The official valuations of property in Spain are perfectly predictable. There is even official websites like this one where for example, if you indicate your property’s cadastral value and your municipality, it will tell you what the official valuation is. Obviously every lawyer or estate agent...
The minimum penalty for the lack of presentation of the model 720 when there is obligation to submit the form with respect to a single reporting obligation is of €10,000. In case three obligations of information are breached, the penalty would be €30.000. ...
The Declaration for the year 2012 will be held between February 1 and April 30, 2013. And in general, this obligation must be met between 1 January and 31 March of the year following that which the information to supply relates to. ...
According to the recently approved Law it is a very serious violation not to declare, not present in time and filing form with incomplete, inaccurate or false data information on goods and rights situated abroad. So is noted by the tax administration with respect to all...
The New law came into force on October 31st, 2012. Payments over EUR 2,500 are not allowed in cash when either the payer or the receiver is an entrepreneur (cases of payment to bank entities are excluded). However, the limit shall be EUR 15,000 in cases...
Spain and Germany have ratified the treaty to avoid double taxation and prevent tax evasion in respect of taxes on income and on capital. The treaty comes into force on 18th October 2012 and is applicable from 1st of January 2013. Capital represented by real estate...
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...
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...
Concerning to the Income tax of Individuals, the percentages of general tax scale stay the same but the rate applicable to savings in personal income tax has increased. The applicable rate will be 19% for the first 6,000 Euros of yield, and 21% on the...
You do not pay as long as you hold a Spanish residence permit or an EU Certificate of Registration for the last 3 years or more and have lived in your property as your home during such term at least. If this is not the...