The Ministry of Finance and Public Function has issued an Order to postpone the implementation of the new self-declaration system for the Financial Transactions Tax, known as the ‘Tobin tax’, until January 1, 2024. This decision seeks to allow the tax systems of Navarre and the Basque deputations to adjust to the tax. The modification… Continue reading Tax advisor: The Treasury delays the self-declaration form of the Financial Transactions Tax to 2024
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Tax advisor: Is it valid to automatically offset a credit and a debt in the enforcement period before duly notifying the order of constraint?
The ruling under appeal determined that the Administration, without going back in the collection process to properly notify the levy order, despite the cancellation of a seizure proceeding in accordance with the resolution of the Economic-Administrative Court (TEAR), proceeded to offset a credit in favor of the claimant and a debt derived from a liquidation.… Continue reading Tax advisor: Is it valid to automatically offset a credit and a debt in the enforcement period before duly notifying the order of constraint?
Tax advisor: The Personal Income Tax for retirees according to the Tax Authorities
The increase in pensions, for the most part, is highly beneficial for retirees. However, this implies a proportional increase in the tax burden. Retirement pensions are not tax exempt and the Tax Agency will require a higher percentage of IRPF due to the increase in Social Security benefits. This year, pensions based on contributions have… Continue reading Tax advisor: The Personal Income Tax for retirees according to the Tax Authorities
Tax Advisor: The Supreme Court reduces fines from the Tax Authorities for using intermediate companies and paying less taxes
Citizens penalized for using intermediary companies in order to reduce their income tax (IRPF) can now subtract the amounts paid for corporate income tax when calculating the basis of the fine, according to a Supreme Court ruling issued on June 8, 2023. The reporting judge argues that in these cases the economic damage to public… Continue reading Tax Advisor: The Supreme Court reduces fines from the Tax Authorities for using intermediate companies and paying less taxes
Tax advisor: Tributes highlights the location of taxation for monetary gifts from abroad
In binding consultation V1903-23, issued on June 30, 2023, the Directorate General of Taxes clarifies to a resident whether he should be taxed in Spain for Inheritance and Gift Tax when receiving a monetary donation from abroad. In this case, a son received a monetary donation from his mother from Argentina, proceeds from the sale… Continue reading Tax advisor: Tributes highlights the location of taxation for monetary gifts from abroad
Tax advisor: The Directorate General of Taxes issues its opinion on how walking tours should be taxed
In the recent official consultation (V1886-23) issued on June 29, 2023, the Directorate General of Taxes has indicated that the entrance fee for the well-known “walking tours” will be subject to a taxation of 10% due to their character of live theatrical show. Likewise, the services offered by actors and technical personnel, when performed as… Continue reading Tax advisor: The Directorate General of Taxes issues its opinion on how walking tours should be taxed
Tax Advisor: Key Aspects of the Beckham Law
The Beckham Law, also called Special Regime, is a tax legislation implemented in certain countries with the purpose of attracting high income individuals, especially sportsmen and celebrities. This regulation has generated extensive discussions due to its tax consequences and implications. Eligibility for the Beckham Law In general, expatriates who choose to move to Spain can… Continue reading Tax Advisor: Key Aspects of the Beckham Law
Tax advisor: Alava adapts its VAT and excise tax rules to the latest modifications in the common territory
In the Official Gazette of the Historical Territory of Alava of August 7, the regulatory decrees of fiscal urgency 3/2023 and 4/2023, issued by the Government Council on August 1, were published. These decrees modify the Normative Decree 12/1993 on Value Added Tax and the Normative Decree of Fiscal Urgency 1/1999 which regulates Special Taxes.… Continue reading Tax advisor: Alava adapts its VAT and excise tax rules to the latest modifications in the common territory
Tax advisor: Parents who transfer the family business with assets not linked to the activity will have to pay taxes for capital gains in the Personal Income Tax
In gifts of family businesses from parents to children, in which assets not linked to the activity are included, the donor will be subject to income tax (IRPF) on a capital gain based on the proportion that these assets represent in the assets of the company. This approach is reflected in a decision of the… Continue reading Tax advisor: Parents who transfer the family business with assets not linked to the activity will have to pay taxes for capital gains in the Personal Income Tax
Tax advisor: Court says correction goes against administrative consistency by not having a sound reason for the change
In its ruling of April 20, 2023, the High Court of Justice of Castilla y León (Valladolid) examines whether the Administration has violated the principle of legal certainty by contradicting its own actions and criteria. The Chamber begins by recalling that there is no complete subjection to past acts or administrative precedents. The Administration may… Continue reading Tax advisor: Court says correction goes against administrative consistency by not having a sound reason for the change