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?
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Tag: Additional Tariffs
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
Tax advisor: The Beckham Law will not attract the wealthy or pensioners living abroad
The revised legislation does not serve to bring back Spanish residents with fiscal residence in Portugal and other countries. The latest fiscal assessment of the Beckham Law or Regime will not facilitate the return to Spain of the high net worth individuals, nor will it help retirees with generous pensions, many of whom are in… Continue reading Tax advisor: The Beckham Law will not attract the wealthy or pensioners living abroad
Tax advisor: The General Court of the EU annuls the additional customs duties on lighters from the USA
This decision stems from the appeal filed by the only known manufacturer of windproof metal mechanical lighters in the United States, Zippo Manufacturing. The General Court of the European Union has revoked the additional tariffs imposed on certain lighters from the United States. This action comes in response to the appeal filed by the only… Continue reading Tax advisor: The General Court of the EU annuls the additional customs duties on lighters from the USA