Firstly, there are three different reporting obligations, which has led to the approval of three different forms, applicable to the following persons and entities: In form 721, persons holding virtual currencies abroad must provide the following information: In Form 172, which focuses on services related to the holding of virtual currencies, i.e., the protection of… Continue reading How cryptocurrencies are taxed in Spain
Category: B Law & Tax
Fiscal Updates for the Year 2024
In a recent binding resolution, the Directorate-General of Taxes (DGT) has relaxed its criteria regarding the accreditation of environmental deductions, establishing a maximum period of 15 years, even when investments were made in previously inspected fiscal years. Article 39 of the Consolidated Text of the Corporate Income Tax Law (TRLIS) (Royal Legislative Decree 4/2004, of… Continue reading Fiscal Updates for the Year 2024
Beckham Law: requirements and tax advantages in Spain
The Beckham Law, also known as the Impatriate Law, has, since its application in Spain, benefited people living abroad who choose to reside in Spain with respect to their tax obligations. What does the Beckham Law entail? The Beckham Law, also known as the Impatriate Law, establishes a special tax regime for foreign residents who… Continue reading Beckham Law: requirements and tax advantages in Spain
Taxation of environmental investments: flexibility in deduction accreditation according to new DGT Resolution
In a recent binding resolution, the Directorate-General of Taxes (DGT) has relaxed its criteria regarding the accreditation of environmental deductions, establishing a maximum period of 15 years, even when investments were made in previously inspected fiscal years. Article 39 of the Consolidated Text of the Corporate Income Tax Law (TRLIS) (Royal Legislative Decree 4/2004, of… Continue reading Taxation of environmental investments: flexibility in deduction accreditation according to new DGT Resolution
Scope of the Constitutional Court’s Judgment Declaring Partial Annulment of Royal Decree-Law 3/2016
The Constitutional Court has declared the unconstitutionality of various provisions contained in the Corporate Income Tax Law, which restricted the offsetting of negative taxable bases, as well as deductions to prevent double taxation, and also required the reversal of losses from depreciated holdings previously deducted in prior fiscal years. These measures, incorporated through Royal Decree-Law… Continue reading Scope of the Constitutional Court’s Judgment Declaring Partial Annulment of Royal Decree-Law 3/2016
The Court declares that the rectification request does not interrupt the prescription period as it is not related to previous inspection actions
It is emphasized that the appellant seeks to apply the deduction to avoid double internal taxation of dividends, a matter that was not addressed in its self-assessments for the years 2009 and 2010. The Superior Court of Justice of Madrid, in its ruling of December 13, 2023, examines whether the rectification request made by the… Continue reading The Court declares that the rectification request does not interrupt the prescription period as it is not related to previous inspection actions
Beckham Law: what is it and how does it work?
The so-called Beckham Law, officially known as the Special Tax Regime applicable to workers, professionals, entrepreneurs and investors moving to Spanish territory, is regulated in article 93 of the Personal Income Tax Law (IRPF). This legislation establishes a special IRPF taxation framework for those individuals who move to Spain for work purposes, i.e. those who… Continue reading Beckham Law: what is it and how does it work?
Admission of displaced self-employed individuals to the Beckham Law: requirements and procedures
I. Eligibility requirements: Absence of previous residency in Spain: pursuant to current regulations, it is stipulated as a fundamental requirement for admission to the special regime of the Beckham Law for displaced self-employed individuals that the applicant has not been a tax resident in Spain in the five years preceding the displacement that prompts the… Continue reading Admission of displaced self-employed individuals to the Beckham Law: requirements and procedures
The National Court: Differences between Market Value and Implications on Cadastre Value in the January 11, 2024 Sentence
The National Court, in its ruling of January 11, 2024, addresses a case where the appellant argues that the market value of a property is the one established at the time of sale to third parties, without the need to revert the proceedings to the Cadastre for a new valuation. This assertion is based on… Continue reading The National Court: Differences between Market Value and Implications on Cadastre Value in the January 11, 2024 Sentence
The Supreme Court ensures tax benefits in inheritances with usufruct: key judgment for legal certainty
The Supreme Court (TS) has issued a decision of great significance regarding taxpayers affected by inheritances involving usufruct, a situation representing the majority of cases according to statistics provided by the General Council of Notaries (CGN). Contrary to the stance held by certain regional tax authorities, the Supreme Court has bolstered the tax benefits associated… Continue reading The Supreme Court ensures tax benefits in inheritances with usufruct: key judgment for legal certainty
