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
Category: Insights
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.
Tax advisor: The imposition of abusive agreements from a criminal perspective
Abuse of the majority in the adoption of agreements is punishable both from a civil or commercial perspective, when these exceed the normal limits of the exercise of the rights, causing damage to third parties (art. 7.2 of the Civil Code) and from a criminal perspective (art. 291 of the Criminal Code). Throughout this article… Continue reading Tax advisor: The imposition of abusive agreements from a criminal perspective
Tax advisor: Foreign Securities Holding Entities (ETVE): Considerations about the application of the ETVE regime
ETVEs are efficient corporate vehicles for investments abroad. These entities benefit from a special tax regime that significantly reduces the tax burden on foreign profits, which makes these vehicles highly attractive to international investors. However, the application of the special tax regime requires the fulfilment of several requirements. In the following, we will discuss the… Continue reading Tax advisor: Foreign Securities Holding Entities (ETVE): Considerations about the application of the ETVE regime
Commercial advisor: Keys to the creation of the Central Registry of UBO
On September 19, 2023, Royal Decree 609/2023 will enter into force, creating the Central Registry of UBO (“RCTR“) and approving its regulations. The purpose of this article is to determine the keys to the creation of the RCTR and the consequences for the different obligated parties. Legal Context: Last July 11, Royal Decree 609/2023 of… Continue reading Commercial advisor: Keys to the creation of the Central Registry of UBO
General Meeting of Shareholders: Power to dismiss the corporate director
The Resolution of the Provincial Court of Barcelona, dated January 10, 2023, case number 6/2023 (ECLI:ES:APB:2023:212), analyzed the approval of a social action for liability directed at the directors appointed by the minority group. The Barcelona Court concluded that the challenged social agreement constituted an abuse, as its main objective was not so much to… Continue reading General Meeting of Shareholders: Power to dismiss the corporate director