According to two rulings of the Supreme Court, issued on May 30 and recently disclosed, hotel and restaurant businesses have the right to decrease the amount of Economic Activities Tax (IAE) corresponding to the period in which they had to close due to the coronavirus pandemic. These rulings establish that municipalities must proportionally reduce the… Continue reading Tax advisor: Lower taxation in Economic Activities Tax for the hostelry due to closures during the pandemic
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Tag: Europe
Tax Advisor: Taxation of Deposits and Savings Accounts
Banks now pay interest on customer savings due to rising interest rates. Deposits and savings accounts generate interest to take advantage of the money saved. Deposits involve leaving money in the bank for a certain period of time in exchange for interest, while savings accounts allow customers to access their money whenever they wish. This… Continue reading Tax Advisor: Taxation of Deposits and Savings Accounts
Tax advisor: What does collaboration with the Tax Administration mean and the consequences of non-compliance
In 2003, the General Tax Law was passed, which emphasized the breach of the duty to provide information to the Tax Administration, giving rise to the current article 203 of the LGT and the corresponding penalties. In the old law, resistance or obstruction was considered an aggravating factor in the grading of penalties and only… Continue reading Tax advisor: What does collaboration with the Tax Administration mean and the consequences of non-compliance
Tax advisor: New reductions in the Personal Income Tax related to the rental of housing
Last May 25, Law 12/2023, which includes tax measures related to rental housing, was published in the Official Gazette. As from January 1, 2024, the percentages of reduction of the positive net yield derived from the rental of housing are modified. The new reductions are as follows: 90% reduction if the following is met: –… Continue reading Tax advisor: New reductions in the Personal Income Tax related to the rental of housing
Tax advisor: TEAC exempts taxpayer from paying tax on past interest on late payment of taxes
In two recent rulings, the Central Economic-Administrative Court (TEAC) has protected taxpayers who could face a tax regularization due to a recent Supreme Court ruling on the taxation of late payment interest. Specifically, this agency, which is part of the Ministry of Finance and Public Function, has determined that the tax authority cannot take advantage… Continue reading Tax advisor: TEAC exempts taxpayer from paying tax on past interest on late payment of taxes
Tax advisor: New procedure for the submission of the communication of art. 48 RIS in relation to restructuring operations
In order to simplify the filing of the communication required in article 48 of the Corporate Income Tax Regulation (RIS) for certain restructuring operations, a specific filing procedure is established in the digital platform of the State Agency of Tax Administration. It is recalled that Article 48 of Royal Decree 634/2015, of July 10, which… Continue reading Tax advisor: New procedure for the submission of the communication of art. 48 RIS in relation to restructuring operations
Tax advisor: Income tax and non-resident income tax return forms
Order HFP/523/2023 approves the income tax and non-resident income tax return forms for permanent establishments and entities under the income attribution regime abroad with presence in Spain. It applies to the 2022 tax periods and establishes instructions and conditions for electronic filing. It will come into force as from 1 July 2023. Published rules –… Continue reading Tax advisor: Income tax and non-resident income tax return forms
Tax advisor: What is the equivalence surcharge?
The equivalence surcharge is a special VAT system that is mandatory for retailers who market products without making any form of modification to them. Although it is normally applied to companies, it can also affect civil societies, inheritance and community of goods, as long as all its members are individuals. Some activities are exempt from… Continue reading Tax advisor: What is the equivalence surcharge?
Tax Advisor: Tax measures for the right to housing
In the publication of the Official State Gazette (BOE) of May 25, 2023, Law 12/2023, of May 24, which establishes the right to housing, has been enacted. This law includes in its second and third final provisions fiscal measures that impact personal income tax (IRPF) and real estate tax (IBI), respectively. News As regards Personal… Continue reading Tax Advisor: Tax measures for the right to housing
Tax Advisor: The constitutionality of the Personal Income taxation of assets received by virtue of succession agreements and contracts of inheritance provided for in the existing Foral Civil Laws
The Constitutional Court has issued a statement in which it advances part of the ruling and the sentence, arguing that there is no double taxation because the economic capacity taxed in the Personal Income Tax (IRPF) is different from that taxed in the Inheritance and Gift Tax (ISD). In relation to whether the “apartación” is… Continue reading Tax Advisor: The constitutionality of the Personal Income taxation of assets received by virtue of succession agreements and contracts of inheritance provided for in the existing Foral Civil Laws