Tuesday, 19 September 2017
Monday, 18 September 2017
Non-residents who have a property in Spain are taxable by the Spanish Non-Resident Income Tax. Even if the property has neither been rented nor sold, there is an imputed rent to have under consideration, which becomes chargeable on December 31st.
Here is a list of last legislative changes concerning this tax:
11. Current regulation now admits that the profits obtained by a permanent establishment in Spain which are distributed to the PARENT COMPANY (*) in another EU state can benefit from an EXEMPTION (the same as if the profits had been distributed among Spanish companies belonging to the same holding/group), provided that the existence of the PARENT COMPANY was due to VALID REASONS.
(*) Parent company is the one who OWNS AT LEAST 5% of the capital of another company (directly or indirectly) or the one which OWNS SHARES WITH A TOTAL VALUE OF MORE THAN 20.000.000€.
Sunday, 17 September 2017
Tuesday, 22 August 2017
Spanish Tax Advisors are concern about the recent intentions of the Spanish Inland Revenue to advance a number of tax returns to the month of January. Most specifically, the Spanish Inland Revenue is planning to require in January the following statements:
- Modelo 347 - annual statement of operations with third parties
- Modelo 345 - Statement of contributions to rent plans and pension funds
- Modelo 171 - Statement of impositions and dispositions of funds
- Modelo 184 – Statement of entities in attribution system (entities with no juridical personality)
Thursday, 10 August 2017
One of the latest changes of Spanish Annual Accounts 2016, with regard to those of previous years is the need of mentioning the average payment period to suppliers. This requirement was introduced by the Spanish Law No. 15/2010, of 5th July 2010, as a mesure to prevent late payment in trade operations. However, the subsidiary legislation was only adopted on 29th January 2016 by a reglamentation of the „Spanish Accounting and Auditing Institute (ICAC)”.
Average payment period
Average of trade accounts payable
Annual purchases and external services
Wednesday, 10 May 2017
The Spanish Treasuy Department has just agreed the Ministerial Order HFP/227/2017, of 13. March, which modifies the form No. 222, used for fiscal consolidation.
To see the new form, please log into: https://www.boe.es/boe/dias/2017/04/20/pdfs/BOE-A-2017-4294.pdf
Saturday, 22 April 2017
( (transmission price + VAT) – (purchase price + VAT) ) x 100
(100 + applicable tax rate)
CALCULATION OF VAT ON THE BASIS OF GLOBAL PROFIT MARGIN
Sunday, 16 April 2017
Temporary joint ventures operating in Spain can be included in a special taxation. When this tax system is used, the tax bases are not submitted to Corporate Income Tax (25%-30%), but attributed to partners (article 48 of Royal Decree Law 4/2004 (0Spanish Corporate Tax Act).
Saturday, 15 April 2017
Friday, 24 March 2017