The government has extended the Wealth Solidarity Tax on High Fortunes until a “review of wealth taxation” is carried out in the autonomous communities, linking it to the reform of the regional financing system. According to the statement from the Ministry of Finance and Public Function after the approval by the Council of Ministers of… Continue reading Tax Advisor: Tax Updates: Extension of the Wealth Solidarity Tax on High Fortunes in Spain
Author: buleboo
Tax Advisor: Legislative Titles in the Community of Madrid: Tax Reforms and Deductions for the Fiscal Year 2023
The Official Gazette of the Community of Madrid on December 21, 2023, has published Law 12/2023, dated December 15, which introduces temporary adjustments to the bonus for the Wealth Tax in the Community of Madrid during the validity of the Temporary Solidarity Tax on Large Fortunes (ITSGF). According to the amendment, from January 1, 2023,… Continue reading Tax Advisor: Legislative Titles in the Community of Madrid: Tax Reforms and Deductions for the Fiscal Year 2023
Tax Advisor: Beckham Law: Deadlines and Requirements to Benefit from the Tax Regime
The Personal Income Tax Regulation, as well as Model 149, used to request the expatriate regime, and Model 151, used for tax declaration by these taxpayers, have been adjusted to reflect the amendments incorporated in this area by the Startup Law. On December 6, 2023, Royal Decree 1008/2023 was published in the Official State Gazette… Continue reading Tax Advisor: Beckham Law: Deadlines and Requirements to Benefit from the Tax Regime
Tax Advisor: Crucial Times for ITSGF: Express Procedure and Tax Challenges in Spa
The remarkable speed at which various procedures (legislative, administrative, or judicial) related to the Temporary Solidarity Tax on Large Fortunes (ITSGF) have taken place or are currently underway is particularly noteworthy. Firstly, the promptness in its legislative processing and parliamentary approval stands out. Secondly, the speed of its entry into force and effective application is… Continue reading Tax Advisor: Crucial Times for ITSGF: Express Procedure and Tax Challenges in Spa
Tax Advisor: All you need to know about the Temporary Solidarity Tax on Large Fortunes
Several unconstitutionality appeals filed against the Temporary Solidarity Tax on Large Fortunes (ITSGF) have been rejected by the Constitutional Court. Initially, challenges were admitted, including those filed by the Government Council of Madrid (rec. n.º 616/2023), Andalusia (rec. n.º 1258/2023), Xunta de Galicia (rec. n.º 1951/2023), Madrid Assembly (rec. n.º 1922/2023), and the Government Council… Continue reading Tax Advisor: All you need to know about the Temporary Solidarity Tax on Large Fortunes
Tax Advisor: Exit Tax in Spain: Implications for Large Investors and Application Conditions
From the perspective of individual taxation, a fundamental aspect to consider when evaluating the tax implications related to changing fiscal residence from Spain to a third country is known as “Exit Tax,” regulated in Article 95.BIS of the LIRPF. This aspect is particularly relevant for large investors who hold stakes in various companies located in… Continue reading Tax Advisor: Exit Tax in Spain: Implications for Large Investors and Application Conditions
Tax Advisor: Comprehensive Reform in Fiscal Patronage: A Detailed Analysis of Royal Decree-Law 6/2023
Royal Decree-Law 6/2023, issued on December 19 and published in the BOE on December 20, 2023, addresses urgent measures to implement the Recovery, Transformation, and Resilience Plan, focusing on aspects such as the public service of justice, the civil service, local government, and patronage. With particular emphasis on fiscal matters, its fourth book introduces modifications… Continue reading Tax Advisor: Comprehensive Reform in Fiscal Patronage: A Detailed Analysis of Royal Decree-Law 6/2023
Tax Advisor: New Tax Opportunities in Spain: Approval of the Impatriates Regime and Its Benefits
Good news for investors, entrepreneurs, and professionals in general, whether they are executives, digital nomads, self-employed, or employees, as long as they are tax residents abroad and are considering investing or establishing themselves in Spain. After a wait of 359 days, on Friday, December 15, the application model, along with the annual tax return, was… Continue reading Tax Advisor: New Tax Opportunities in Spain: Approval of the Impatriates Regime and Its Benefits
Tax Advisor: Spain strengthens 15% additional tax for multinational corporations: Advancement in international fiscal cooperation
The Council of Ministers has approved in the initial phase the Draft Law to transpose the European Directive that establishes a global minimum taxation level of 15% for multinational corporations and large national groups. This step follows the recommendations of Pillar 2 of the OECD’s BEPS program, aimed at combating the erosion of the tax… Continue reading Tax Advisor: Spain strengthens 15% additional tax for multinational corporations: Advancement in international fiscal cooperation
Tax Advisor: Tax analysis of corporate restructuring: Implications on companies, assets, and Inheritance and Gift Tax (ISD)
In response V2752/2023 dated October 10, the General Directorate of Taxes (DGT) analyzes a restructuring operation of a family company (entity A) that owns 100% of entity B. Entity A is responsible for directing and managing the company’s participation in entity B. In 2019, the parents donated shares in entity A to their children, benefiting… Continue reading Tax Advisor: Tax analysis of corporate restructuring: Implications on companies, assets, and Inheritance and Gift Tax (ISD)