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
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
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
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
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
It’s just a matter of time that UK expatriates in Spain receive a notification from the Spanish Inland Revenue (Hacienda); claiming unpaid taxes for the last four tax years (tax statute of limitation).
By now, after having acquired your Spanish property, we are sure you’ll agree that the Spanish Tax Legislation... Read More
Gibraltar and its tax regime: more complexity in the negotiations of the Brexit
Spain and the United Kingdom disagree on where to approach Gibraltar's future fiscal status, whether within the Brexit negotiations or posteriori on a bilateral basis.
Gibraltar is the most controversial territorial issue of Brexit. It is not yet known... Read More
EU countries agree on taking a step forward on anti-avoidance rules
The EU is about to approve a new Directive on anti-avoidance measures against third countries, the next step to implement the whole OECD recommendations for BEPS.
International tax avoidance has been the new taxation battlefield for OECD and the EU’s tax... Read More
The municipal capital gain could be reclaimed to the town halls
Numerous courts in all of Spain support the return of the municipal surplus value which current calculation does not consider the real value of property.
The municipal capital gain, or Tax on the Increase of the Value of Urban Land... Read More
Taxation of amounts returned by floor clauses
Customers who receive their refunds of floor clauses may have to pay for them, depending on the deductions applied at the time.
The amounts received for the return of the floor clauses may be taxed, depending on the deductions applied at the time. The system... Read More
Self-employed workers and SMEs, with more margin to defer their debts with the Spanish Tax Agency
SMEs and self-employed workers will be able to defer their debts and tax payments such as VAT, income tax or corporate tax after the flexibilization of the deferral system by the Tax Agency.
The Ministry of... Read More
The British government eases the inheritance tax regime Real estate wealth in the UK tends to concentrate generationally. The difficulties of young people's access to this market influence their taxation.
In the UK young people will inherit more but in more unequal conditions in the future. This is clear from a report... 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 EC keeps fining Apple for breaching the state aid regulations
The EC in its report on Apple's case accuses the company of enjoying a favorable tax treatment in Ireland without any basis and for breaching the state aid rules.
The European Commission has recently published its report on the conducted investigation... 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
Gibraltar: the Brexit's territorial problem
Gibraltar advocates a distinctive agreement for the Rock and other British territories in the negotiations regarding Britain’s exit from the EU.
Gibraltar's Chief Minister, Fabian Picardo, advocated in the British TV Channel “BBC” that the upcoming negotiations between London and Brussels to negotiate Britain’s exit from... Read More
Football Leaks: The tax evasión league
A European consortium of investigative journalists uncover footballers and celebrities' massive tax fraud, with an emphasis on Cristiano Ronaldo and José Mourinho.
The German newspaper “Der Spiegel” known as Football Leaks, has revealed that several European clubs and soccer players have committed a crime of... Read More
British tax authority is targeting high-net-worth individuals in order to collect more taxes that patch the public deficit hole up.
The United Kingdom has an economic problem: in 2015 its public deficit reached up to 4.20 of GDP. To cover that hole is a priority for the State to regain income.... Read More
The European Parliament debates a proposal to create a common base for corporate tax in the European Union.
The European Commission has presented a proposal to the European Parliament to harmonize the corporate tax’s base between the 28 States members.
This Consolidated Common Corporate Tax Base (CCCTB) would allow businesses to pay... Read More
Non-domiciled in the United Kingdom are reshaping their properties and taxation schemes in anticipation of government’s taxation changes due to the Brexit. The British tax system and its rules will radically change since April 2017 and it will do more once London calls upon Article 50 of TEU to start the... Read More
Twitter UK increased its tax payments in the United Kingdom from earning up to 30% more than in 2015 although the real figure is estimated to be even higher.
The British Twitter's branch has paid a total amount of £1.24m (€1.40m) in taxes due to an increasing of its profits up... Read More
The European Union is tax-tackling McDonald's and demands that the fast-food company pay a huge to Luxembourg for back taxes, just as it did with Apple.
The American fast-food giant McDonald's could face a fine imposed by the European Union of 466 million Euros in back taxes to be paid to... 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
Apple’s corporate network is investigated by the European Commission
The EU's Competence Commission has calculated that Apple defaulted €13bn between the periods 2003 and 2013 in Europe. It is not the first investigation on this American multinational accounts, which is already being investigated by the Spanish Tax Agency.
In fact, The Spanish... Read More
The application of the principle of universal jurisdiction for debate this week at the UN in New York.
The principle of Universal Jurisdiction refers to the extension of national jurisdiction of any territory over certain crimes considered crimes against humanity, regardless of where they were committed or the nationality of the... Read More
The European Commission investigates the tax agreements Apple has with Ireland and could impose an unprecedented sanction on the multinational for performing against the internal market.
The tech multinational Apple could face a penalty for back taxes of up to billions of euros. The decision depends on the European Commission, which concludes... Read More
HM Revenues & Customs proposals for sanctions against tax evasion, the BEPS project and Islamic finance have been the highlights of the week at Del Canto Chambers.
International finance has led the way this week at Del Canto Chambers. We have analysed the emerging sector of Islamic finance, the BEPS (Base... Read More
The Directive 2016/1164 applies the principles of the OECD against international tax evasion in Europe
The Council Directive (EU) 2016/1164 of 12 July 2016 laying down rules against tax avoidance practices that directly affect the functioning of the internal market was enacted concerning tax avoidance. The new legislation follows the directions... Read More
HMRC has an ambitious plan against tax evasion that is raising doubts among industry professionals and tax advisors. The British Treasury has launched a plan to prevent tax fraud which seeks to impose sanctions of up to 100% of the taxes evaded. The plan is a continuation of the anti-fraud measures... Read More
The OECD is trying to resolve some of the classic international tax issues in the context of the digital economy. Welcome to the OECD 2.0 Since 2013 the OECD’s BEPS (Base Erosion and Profit Shifting) is combating international tax fraud with a true multilateral tax reform proposal in a paper called... Read More
The OECD leads an international project to fight tax fraud that places a special focus on cross-border taxation of corporate income tax.
In economic terms, "globalization" means the same as "world market". Doing business globally also involves generating wealth on a global level, which, eventually, must be taxed.
Countries, through multilateral or... Read More
A Rics' survey warns of a British housing market's deep falling while a report from Moody's states that it is not going to affect main investors: GCC countries.
A Royal Institution of Chartered Surveyors' survey (Rics) foresees that home sales in the UK will significantly go down in the summer of... Read More
The Turkish government is completing in its parliament a tax amnesty to attract assets
Turkey in the last years is conducting an adaptation process to international common standards on transparency in the international automatic exchange tax information field.
In this regard, the Turkish government submitted to its parliament a draft law to... Read More