In its judgment of January 31, 2024, the Superior Court of Justice of Madrid examines two main aspects. First, the validity of a loan granted by the appellant entity to another entity, as well as the consideration of such loan as uncollectible, which would allow its deduction as a loss in the impairment of the… Continue reading The Superior Court of Justice of Madrid has ruled that the deduction for the impairment loss on the loan is valid
Category: B Law & Tax
The Beckham Law and its implications on payroll: key aspects
The Beckham Law, formally known as the “special tax regime applicable to workers, professionals, entrepreneurs and investors relocated to Spanish territory”, regulates the taxation, in accordance with non-resident regulations, of the income of individuals relocated to Spain who have acquired tax residence. Since its introduction in 2005, this regulation has been the subject of attention… Continue reading The Beckham Law and its implications on payroll: key aspects
Temporary Tax on Large Fortunes: what is it, how does it work and who pays it?
The recent approval before the Constitutional Court of the Solidarity Tax on Large Fortunes (ISGF) has clearly marked the tax landscape, given the debate that this tax has sparked. This tax, designed, in principle, on a temporary basis for the tax years 2022 and 2023, has been conceived as a measure to counteract the total… Continue reading Temporary Tax on Large Fortunes: what is it, how does it work and who pays it?
End of personal income tax compensation for capital losses derived from donations
From now on, donors will no longer be able to apply the capital losses suffered between the acquisition and the donation of the property to reduce the tax base, although they will be obliged to include the gains in the IRPF, in case they have occurred. This decision of the Supreme Court invalidates the previous… Continue reading End of personal income tax compensation for capital losses derived from donations
Taxation of digital nomads
The General Directorate of Taxes (DGT), an entity attached to the Ministry of Finance and Public Function, with the primary function of establishing the criteria for the application of various taxes, including Personal Income Tax (IRPF), has recently issued relevant pronouncements. In this regard, in the case of a taxpayer who telecommutes from a foreign… Continue reading Taxation of digital nomads
THE SPECIAL REGIME FOR LISTED REAL ESTATE INVESTMENTREAL ESTATE INVESTMENT LISTED COMPANIES (SOCIMI)
The corporate purpose of the SOCIMI must be the acquisition and development of urban real estate for lease, holding shares in the capital of other SOCIMIs or in the capital of other entities not resident in Spanish territory, as long as they have the same corporate purpose as the SOCIMI and are subject to a… Continue reading THE SPECIAL REGIME FOR LISTED REAL ESTATE INVESTMENTREAL ESTATE INVESTMENT LISTED COMPANIES (SOCIMI)
How is the Tax on Large Fortunes calculated?
On 29 December 2022, one day after the publication in the Official State Gazette of Law 38/2022, the Temporary Tax on the Solidarity of Major Fortunes (ITSGF), better known as the Tax on Major Fortunes, came into force. Its implementation has not been without controversy due to its peculiarities. One of these is that it… Continue reading How is the Tax on Large Fortunes calculated?
Unraveling Exit Tax in Spain: Smart Taxation when Changing Residence
Exit Tax in Spain refers to a tax applied when an individual or entity changes their tax residence outside the country. This tax imposes levies on unrealized gains accumulated by the taxpayer before the departure, particularly on assets like stocks or properties. The aim is to prevent tax evasion by taxing the accumulated gains at the… Continue reading Unraveling Exit Tax in Spain: Smart Taxation when Changing Residence
In Personal Income Tax, if a taxpayer carries out an economic activity, late payment interest is a deductible expense
The issue of appeal focuses on determining whether, in the context of Personal Income Tax (IRPF), late payment interest, whether resulting from a liquidation in a process of verification of income related to the economic activity of an individual or those generated by the suspension of the execution of a contested administrative act, can be… Continue reading In Personal Income Tax, if a taxpayer carries out an economic activity, late payment interest is a deductible expense
Interview with Alfonso Garrido, Founding Partner of B Law & Tax, for Inmobiliare magazine
In this article, we detail the interview conducted by Inmobiliare, a magazine specialising in the real estate sector, with the founding partner and director of our firm, Alfonso Garrido, as a specialist in the sector, at the head of a leading firm in international tax advice. B LAW & TAX, based in Madrid, is a… Continue reading Interview with Alfonso Garrido, Founding Partner of B Law & Tax, for Inmobiliare magazine
