Last May 25, Law 12/2023, which includes tax measures related to rental housing, was published in the Official Gazette. As from January 1, 2024, the percentages of reduction of the positive net yield derived from the rental of housing are modified. The new reductions are as follows: 90% reduction if the following is met: –… Continue reading Tax advisor: New reductions in the Personal Income Tax related to the rental of housing
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Tax advisor: TEAC exempts taxpayer from paying tax on past interest on late payment of taxes
In two recent rulings, the Central Economic-Administrative Court (TEAC) has protected taxpayers who could face a tax regularization due to a recent Supreme Court ruling on the taxation of late payment interest. Specifically, this agency, which is part of the Ministry of Finance and Public Function, has determined that the tax authority cannot take advantage… Continue reading Tax advisor: TEAC exempts taxpayer from paying tax on past interest on late payment of taxes
Tax advisor: New procedure for the submission of the communication of art. 48 RIS in relation to restructuring operations
In order to simplify the filing of the communication required in article 48 of the Corporate Income Tax Regulation (RIS) for certain restructuring operations, a specific filing procedure is established in the digital platform of the State Agency of Tax Administration. It is recalled that Article 48 of Royal Decree 634/2015, of July 10, which… Continue reading Tax advisor: New procedure for the submission of the communication of art. 48 RIS in relation to restructuring operations
Tax advisor: Income tax and non-resident income tax return forms
Order HFP/523/2023 approves the income tax and non-resident income tax return forms for permanent establishments and entities under the income attribution regime abroad with presence in Spain. It applies to the 2022 tax periods and establishes instructions and conditions for electronic filing. It will come into force as from 1 July 2023. Published rules –… Continue reading Tax advisor: Income tax and non-resident income tax return forms
Tax advisor: What is the equivalence surcharge?
The equivalence surcharge is a special VAT system that is mandatory for retailers who market products without making any form of modification to them. Although it is normally applied to companies, it can also affect civil societies, inheritance and community of goods, as long as all its members are individuals. Some activities are exempt from… Continue reading Tax advisor: What is the equivalence surcharge?
Tax Advisor: Tax measures for the right to housing
In the publication of the Official State Gazette (BOE) of May 25, 2023, Law 12/2023, of May 24, which establishes the right to housing, has been enacted. This law includes in its second and third final provisions fiscal measures that impact personal income tax (IRPF) and real estate tax (IBI), respectively. News As regards Personal… Continue reading Tax Advisor: Tax measures for the right to housing
Tax Advisor: The constitutionality of the Personal Income taxation of assets received by virtue of succession agreements and contracts of inheritance provided for in the existing Foral Civil Laws
The Constitutional Court has issued a statement in which it advances part of the ruling and the sentence, arguing that there is no double taxation because the economic capacity taxed in the Personal Income Tax (IRPF) is different from that taxed in the Inheritance and Gift Tax (ISD). In relation to whether the “apartación” is… Continue reading Tax Advisor: The constitutionality of the Personal Income taxation of assets received by virtue of succession agreements and contracts of inheritance provided for in the existing Foral Civil Laws
Tax advisor: Modification of the LGT, the LIVA, the LIS and other tax regulations
On 25 May 2023, Law 13/2023 has been published in the BOE , of May 24, which amends the General Tax Law (LGT) to transpose Council Directive (EU) 2021/514 in relation to administrative cooperation in the field of taxation, together with other tax regulations. Specifically, this regulation introduces changes to the Value Added Tax Law… Continue reading Tax advisor: Modification of the LGT, the LIVA, the LIS and other tax regulations
Tax advisor: The presence of simulation through the artificial division of the economic activity of the appellant has not been demonstrated.
The High Court of Justice of Madrid, in its judgment of March 1, 2023, examines the possible artificial division of the appellant’s economic activity for indications of simulation. However, before addressing the merits of the dispute, the Chamber rules on the extension of the term that has occurred in the inspection process. Thus, the Chamber… Continue reading Tax advisor: The presence of simulation through the artificial division of the economic activity of the appellant has not been demonstrated.
Tax advisor: CNAE Code and its inclusion in tax forms
The CNAE code, which stands for National Classification of Economic Activities, is a classification system used to categorize and group economic activities carried out by companies and self-employed individuals. It is used in many countries, including Spain, to facilitate the collection and analysis of information on the business fabric. The CNAE code is necessary to… Continue reading Tax advisor: CNAE Code and its inclusion in tax forms