The issue of appeal focuses on determining whether, in the context of Personal Income Tax (IRPF), late payment interest, whether resulting from a liquidation in a process of verification of income related to the economic activity of an individual or those generated by the suspension of the execution of a contested administrative act, can be… Continue reading In Personal Income Tax, if a taxpayer carries out an economic activity, late payment interest is a deductible expense
Tag: Spain
FISCAL INNOVATIONS IN THE COMMUNITY OF MADRID FOR 2024: TAX ON LARGE FORTUNES, PERSONAL INCOME TAX AND WEALTH TAX
In 2022, the national level approved the Tax on Large Fortunes, which obliged many Autonomous Communities to modify their regulations regarding Wealth Tax. Among them, the Community of Madrid, which also made adjustments to its tax. Since 2008, a 100% rebate was applied to the Wealth Tax quota. However, with the introduction of the new… Continue reading FISCAL INNOVATIONS IN THE COMMUNITY OF MADRID FOR 2024: TAX ON LARGE FORTUNES, PERSONAL INCOME TAX AND WEALTH TAX
Legal Analysis of Professional and Investor Attraction to Spain Upon the Conclusion of the “Nom-Dom” Regime in the United Kingdom
Due to the UK’s renunciation of its historic special expatriate regime known as “Nom-Dom,” Spain finds itself in a new situation offering the opportunity to attract both qualified professionals and substantial investments. This decision implies that professionals and holders of significant assets currently residing in the UK will lose their main tax benefit, thereby increasing… Continue reading Legal Analysis of Professional and Investor Attraction to Spain Upon the Conclusion of the “Nom-Dom” Regime in the United Kingdom
Will the NON-DOM regime in the UK come to an end? What are the alternatives?
During the presentation of the national Budget last Wednesday, the UK Chancellor of the Exchequer announced the abolition of the “Non-Domiciled” tax regime, a feature of the UK tax system with more than two centuries of history, from 6 April 2025. In this article we will analyse the consequences of the possible end of this special tax… Continue reading Will the NON-DOM regime in the UK come to an end? What are the alternatives?
Forthcoming reforms to the UK non-dom regime
The UK non-dom regime is a tax regime characterised by the absence of taxation of income received from abroad, except for income remitted to the UK, whereby capital gains arising in the UK are taxed exclusively for a period of seven years. In recent months, the debate on a possible reform of this attractive tax regime has… Continue reading Forthcoming reforms to the UK non-dom regime
Announcement for the 2023 Income Tax Campaign
It is hereby informed that the Personal Income Tax (IRPF) declaration campaign for the fiscal year 2023 has been officially launched. From April 3rd to July 1st, 2024, taxpayers in Spain are obligated to file their Income Tax returns. It is relevant to note that the Tax Agency has introduced changes to the IRPF for the fiscal… Continue reading Announcement for the 2023 Income Tax Campaign
The recent Royal Decree on foreign investments in Spain has been approved
The new Royal Decree 571/2023, approved on 4 July 2023 and published on 5 July 2023, established provisions regarding foreign investments that came into force on 1 September 2023. Its main purpose is to extend and clarify the regulations concerning foreign investments, in accordance with Law 19/2003 of 4 July 2003 on the legal regime… Continue reading The recent Royal Decree on foreign investments in Spain has been approved
Beckham Law: requirements and tax advantages in Spain
The Beckham Law, also known as the Impatriate Law, has, since its application in Spain, benefited people living abroad who choose to reside in Spain with respect to their tax obligations. What does the Beckham Law entail? The Beckham Law, also known as the Impatriate Law, establishes a special tax regime for foreign residents who… Continue reading Beckham Law: requirements and tax advantages in Spain
Beckham Law: what is it and how does it work?
The so-called Beckham Law, officially known as the Special Tax Regime applicable to workers, professionals, entrepreneurs and investors moving to Spanish territory, is regulated in article 93 of the Personal Income Tax Law (IRPF). This legislation establishes a special IRPF taxation framework for those individuals who move to Spain for work purposes, i.e. those who… Continue reading Beckham Law: what is it and how does it work?
Tax advisor: Fiscal resolution for foreign workers: Startup Law and Beckham Law in Spain
In a last-minute decision, the Ministry of Finance resolves the uncertainty affecting foreign workers who moved to Spain in 2022 or 2023 to undertake activities or perform highly qualified functions, as established in the Startup Law of December 2022. These workers had the option to benefit from the special tax regime for expatriates, known as… Continue reading Tax advisor: Fiscal resolution for foreign workers: Startup Law and Beckham Law in Spain