We solve all the questions and concerns that may arise for the taxpayer when filing for the first time the return of the new tax on large estates for the year 2022, whose filing deadline has just begun. Are the inherited estates subject to taxation under the Temporary Solidarity Tax on Large Estates? No. Lapsed… Continue reading Tax Advisor: How does Temporary Solidarity Tax on Large Fortunes affect on ‘Beckham Law’?
Tag: Spain
Tax Advisor: Corporate Tax deductions
In the year 2023, capital companies, such as corporations and limited companies, are subject to a general tax rate of 25%. However, it is important to mention that there is a reduced rate for small companies, which represents a fiscal novelty in that year. Additionally, there is a 15% tax rate applicable to newly created… Continue reading Tax Advisor: Corporate Tax deductions
Tax advisor: The refund of the undue income of the IVMDH is imputed to the year in which the payment of the tax was made
The Supreme Court of the Principality of Asturias, in its ruling of April 12, 2023, examines the correct temporal imputation of the refund of the IVMDDH undue income. The plaintiff argues that such refund should be imputed in the years in which the undue payment was made, not in the 2015 corporate income tax return,… Continue reading Tax advisor: The refund of the undue income of the IVMDH is imputed to the year in which the payment of the tax was made
Tax advisor: The time spent living with the children in shared custody does not affect the minimum for descendants in Personal Income Tax
In cases of shared custody after a nullity, separation or divorce sentence, both parents are entitled to apply the minimum for descendants in equal parts, as established by the Central Economic Administrative Court (TEAC) in its resolution of May 29, 2023. The ruling determines that there is no legal basis for attributing to only one… Continue reading Tax advisor: The time spent living with the children in shared custody does not affect the minimum for descendants in Personal Income Tax
Tax Advisor: The Supreme Court establishes that the basis of the penalty will be the difference between the amount not paid by the individual and the amount paid by the simulated special purpose vehicle.
The Supreme Court, in a ruling dated June 8, 2023, interprets that in case of simulation, the basis of the penalty will be the difference between the amount not paid by the individual and the amount paid by the simulated special purpose vehicle, in relation to the same income. Thus, the Supreme Court confirms the… Continue reading Tax Advisor: The Supreme Court establishes that the basis of the penalty will be the difference between the amount not paid by the individual and the amount paid by the simulated special purpose vehicle.
Tax advisor: Is the ISD kinship reduction applicable in the consolidation of the domain if the self-assessment for the inheritance that gave rise to the dismemberment was not filed and the debt is time-barred?
The liquidation office issued a complementary liquidation due to the fact that the self-assessment for the consolidation of the domain was made applying a reduction that was not appropriate. According to them, no reduction should have been applied at the time of acquisition of the bare ownership, since it would have been consumed in the… Continue reading Tax advisor: Is the ISD kinship reduction applicable in the consolidation of the domain if the self-assessment for the inheritance that gave rise to the dismemberment was not filed and the debt is time-barred?
Tax advisor: What is the last day of the four-year statute of limitations when such day falls on a non-working day?
In the present appeal, it is noted that four years and two days elapsed between March 3, 2014, the date on which the allegations were filed with the TEAC, and March 5, 2018, when the appellant was notified of the TEAC’s resolution. According to Article 66 of the LGT, this period of time would complete… Continue reading Tax advisor: What is the last day of the four-year statute of limitations when such day falls on a non-working day?
Tax Advisor: Is it valid to deduct an expense incorrectly accounted for in a year subsequent to that of its accrual, according to the accounting rules, if the year in which the accrual occurred is already time-barred?
The lower court holds that the tax authorities allow the deduction of an expense accrued in a previous year in a subsequent year, as long as the year in which the accrual occurred is not time-barred, considering the statute of limitations as from the deadline for filing the tax return of the year in which… Continue reading Tax Advisor: Is it valid to deduct an expense incorrectly accounted for in a year subsequent to that of its accrual, according to the accounting rules, if the year in which the accrual occurred is already time-barred?
Tax Advisor: Is it required to increase the global reserves of an entity to be able to apply the reduction of the taxable base of the Corporate Tax, as a depletion factor, in the case of mining regime?
The challenged ruling concluded that, according to the applicable precept, it is a necessary requirement to increase the entity’s reserve accounts by the same amount that the taxable income was reduced. Therefore, the claimant’s argument that there is no legal requirement in this regard is not accepted. The Administration has not considered any other benefit… Continue reading Tax Advisor: Is it required to increase the global reserves of an entity to be able to apply the reduction of the taxable base of the Corporate Tax, as a depletion factor, in the case of mining regime?
Tax advisor: The Supreme Court rules on the basis for the penalty of art. 191 of the General Tax Act in related transactions
The Supreme Court has established jurisprudence through the recent ruling number 744/2023, issued on June 6. In this ruling, the Supreme Court has addressed the issue of the determination of the penalty for the infringement described in article 191 of the General Tax Act. This infringement refers to the omission of the total or partial… Continue reading Tax advisor: The Supreme Court rules on the basis for the penalty of art. 191 of the General Tax Act in related transactions