The European Union has presented two directive proposals that could have a significant impact on the taxation of multinational corporations in Europe. Both proposals fall under the umbrella of BEFIT but differ in their objectives and scope.One of them pertains to the regulation of transfer pricing and aims to incorporate the principle of fair competition… Continue reading Tax advisor: EU Directive proposals and their impact on multinational companies’ taxation
Tag: Spain
Tax advisor:Analysis of the justification for applying the median in transfer pricing adjustment
In the opinion of the National High Court, the justification provided by the tax authority regarding the excessive breadth of the profit margins is not considered detailed enough to support the application of the median as explained. Therefore, this objection is accepted, and it is determined that the application of the lower point within the… Continue reading Tax advisor:Analysis of the justification for applying the median in transfer pricing adjustment
Tax advisor: The Central Economic-Administrative Court (TEAC) establishes criteria affecting family business succession
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
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?