Due to the UK’s renunciation of its historic special expatriate regime known as “Nom-Dom,” Spain finds itself in a new situation offering the opportunity to attract both qualified professionals and substantial investments. This decision implies that professionals and holders of significant assets currently residing in the UK will lose their main tax benefit, thereby increasing… Continue reading Legal Analysis of Professional and Investor Attraction to Spain Upon the Conclusion of the “Nom-Dom” Regime in the United Kingdom
Tag: tax residency
Important Changes in UK Tax Legislation Announced in the Spring Budget
The recent announcement by the Chancellor in the context of the spring budget has marked a significant milestone in the field of international taxation in the UK, with substantial changes to the rules regarding tax domicile. This change, seemingly stemming from policies proposed by the Labour Party, constitutes a long-debated revision regarding the tax domicile… Continue reading Important Changes in UK Tax Legislation Announced in the Spring Budget
The Beckham Law and its impact on taxation in Spain
The Beckham Law refers to a tax tool aimed at individuals who move their tax residence to Spanish territory due to engaging in labor activity. This system offers the opportunity to enjoy more advantageous taxation, allowing taxpayers to apply the regulations of the Non-Resident Income Tax (IRNR), even if they meet the requirements to be… Continue reading The Beckham Law and its impact on taxation in Spain
Tax Advisor: Tax analysis of corporate restructuring: Implications on companies, assets, and Inheritance and Gift Tax (ISD)
In response V2752/2023 dated October 10, the General Directorate of Taxes (DGT) analyzes a restructuring operation of a family company (entity A) that owns 100% of entity B. Entity A is responsible for directing and managing the company’s participation in entity B. In 2019, the parents donated shares in entity A to their children, benefiting… Continue reading Tax Advisor: Tax analysis of corporate restructuring: Implications on companies, assets, and Inheritance and Gift Tax (ISD)
Tax Advisor: Exit Tax in Spain: Implications and Strategies
Taxes are often the last consideration when contemplating the possibility of moving out of Spain, unless it is with the explicit goal of reducing the tax burden. Nevertheless, taxes will remain a reality, not only in the new country of residence but also in relation to the decision to cease being a tax resident in… Continue reading Tax Advisor: Exit Tax in Spain: Implications and Strategies
Tax Advisor: Exit Tax in Spain: Exclusions, Deadlines, and Tax Strategies
In Spain, “Exit Tax” entails an additional payment for taxpayers with certain assets when changing their tax residence outside the country, linked to the Personal Income Tax (IRPF). This obligation, established in 2015 and common in the European Union, aims to distribute tax authority among member states. It applies to latent gains for those relocating… Continue reading Tax Advisor: Exit Tax in Spain: Exclusions, Deadlines, and Tax Strategies
Tax advisor: The Supreme Court rules that tax residence conflicts between Spain and a country with a Double Taxation Agreement must be resolved according to the rules of the agreement
The Supreme Court, in its ruling of June 12, 2023, holds that the tax residence conflict must be resolved following the rules established in the Convention. Specifically, reference is made to Article 4.2 of the Convention, which establishes four successive criteria to determine the residence of a natural person in case he/she is a resident… Continue reading Tax advisor: The Supreme Court rules that tax residence conflicts between Spain and a country with a Double Taxation Agreement must be resolved according to the rules of the agreement
Tax Advisor: Extension of the deductions in the Personal Income Tax of the Community of Madrid for 2023
Law 10/2023, of April 12th, which has been published in the Official Gazette of the Community of Madrid, has modified the Law of Madrid’s Assigned Taxes. The objective is to incentivize improvements in rental housing through the introduction of new deductions in the Personal Income Tax. New measures Among all the new measures we will… Continue reading Tax Advisor: Extension of the deductions in the Personal Income Tax of the Community of Madrid for 2023
Tax advisor: The bank certificate is sufficient to prove the loss due to the transfer of financial investments between related companies
The question that arises is the deductibility of losses due to the transfer of financial investments between related companies. The Administration has denied the deduction of the due to the bankruptcy of the related company, considering that the evidence provided by the plaintiff was insufficient. The Chamber considers that the subject matter of the appeal… Continue reading Tax advisor: The bank certificate is sufficient to prove the loss due to the transfer of financial investments between related companies
Tax advisor: Without business concealment, there is no simulation
According to the principles of the General Theory of Law, when a contract is entered into for a different purpose than the one normally attributed to it, a defect in the cause may arise. This situation can be divided into two types of contracts: those with a false cause, in which the parties do not… Continue reading Tax advisor: Without business concealment, there is no simulation
