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)
Category: Insights
The new initiatives and proposal for a European regulation on the control of foreign investments to reinforce economic security in the European Union
In line with the European Economic Security Strategy published in June 2023. The five initiatives approved by the European Commission on January 24, 2024 cover the following objectives: The measures adopted by the Commission are as follows: After analyzing foreign direct investment operations over the past three years, the Commission proposes measures to strengthen the… Continue reading The new initiatives and proposal for a European regulation on the control of foreign investments to reinforce economic security in the European Union
Family business exemption: controversial issues regarding access requirements in light of the latest DGT pronouncements
Recently, the DGT, in its binding rulings V2752-23 and V2390-23, hasclarified its criteria regarding the fulfillment of certain requirements for accessing the family business exemption. The family business exemption is, to date, one of the main tax benefits for family businesses and, in many cases, has become indispensable for the survival and development of such… Continue reading Family business exemption: controversial issues regarding access requirements in light of the latest DGT pronouncements
Tax Advisor: Tax residence of individuals in spain
The main criteria for determining the tax residence of individuals is the time spent in Spanish territory. The number of days spent in Spanish territory includes both days of physical presence as well as sporadic absences. Given the nature of sporadic absences as an indeterminate legal concept, in order to determine the number of “days… Continue reading Tax Advisor: Tax residence of individuals in spain
Tax Advisor: The prescription period for liability of administrators for corporate debts
The Supreme Court (SC) has recently issued a decision that significantly redefines the legal landscape regarding directors’ liability for corporate debts in Spain. Instead of adhering to the general and common prescription period of four years, the TS determines that this prescription period will vary depending on the specific nature of the debt in question.… Continue reading Tax Advisor: The prescription period for liability of administrators for corporate debts
The donation of shares
The donation of shares can be a valuable instrument in the context of corporate reorganization, allowing entrepreneurs to plan generational succession and transfer control of the company to their heirs or other family members. In this article, the most significant aspects of the donation of shares are examined from a corporate perspective. Capacity and… Continue reading The donation of shares
Digital nomads and other collectives arriving in 2022 and 2023 will be able to retroactively apply for the ‘Beckham Law’.
On December 7, 2023, Royal Decree 1008/2023, of December 5, 2023, which amends the Personal Income Tax Regulations, came into force. Among the main modifications, the adaptation of the “Beckham Law” application procedure stands out, for those new groups that want to apply to the regime as a result of the modifications of the Personal… Continue reading Digital nomads and other collectives arriving in 2022 and 2023 will be able to retroactively apply for the ‘Beckham Law’.
SPANISH EXIT TAX
Law 26/2014, of November 27 on Personal Income Tax (hereinafter, PIT), in force since January 1, 2015, establishes a case of taxation of unrealized capital gains when a taxpayer moves outside Spain, as an instrument to prevent tax evasion and a measure to guarantee tax revenues. The exit tax established in the PIT taxes the… Continue reading SPANISH EXIT TAX
Law on the digitalization of notarial and registry proceedings
The digitalization of mercantile registries and legal reforms in Spain mark significant progress towards a more efficient public administration and a society in tune with the digital age. These changes, in line with the European Directive, aim to speed up business processes, improve access to information, and strengthen legal certainty. Despite challenges, legal modernization is… Continue reading Law on the digitalization of notarial and registry proceedings
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.
