Recently, a Supreme Court ruling has highlighted the issue of the refund of the IIVTNU, or capital gains local tax. In a communiqué published on the official website of the Judiciary, the ruling issued by the Supreme Court Chamber on February 28th, 2024, is anticipated. The Chamber holds that the restitution of the Tax on… Continue reading New Supreme Court ruling on IIVTNU refunds
Tag: capital gains
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 advisor: New EU directive modifies fiscal cooperation and financial information communication.
Directive (EU) 2023/2226 of the Council, published in the Official Journal of the European Union on October 24, 2023, amends Directive 2011/16/EU on administrative cooperation in tax matters. According to this Directive, Member States must adapt their legislation to comply with its provisions by no later than December 31, 2025, and these provisions will come… Continue reading Tax advisor: New EU directive modifies fiscal cooperation and financial information communication.
Tax advisor: Updates in annual informative tax returns: Changes in models 189 and 720
On October 31, 2023, the Official State Gazette (BOE) published Order HFP/1180/2023, which amends Order EHA/3481/2008, approving the model 189 for the Annual Informative Declaration on securities, insurance, and income. This amendment includes changes to the physical and logical design of the form to make it machine-readable and sets conditions for electronic submission. Order HAP/72/2013,… Continue reading Tax advisor: Updates in annual informative tax returns: Changes in models 189 and 720
Tax advisor: Can I deduct expenses for books and school supplies on my taxes?
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?
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 advisor: Parents who transfer the family business with assets not linked to the activity will have to pay taxes for capital gains in the Personal Income Tax
In gifts of family businesses from parents to children, in which assets not linked to the activity are included, the donor will be subject to income tax (IRPF) on a capital gain based on the proportion that these assets represent in the assets of the company. This approach is reflected in a decision of the… Continue reading Tax advisor: Parents who transfer the family business with assets not linked to the activity will have to pay taxes for capital gains in the Personal Income Tax
Tax advisor: The General Directorate of Taxes analyzes the concept of enhancement to duly measure capital gains in Personal Income Tax
The General Directorate of Taxes has addressed the comparison between the concepts of improvement and repair in relation to the amount of capital gains in Personal Income Tax (IRPF) at the time of the sale of a property. This is evidenced in its binding consultations (V0229-23) dated February 13, 2023 and (V0349-23) dated February 20,… Continue reading Tax advisor: The General Directorate of Taxes analyzes the concept of enhancement to duly measure capital gains in Personal Income Tax
Tax Advisor: The person obliged to pay the capital gains tax by agreement is entitled to rectification and refund of the undue payment
The appealed judgment establishes that, since there is no case law stating that the fulfillment of a contractual obligation alone legitimizes the ability to appeal before the courts to analyze the merits of a tax assessment, it is necessary to abide by article 33 of the General Collection Regulation. According to this article, if the… Continue reading Tax Advisor: The person obliged to pay the capital gains tax by agreement is entitled to rectification and refund of the undue payment