Tax advisor: New EU directive modifies fiscal cooperation and financial information communication.

Directive (EU) 2023/2226 of the Council, published in the Official Journal of the European Union on October 24, 2023, amends Directive 2011/16/EU on administrative cooperation in tax matters. According to this Directive, Member States must adapt their legislation to comply with its provisions by no later than December 31, 2025, and these provisions will come… Continue reading Tax advisor: New EU directive modifies fiscal cooperation and financial information communication.

Tax advisor: Updates in annual informative tax returns: Changes in models 189 and 720

On October 31, 2023, the Official State Gazette (BOE) published Order HFP/1180/2023, which amends Order EHA/3481/2008, approving the model 189 for the Annual Informative Declaration on securities, insurance, and income. This amendment includes changes to the physical and logical design of the form to make it machine-readable and sets conditions for electronic submission. Order HAP/72/2013,… Continue reading Tax advisor: Updates in annual informative tax returns: Changes in models 189 and 720

Tax advisor: Can I deduct expenses for books and school supplies on my taxes?

With the beginning of each academic period, the purchase of textbooks and school supplies is required. However, in some situations and depending on the autonomous community of residence, these education-related costs can result in tax benefits on your Income Tax return. In this post, we will focus solely on potential tax deductions related to expenses… Continue reading Tax advisor: Can I deduct expenses for books and school supplies on my taxes?

Tax advisor: The Beckham Law and its impact on taxation in Spain

The Beckham Law refers to a tax tool aimed at individuals who move their tax residence to Spanish soil due to engaging in labor activity. This system offers the opportunity to enjoy more advantageous taxation, allowing taxpayers to apply the regulations of the Non-Resident Income Tax (IRNR), even if they meet the requirements to be… Continue reading Tax advisor: The Beckham Law and its impact on taxation in Spain

Tax advisor: Clarification on How to Declare Cryptocurrencies

The General Tax Directorate, abbreviated as DGT, in its response to query V0018-23, provides an answer to one of the questions posed by a taxpayer regarding the tax treatment of cryptocurrencies. More precisely, the question raised is:   What is the procedure for reporting gains and losses generated when you cannot access transaction details? According… Continue reading Tax advisor: Clarification on How to Declare Cryptocurrencies

Tax neutrality regime. A change of criteria regarding the requirements for its application.

The Directorate General of Taxes (hereinafter, “DGT“) modifies its perspective regarding the application of the tax neutrality regime in corporate restructurings. It now holds that the regularization of tax advantages pursued will only be allowed when it is conclusively demonstrated that the operation had as its main purpose tax fraud or tax evasion, and is… Continue reading Tax neutrality regime. A change of criteria regarding the requirements for its application.

Tax advisor: How to evaluate a company’s shares and participations for tax purposes?

The proper evaluation of a company’s shares and participations is essential in various circumstances. Determining the exact value of shares and participations is crucial to ensure fair and equitable agreements, whether it’s in the sale of shares or participations, family transfers, mergers, acquisitions, the issuance of new shares or participations, or the liquidation of companies.… Continue reading Tax advisor: How to evaluate a company’s shares and participations for tax purposes?

Tax advisor: The Provincial Council of Gipuzkoa approves the Temporary Tax on High Fortunes

The government council of the Provincial Council of Gipuzkoa approved on Tuesday the draft foral regulation that regulates the Temporary Solidarity Tax on High Fortunes. Additionally, they have submitted the project for consideration and voting in the general assemblies, requesting an expedited process in accordance with Article 85 of the Foral Parliament’s Regulations. The spokesperson… Continue reading Tax advisor: The Provincial Council of Gipuzkoa approves the Temporary Tax on High Fortunes

Tax advisor: Extremadura has raised the exempt threshold to 100,000 euros for guarantee-free deferral or installment of debts related to its own taxes

On October 20, 2023, raising the exemption limit to 100,000 euros for providing guarantees in applications for deferral or installment of debts derived from own taxes and other public law revenues in the Autonomous Community of Extremadura. On October 25, 2023, an order dated October 20, 2023, was published in the Official Gazette of Extremadura,… Continue reading Tax advisor: Extremadura has raised the exempt threshold to 100,000 euros for guarantee-free deferral or installment of debts related to its own taxes

Tax advisor: The Supreme Court rules that the subsidiary liability under Article 43.1.a) of the LGT has a punitive nature

In its recent ruling on October 2, 2023, the Supreme Court has declared the following doctrine: “1. The subsidiary tax liability under Article 43.1.a) of the LGT has a punitive nature. Such punitive nature does not prevent the legislator, within constitutional limits, from modulating the inapplicability regime of punitive acts, including those based on the… Continue reading Tax advisor: The Supreme Court rules that the subsidiary liability under Article 43.1.a) of the LGT has a punitive nature