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?
Tag: European Union
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 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
Tax advisor: New European Union customs reform
The Commission has presented proposals for the most comprehensive reform of the EU Customs Union since its establishment in 1968. The proposals put forward aim to establish a world-leading vision for the use of data in EU customs, which will significantly simplify customs processes for businesses, especially trusted traders. Through digital transformation, this reform will… Continue reading Tax advisor: New European Union customs reform
Tax Advisor: Extension of the deductions in the Personal Income Tax of the Community of Madrid for 2023
Law 10/2023, of April 12th, which has been published in the Official Gazette of the Community of Madrid, has modified the Law of Madrid’s Assigned Taxes. The objective is to incentivize improvements in rental housing through the introduction of new deductions in the Personal Income Tax. New measures Among all the new measures we will… Continue reading Tax Advisor: Extension of the deductions in the Personal Income Tax of the Community of Madrid for 2023
