internet defamation.
Unfortunately the Internet defamation is more usual than desired. It is not hard to imagine that at this very moment a person, hopefully, neither you nor I, is being defamed on the internet. Turn on with a single click. The... Read More
Everyday Spanish people are being hurt by false accusations – like Francisco who was wrongly blamed for a brutal robbery in a viral Facebook post.
Unfounded rumors can be punished in Spain with up to two years in prison. When we speak about fake news we should broaden the term. Everyone... Read More
The claims service of the Bank of Spain has been overwhelmed by consumers making complaints against lenders for abusive mortgage interest floor clauses, and set-up costs. The Claims Service of the Bank of Spain is a body that evaluates consumer complaints against financial service companies. The Bank of Spain has revealed... Read More
The Decision has already aroused the first controversies in the Spanish legal scene and in the Consumers Associations that will undoubtedly raise this case to the European Court of Justice which will have the last word to say.
It is not the first time that the CJEU corrects and amends the... Read More
As we announced, the New Spanish Law form contractors and freelancer, reforming Self Employed conditions came into force on the 1st of January 2018. These are some of the new measures that bring clarity and benefit to the freelance worker.... Read More
Since its promulgation, Spain has joined countries that aim to attract residents of great fortune.
Has the Beckham law helped to attract foreign capital? There is currently an international struggle on how to attract residents with great international private fortunes. Spain has taken its time in joining these and the legislation... Read More
The jury is still out
Laia Fernández, lawyer specialized bank claims at Del Canto Chambers, details in her article Who pays mortgage expenses – lender or borrower? The jury is still out published on 16th February 2018 in our partner website Spanish Property Insight. Laia describes how Spanish Provincial Courts are unifying... Read More
Spain is the most attractive European country for British investment
Spain is the most attractive European country for British investment according to the III Barometer on Climate and Outlook for British Investment in Spain; which took place last 15th February, hosted by the HE of Spain in United Kingdom, Mr. Carlos... Read More
Every day we wake up in the City of London and Brexit is still there. Like a bad dream that we just can’t escape. A nightmare for those who voted ‘no’ and for those in favour of leaving. Brexit has grown immovable, turned into a real monster, unfathomable and seemingly... Read More
This couple of months of the year have been very active at Del Canto Chambers. As political and economical situation is becoming more stable in Spain, after the Catalonian elections, where the pro-independence parties won the elections, it is clear that some changes will be needed in the Spanish Constitution... Read More
An agreement between the Kingdom of Spain and the State of Qatar for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed last 15th December.
The taxes covered by this agreement are:
I) The income tax on individuals.
II) The corporation tax.
III)... Read More
Nuria Coronado’s book “Hombres por la Igualdad” was presented in the headquarters of European Institutions in Madrid last Friday, 24th of November. Sixteen well known men from different professional sectors and trajectories shared pages in this book in favour of equality, the 16 are convinced of the necessity of achieving... Read More
Many of yours might be thinking, whether at this stage, would be worthy to apply for a Permanent Residence Card or perhaps would be convenient to wait until the UK government clears up the horizon of the EU Citizens living in the UK.... Read More
As mentioned in our last monthly summary, Del Canto Chambers facilitated the agreement between Diario AS and E-Management Dar Al Sharq group, and the launching of what will become the largest Spanish sports digital platform in the Arab world. Last month took place the presentation of AS ARABIA “The Arabic... Read More
This past month we strengthened our strategy and our team in the UK. Claudio Rodríguez Vera, tax adviser and abogado, moved to our office in Southampton, giving coverage to our clients in the Southeast region, while Julio Prieto has just become a European lawyer and is working from our offices... Read More
Our colleague Nuria Monjas de Castro has published an article about the problems of competent jurisdiction due to defamation in digital media. There is no a universal regulation to determine the competent court. It is a complicated issue that is usually resolved by applying a general rule: the domicile court... Read More
PAST: The Federation for self-employed workers (ATA) had long called for an ambitious reform of the self-employed statute for recovering a very punished sector. According to its president, 2 out of 3 had to withdraw from the system as a consequence of the economical crisis. Ambitious or not, You may judge. The... Read More
Today September 25th, PRISA Group and Dar Al Sharq Group from #Qatar have signed and agreement in Madrid to launch #AS_Arabia, the largest Spanish Sports Digital Platform in Arabic for the Arab world. With this agreement Diario AS takes a major step on its option for the international market.
At Del... Read More
In the old days – when it comes to floor clauses when I say “in the old days” I mean 2013-, floor clause matters were settled in Commercial Courts; one per province, except in large cities such as Madrid, Barcelona, Valencia and Malaga.
These courts were created to take charge of... Read More
The Balearic Islands has approved by Decree Law the modification on the rental of touristic accommodations. In this way, the number of visitors to the islands is limited and the business of renting apartments (booming in recent years) is properly regulated.
The limit has been set at 623,624 places for tourists... Read More
This year August has been an unusual month at Del Canto Chambers. Unlike previous years, there has been a lot of activity in our offices in Madrid, London and Doha, which has given us the opportunity to combine some holidays with business.
Also an unusual month due to the terror attacks... Read More
Recently we published an article with regards to court claims in mortgage expenses (Notary fees, Land´s Registry fees, Property Appraisal and management costs among others).
Furthermore, a First Instance Judge from Alcorcon, (Madrid), has sentenced Bankia to refund all above mentioned mortgage set up costs including the Stamp Duty Tax which... Read More
The ground court courts receive almost 2000 lawsuits in one week through Lexnet, we read on June 13 at ConfiLegal. But what exactly is Lexnet and what is it used for? Lexnet is a secure information exchange platform between the judicial bodies and the legal operators that was created to streamline... Read More
Regarding the costs of the trial Paying legal costs even if having good chances for winning a case against banks, may be deterrent rather than effective and may prevent consumers from taking legal actions against banks, especially if the amounts claimed are moderate. But Sala I of the Supreme Court has ruled and... Read More
In this article, Antonio Gabriel Aguilera talks about, the so-called “floor clauses” and explains that it is a current and unstoppable phenomenon affecting millions of clients in the whole Spanish territory. He also explains to us that since 2015, some banks contacted clients that had mortgages with floor clauses, with the sole... Read More
Now, time is essential for a successful reclaim of your off-plan property deposit.
One of every five houses bought by foreigners in Spain, belongs to British Buyers; however, some of these buyers saw truncated their dreams, as they put their life savings into Off-Plan deposits for properties that were never built... Read More
Touristic Lettings in Andalucía: What should we know about... Read More
Spain to recover its political influence in the EU
The Spanish government is facing a new role within its EU partners by gaining its lost influence due to the Brexit and its recovery from the economic crisis.
Spain is trying to recover its diplomatic and influential position inside the European Union which... Read More
The Spanish tourist market, global leader in competitivity
The first competitive global tourist power
Spain is found to be the first competitive global tourist power in a World Economic Forum's report.
The Spanish tourist market keeps increasing and this year's provisions are higher than 2016's. Spain was visited last year by 75.6m tourists,... Read More
The Spanish economy improves by reaching pre-crisis values
Spanish economic data are upgrading although there is still a wide margin for improvement in relation to employment.
After three years of growth, the Spanish economy is improving and reaching levels prior to 2008 crisis. The government forecasts for 2017 places this growth around... Read More
Fiscal developments in 2017: increases and constraints in Corporate Tax and Property Tax
Application of the changes in Corporate Tax and Property Tax introduced by the government a month ago started on New Year’s Day. They will affect large companies and municipalities.
Some of the tax changes approved by the Spanish government... Read More
The IRPF's box could be extended to other seven religions in Spain
A similar box to that of the Catholic Church could be implemented in the tax return's application from which might be benefited around seven religious creeds in Spain.
The Minister of Justice will implement a box like the Catholic Church... Read More
The CJEU definitively overturns the floor clauses
The European High Court recognizes the total retroactivity of the floor clauses and banks must return all the amounts overcharged to their customers.
The Court of Justice of the European Union (CJEU) has issued the final judgement on land clauses forcing banks to repay the... Read More
The TSJA does not consider the maternity benefit exempt from the IRPF
The TSJA opposes in a ruling the TSJM when it rejects to exempt maternity allowances in the income tax by referring to the Spanish Tax Agency's thesis.
The High Court of Justice of Andalusia (TSJA) enacted a ruling last October... Read More
Madrid’s High Court contradict the Spanish tax authority’s criteria and it recognizes the refund of income taxes paid on maternity leave.
The Community of Madrid’s High Court of Justice (TSJM) has recognized to a taxpayer the income tax’s refund paid when receiving a maternity allowance.
This judgment contradicts the Spanish Tax Agency’s... Read More
The Spanish tax authority keeps its collection policy and it is focused on HNWI and multinationals, increasing its inspections in areas like Costa del Sol and Madrid
The Spanish Tax Agency is increasing its tax inspections both HNWI, especially those non-residents owning properties (generally, second-home residences) and multinationals in our country,... Read More
The 31st of October marks the end of the Spanish Tax Agency's Tax Inspection's Intensified Action Plan against tax fraud, which has been described as arbitrary and confiscatory by the fiscal sector.
Last February, the Spanish Association of Tax Advisors (AEDAF) criticized the plan of incentives against tax fraud that the... Read More
The caretaker government will undertake the Corporate income Tax reform and re-implement installment payments. This measure is being accused as confiscatory by labor unions and the opposition parties.
The caretaker government will make effective through law-decree the Corporate income tax reform that was announced last July; and by which is trying... Read More
The Spanish economy is improving despite the eight months of a caretaker government. Although there is uncertainty about its sustainability, in Del Canto Chambers we are confident in the ability of our country. For this reason, we offer #EmbraceSpain to our international clients.
Spain has been ruled by a caretaker government... Read More
Working on the Tax Agency’s fight against tax fraud and tax collection has monopolized our week at Del Canto Chambers.
Treasury leads the way:
The Tax Agency has been the chief protagonist this week at Del Canto Chambers. We have focused on the inspections being carried out in large multinational companies operating... Read More
Poor collection of both corporation tax and personal income tax overthrow the forecasts made by the Tax Office in the State Budget for 2016. Reality deviates drastically from initial forecasts made by Spanish Tax Office:
The Tax Agency was too optimistic in the preparation of the State Budget, published shortly before the... Read More
Tax authorities reveal more than one and a half million non-declared properties in Spain. Its impact on immovable property's tax collection it is a lifeline for councils' accounts.
The Spanish Tax Agency have discovered 1.690.000 non-declared properties for immovable property tax (IBI) in Spain. The investigation has been taken part by... Read More
The tax declaration of self-employed workers' earnings from economic activities uploads by first time since the beginning of the crisis.
The benefits that self-employed workers have declared to the Spanish Tax Agency in their income tax declaration (IRPF) have grown up by first time since the year 2007. The declared net... Read More
The Spanish government still has not specified a figure but assures it will be up to 20%. The public deficit's compliance with Brussels it is an uthopy.
The Spanish caretaker government has notified to the Fiscal Responsability Indepedent Authority (AIReF) that the new corporate tax's fractioned payment's rate will permanently be... Read More
This Agreement's reinterpretation will enable law firms and chambers' works and businesses with the neighbouring country.
Spain and Morocco have introduced some modifications in their 1978 Agreement to avoid double taxation in the income and heritage tax fields, which will mean further improvements in both countries' commercial relations and in the... Read More
The Spanish airline company avoids paying 29 million euros of non-resident income tax to the Spanish Tax Agency because an unjustified inspection visit enlargement.
The Spanish airline company Iberia has won a twenty-nine-million trial to the Spanish Tax Agency. That Agency was claiming this amount by way of non-resident income tax's... Read More
The iconic Apple multinational or the giant Google are suffering from fiscal inspections by the Spanish Tax Agency. The Spanish Tax Agency is investigating the Apple giant and its branches in Spain, following the Spanish journal El País, among other big businesses such as Google which had already been visited by... Read More
Bailing water: the Spanish government raises the corporate tax to balance the accounts
With the corporate tax raising, it is intended to "plug the gap" suffered in its collection, the worst figure since 1995.
The Spanish Treasury Department has propounded to increase up to 12% the corporate tax's fractioned payment before the... Read More
Spanish Golden Visa, the most secure scheme to put a foot in Europe:
Spanish Act 14/2013 of 27th September, known mainly for containing the Spanish Golden Visa scheme, was issued to support entrepreneurs and their internationalisation, introducing a new type of visa and residence permit for qualified immigration, in order to... Read More
The Spanish Government announced a corporate income tax's increase without concretising it and it is going against the European's tide.
The Spanish Government announced that the minimum payments on account's corporate income tax's interest rate will be rise to the foreign businesses in order to collect 6.000 million of euro more... Read More
The time to buy Spanish real estate and obtain the Spanish Golden Visa is running out.
According to the figures from the Spanish Ministry of Development, the stock of new, unsold houses reached a maximum of 650,000 homes in 2009. That is why now that this figure has dropped below 500.000,... Read More
Different jurisdictions and tax schemes are keys to bear in mind when an FO is established
A Family Office (FO) is a kind of business created to manage the single family or group family's assets and wealth. It deals with wealth management such as financial, real estate and corporate investments and... Read More
Although the Golden Visa scheme, included in the Spanish Entrepreneur’s Law of September 2013, is aimed at obtaining foreign investments, it also works the other way around A whole fifteen months have passed since the Spanish government put forth a new law which gives a residency visa to foreigners who buy... Read More