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...
Table of personal and family minimum exempt amounts on Spain Resident’s Income Tax (Euros per year) Personal and Family 2016 & 2017 Taxpayer’s minimum: a) General: 5,550 b) More than 65 years old: + 1,150 c) More than 75 years old: +1,400 Minimum per sheltered ancestor: a) More than 65 years old:...
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...
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...
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...
You are on the top of the hill…still enjoying your recent slice shot on 18th hole. You are sure it was your cutest banana ball and you told others it was intentional when the ball landed on the green. And now you see a rewarding view of...
From December 3rd, 2010 as a general rule for any kind of companies the following operations shall be exempt of tax (such tax was formerly a 1% of the operation’s value): 1) Formation of companies 2) Increase of company’s capital 3) Contribution from shareholders not resulting in increase...
Form January 1st , those contributors who have a yearly income (taxable base) exceeding 24.107,20 €, will no longer enjoy the current tax deductions that were applicable to residents in Spain in cases of purchase of habitual housing or rehabilitation of those who are disabled....
The Spanish Supreme Court establishes new jurisprudence with two unequivocal verdicts that revolutionize the current legal doctrine: the Tax Office will not enter into a company’s offices to request data if not authorized by the company’s legal representative or the court. Link to one of the...
You have to pay it because, legally speaking, in Spain there is a property-owners’ imputed income tax charged on secondary homes. And yours is clearly the case since your principal dwelling is abroad. The same applies to residents in Spain who own more than one...