Economic earnings arisen on the occasion of the transmission of urban properties acquired (for a price) from May 5th, 2012 and until Dec 31, 2012 are declared 50% exempt in income tax. This exemption is not applicable when the property has been acquired or transmitted...
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A new regulation in Spain for residents who carry out transactions with abroad has been approved and shall be applicable from January 1st, 2013. Here is a translation of its contents: First rule. Obligation to report. The present regulation is for individuals and legal persons (public or...
Spain: Summary Of The Most Important Aspects Of Spain's Royal Decree Law 3/2012 Proposing Urgent Measures For The Reform Of The Spanish Labor Market 10 April 2012 Article by Lawrence C. DiNardo , Jesús Gimeno and Mercedes Fernández In http://www.mondaq.com/ MEASURES AFFECTING DISMISSALS 1. Collective dismissals The reform has eliminated the...
The Committee on Legal Affairs of the European Parliament has recently adopted the proposal for the regulation on legal issues in relation to Inheritance Law in the European area and creation of a European certificate of inheritance, whose purpose is to facilitate the process concerning...
Old buildings eligible to be legalized include the ones finished prior to the entry into force of law 19/1975, of May 2, 1975. These ones having no license, shall be treated as the buildings having urban license, provided that they continue today with the same...
Capital gains obtained as a result of selling a property are subject to tax. This income shall be deemed to be accrued when the property is transferred. In general, net gains shall be calculated based on the difference between the cost price and transmission value of...
The new amending paragraph in the Law (Ley de Ordenación Urbanística de Andalucía) says the measures of protection of city-planning legality and restoration of the disturbed law and order shall validly take place when these works are in course of execution, implementation or development and...
The compensation for wrongful dismissal (despido improcedente) in cases of work contracts that were signed prior to the entry into force of the new Royal Decree (February 12th, 2012) shall be calculated at a rate of 45 days of salary per year of service for...
Since January 1st, 2012 the transfer tax, or Impuesto de Transmisiones Patrimoniales (ITP), applicable to private real estate property sales, has been raised in Andalucía as follows: 1) 8% for the stretch of the value of the real estate property declared in the...
