The Constitutional Court has ruled that ‘lifetime inheritances’ must be taxed in the Personal Income Tax (IRPF). This is the conclusion reached by the court in rejecting the appeal filed by the Xunta de Galicia against the modifications approved in 2021 to combat tax fraud, which focused on this type of donations. The Plenary considers… Continue reading Tax advisor: Galicia’s appeal against lifetime inheritance dismissed
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Tax advisor: The allowances for living expenses in Personal Income Tax
The Personal Income Tax (IRPF) regulations exempt from taxation the amounts allocated by the company to compensate the usual food and lodging expenses in restaurants, hotels and other accomodations, when the worker travels to a municipality other than his usual place of work and place of residence. However, there are specific exceptions (indicated in article… Continue reading Tax advisor: The allowances for living expenses in Personal Income Tax
Tax advisor: Personal Income Tax treatment of the regularization of the RETA quotas
The Directorate General of Taxes addresses in an binding consultation (V2518-22) issued on December 7, 2022 the personal income tax (IRPF) tax treatment of the adjustment of social security contributions paid by self-employed workers in the previous year, in accordance with the new contribution system established in article 308 of the General Social Security Law… Continue reading Tax advisor: Personal Income Tax treatment of the regularization of the RETA quotas
Tax advisor: Deductibility in the Corporate Tax denied after justifying it with general considerations without effective impact on the assets
The High Court of Justice of the Balearic Islands examines the deductibility of an impairment provision made by the taxpayer in 2014 for five properties. The Chamber begins by highlighting that, according to accounting rules, a property experiences impairment when its book value is greater than its recoverable amount, which is the higher of its… Continue reading Tax advisor: Deductibility in the Corporate Tax denied after justifying it with general considerations without effective impact on the assets
Tax advisor: Issuance of explanatory notes on excise taxes by the AEAT
The Tax Agency has issued 4 explanatory notes related to excise taxes, which are available on its website. In one of the notes, the Tax Agency addresses the issue of the period of validity of old tax seals affixed to beverages derived from January 2023. According to the AEAT, it considers it appropriate to continue… Continue reading Tax advisor: Issuance of explanatory notes on excise taxes by the AEAT
Tax advisor: Personal Income Tax applicable in case of a taxpayer changing region in 2022
One of the questions that may arise for taxpayers is to determine which regional level of Personal Income Tax they should be subject to if they have changed their residence region during the year 2022. In order to know how to apply the tax, several criteria must be paid attention to. The first critera to… Continue reading Tax advisor: Personal Income Tax applicable in case of a taxpayer changing region in 2022
Tax advisor: Movements sanctioned by the Treasury if not declared
We examine the details of the monetary transactions for which the Treasury can impose sanctions, as well as the consequences of not complying with tax obligations. What transactions must be declared within Spain? – Real estate transactions: Any sale, donation or any other type of transaction related to real estate must be reported. This covers… Continue reading Tax advisor: Movements sanctioned by the Treasury if not declared
Tax advisor: Tax developments in administrative cooperation in the fiscal area and other tax regulations
Law 58/2003 of December 17, 2003, General Tax Law, following the guidelines of Council Directive (EU) 2021/514 of March 22, 2021, which alters Directive 2011/16/EU on administrative cooperation in the field of taxation, and other tax provisions, has been approved and is ready for its disclosure in the BOE and its implementation. The purpose of… Continue reading Tax advisor: Tax developments in administrative cooperation in the fiscal area and other tax regulations
Tax advisor: Possibility of correcting tax payments without filing a complementary return
The approval of several tax regulations by the Congress of Deputies has been accompanied by the incorporation of a unique system used for the correction of self-assessments. In this way, the rectification of the self-assessment is regulated, which will replace the dual system of complementary self-assessment. The purpose is that taxpayers can rectify the self-assessment… Continue reading Tax advisor: Possibility of correcting tax payments without filing a complementary return
Tax advisor: New taxes approved in Gipuzkoa
In the Official Gazette of Gipuzkoa of today, May 22, 2023, two foral decrees relevant for the territory have been published: FORAL REGULATIVE DECREE 1/2023, of May 9, of the Historical Territory of Gipuzkoa, on the special tax on non-reusable plastic packaging, and FORAL REGULATIVE DECREE 2/2023, of May 9, of the Historical Territory of… Continue reading Tax advisor: New taxes approved in Gipuzkoa