The Royal Decree-Law 5/2023, published in the BOE on June 29, 2023, contains tax measures in response to the war in Ukraine, support for the reconstruction of the island of La Palma and other situations of vulnerability. Highlights include the extension of tax rates in the value added tax, new deductions in the income tax… Continue reading Tax advisor: RDL 5/2023: Tax measures as a result of the economic repercussions of the war in Ukraine
Tag: Spain
Tax advisor: New VAT obligations for payment service providers to be introduced from 2024 onwards
As of July 1, 2021, Value Added Tax (VAT) regulations related to the taxation of e-commerce transactions were implemented in compliance with the transposition into Spanish law of Directive 2017/2455. This regulation introduced a notional provision according to which, when certain online deliveries of goods are made through a digital platform, the platform itself is… Continue reading Tax advisor: New VAT obligations for payment service providers to be introduced from 2024 onwards
Tax Advisor: Corporate Income Tax Benefits in 2023
In this article we will define some of the main tax benefits of the Corporate Tax in 2023, mostly focused on emerging companies. Any citizen should be aware of all these novelties at the time of filing the tax return. Law 31/2022 of the General State Budget has introduced an important novelty in the Corporate… Continue reading Tax Advisor: Corporate Income Tax Benefits in 2023
Tax advisor: Income from movable capital in kind derived from a related entity
Income in kind from movable capital that an individual receives as compensation for a related party transaction must be assessed in accordance with corporate income tax rules. An entity in which two natural person partners have a 50% shareholding assumes several personal expenses of such partners, such as those related to boats, vehicles, real estate… Continue reading Tax advisor: Income from movable capital in kind derived from a related entity
Tax Advisor: The Supreme Court of Navarra determines that the appellant contradicts herself in asserting the statute of limitations to regularize, since she benefited from the reinvestment exemption without correcting it in her tax returns
The Supreme Court of Navarra, in its Ruling of February 14, 2023, examines when the non-compliance with the requirements to apply the deduction for reinvestment of extraordinary profits occurred. According to the Chamber, there is no statute of limitations for the action to regularize the situation once it has been established that the reinvestment was… Continue reading Tax Advisor: The Supreme Court of Navarra determines that the appellant contradicts herself in asserting the statute of limitations to regularize, since she benefited from the reinvestment exemption without correcting it in her tax returns
Tax advisor: Effective annual interest rate corresponding to the third quarter of 2023, used for tax classification purposes of specific financial assets.
The Resolution of June 20, 2023, issued by the General Secretariat of the Treasury and International Finance, has been published in the BOE on June 26, 2023. This resolution discloses the effective annual interest rate for the third calendar quarter of the year 2023, used to tax classify as explicit yield to financial assets with… Continue reading Tax advisor: Effective annual interest rate corresponding to the third quarter of 2023, used for tax classification purposes of specific financial assets.
Tax Advisor: Corporate Income Tax data for the year 2022
The Spanish Tax Agency has announced that the fiscal data corresponding to the Corporate Income Tax for the year 2022 are now available for consultation and download. To access this data, taxpayers must authenticate themselves using valid credentials. The only type of credential accepted is the electronic certificate recognized by the AEAT. In addition, the… Continue reading Tax Advisor: Corporate Income Tax data for the year 2022
Tax advisor: Ways to take advantage of donations to reduce the tax burden on the Personal Income Tax return
Donations can have a positive impact on your tax burden, as they not only contribute to charitable causes, but also provide significant tax benefits. When filing your income tax return, we can use donations to reduce the amount you have to pay. Below, we will explain the requirements and steps to take full advantage of… Continue reading Tax advisor: Ways to take advantage of donations to reduce the tax burden on the Personal Income Tax return
Tax advisor: Taxation on the delivery of shares or stock in emerging companies
As from January 1st, 2023, the regulation of the taxation of the income from work in kind arising from the delivery of shares or participations of emerging companies is established. As from this date, the main new features are as follows: – Exemption: the delivery of shares or participations to active employees of an emerging… Continue reading Tax advisor: Taxation on the delivery of shares or stock in emerging companies
Tax Advisor: The Supreme Court establishes that the Tax Administration Agency has the burden of proving the abuse of the IRNR exemption
The Contentious-Administrative Chamber of the Supreme Court has established that the Tax Administration has the burden of proving the abuse that prevents the application of the exemption in the Non-Resident Income Tax (IRNR). The Supreme Court has analyzed the case law of the Court of Justice of the European Union, and adjusts its doctrine to… Continue reading Tax Advisor: The Supreme Court establishes that the Tax Administration Agency has the burden of proving the abuse of the IRNR exemption