Spanish Tax Authority,requires donors to apply capital gains tax in the IRPF on assets transferred in the operation that are not related to business activity. According to a resolution by The Central Economic Administrative Tribunal (TEAC) has upheld an approach that discourages the transfer of family businesses during the owner’s lifetime. According to a TEAC… Continue reading Tax advisor: The Central Economic-Administrative Court (TEAC) establishes criteria affecting family business succession
Tag: fine
Tax advisor: Key changes in Spanish tax legislation in compliance with the EU Directive 2021/514
Law 13/2023, which amends the General Tax Law and other tax regulations in compliance with EU Directive 2021/514, establishes in its Final Provision 5th a new wording of the limitation rule for the deductibility of financial expenses in Article 16 of the Corporate Income Tax Law (LIS). This modification is carried out to align Spanish… Continue reading Tax advisor: Key changes in Spanish tax legislation in compliance with the EU Directive 2021/514
Tax advisor: Franchised VAT, is it all it seems?
2024 is shaping up to be the year when taxpayers under the simplified VAT regime and in objective estimation for income tax (IRPF) should start planning their transition and adapting to the recent tax regimes. For the past few months, the government and social agents have been discussing the implementation of European Directive 2020/285, which… Continue reading Tax advisor: Franchised VAT, is it all it seems?
Tax advisor: News and Pitfalls of the New Beckham Law
The new Impatriates Law introduces several changes and precautions to consider. Firstly, the period during which a person can apply for this regime without having previously been a tax resident in Spain has been reduced from 10 to 5 years. This is advantageous for mobile workers, but it’s crucial to pay attention to the details.… Continue reading Tax advisor: News and Pitfalls of the New Beckham Law
Tax advisor: High Fortunes in Spain: Wealth Map in 2022
86% of the 12,000 taxpayers of the Temporary Solidarity Tax on Large Fortunes reside in Madrid. Beyond its revenue-generating capacity, wealth taxes have always been useful for mapping the wealth within a territory. In this context, the new Temporary Solidarity Tax on Large Fortunes, which has collected 623 million euros, provides us with a map… Continue reading Tax advisor: High Fortunes in Spain: Wealth Map in 2022
Tax advisor: Work Retention Rates in 2023: Significant Changes and Substantial Reductions
In the fiscal revenue report for the month of July, it is observed that tax revenues reached 40.910 billion euros, representing a 4.3% increase compared to the same month in 2022. This increase is primarily attributed to the strong performance of salary and professional activity withholdings, which experienced a 10.4% growth in July and an… Continue reading Tax advisor: Work Retention Rates in 2023: Significant Changes and Substantial Reductions
Tax advisor: According to the CJEU, the unauthorized removal of an excise goods from the suspension regime precludes tax exemption for the authorized warehousekeeper.
An Italian company engaged in the storage and transport of petroleum products was merged by absorption. As an authorized warehouse keeper, it made 196 shipments of hydrocarbons (diesel and gasoline) from its tax warehouse in Italy to a company in Slovenia, which was authorized to receive these products as a registered trader. However, the Customs… Continue reading Tax advisor: According to the CJEU, the unauthorized removal of an excise goods from the suspension regime precludes tax exemption for the authorized warehousekeeper.
Tax advisor: Is deduction the same as tax relief?
Deduct and deduct are two common terms in the context of Personal Income Tax (IRPF) that are frequently used. These terms relate to opportunities to reduce the amount of tax payable, something that the self-employed should understand. When we refer to the deduction in the income tax return, we are talking about the possibility of… Continue reading Tax advisor: Is deduction the same as tax relief?
Tax advisor: The CJEU considers that the sanction and revocation of authorization for tax warehouse do not violate proportionality principle in case of serious excise duty infringements
Both the financial penalty and the revocation of the authorization to operate a tax warehouse were applied due to a serious infringement of the excise duty regime committed by the company in question, as considered by national law. The revocation of the authorization was taken after the pecuniary penalty, based on an assessment of the… Continue reading Tax advisor: The CJEU considers that the sanction and revocation of authorization for tax warehouse do not violate proportionality principle in case of serious excise duty infringements
Tax advisor: Movements sanctioned by the Treasury if not declared
We examine the details of the monetary transactions for which the Treasury can impose sanctions, as well as the consequences of not complying with tax obligations. What transactions must be declared within Spain? – Real estate transactions: Any sale, donation or any other type of transaction related to real estate must be reported. This covers… Continue reading Tax advisor: Movements sanctioned by the Treasury if not declared