The recent approval before the Constitutional Court of the Solidarity Tax on Large Fortunes (ISGF) has clearly marked the tax landscape, given the debate that this tax has sparked. This tax, designed, in principle, on a temporary basis for the tax years 2022 and 2023, has been conceived as a measure to counteract the total… Continue reading Temporary Tax on Large Fortunes: what is it, how does it work and who pays it?
Tag: tax
How is the Tax on Large Fortunes calculated?
On 29 December 2022, one day after the publication in the Official State Gazette of Law 38/2022, the Temporary Tax on the Solidarity of Major Fortunes (ITSGF), better known as the Tax on Major Fortunes, came into force. Its implementation has not been without controversy due to its peculiarities. One of these is that it… Continue reading How is the Tax on Large Fortunes calculated?
Interview with Alfonso Garrido, Founding Partner of B Law & Tax, for Inmobiliare magazine
In this article, we detail the interview conducted by Inmobiliare, a magazine specialising in the real estate sector, with the founding partner and director of our firm, Alfonso Garrido, as a specialist in the sector, at the head of a leading firm in international tax advice. B LAW & TAX, based in Madrid, is a… Continue reading Interview with Alfonso Garrido, Founding Partner of B Law & Tax, for Inmobiliare magazine
FISCAL INNOVATIONS IN THE COMMUNITY OF MADRID FOR 2024: TAX ON LARGE FORTUNES, PERSONAL INCOME TAX AND WEALTH TAX
In 2022, the national level approved the Tax on Large Fortunes, which obliged many Autonomous Communities to modify their regulations regarding Wealth Tax. Among them, the Community of Madrid, which also made adjustments to its tax. Since 2008, a 100% rebate was applied to the Wealth Tax quota. However, with the introduction of the new… Continue reading FISCAL INNOVATIONS IN THE COMMUNITY OF MADRID FOR 2024: TAX ON LARGE FORTUNES, PERSONAL INCOME TAX AND WEALTH TAX
Will the NON-DOM regime in the UK come to an end? What are the alternatives?
During the presentation of the national Budget last Wednesday, the UK Chancellor of the Exchequer announced the abolition of the “Non-Domiciled” tax regime, a feature of the UK tax system with more than two centuries of history, from 6 April 2025. In this article we will analyse the consequences of the possible end of this special tax… Continue reading Will the NON-DOM regime in the UK come to an end? What are the alternatives?
Forthcoming reforms to the UK non-dom regime
The UK non-dom regime is a tax regime characterised by the absence of taxation of income received from abroad, except for income remitted to the UK, whereby capital gains arising in the UK are taxed exclusively for a period of seven years. In recent months, the debate on a possible reform of this attractive tax regime has… Continue reading Forthcoming reforms to the UK non-dom regime
List of non-cooperative jurisdictions updated
The European Council today announced the removal of the Bahamas, Belize, Seychelles and the Turks and Caicos Islands from its list of non-cooperative tax jurisdictions. It should be recalled that countries that are considered as non-cooperative jurisdictions are formerly known as “tax havens”. Non-cooperative jurisdictions are characterised by a lack of commitment in the fight… Continue reading List of non-cooperative jurisdictions updated
New Supreme Court ruling on IIVTNU refunds
Recently, a Supreme Court ruling has highlighted the issue of the refund of the IIVTNU, or capital gains local tax. In a communiqué published on the official website of the Judiciary, the ruling issued by the Supreme Court Chamber on February 28th, 2024, is anticipated. The Chamber holds that the restitution of the Tax on… Continue reading New Supreme Court ruling on IIVTNU refunds
Legal changes related to Wealth Tax
Following the declaration of constitutionality, Royal Decree-Law 8/2023 has been extended indefinitely, and several Autonomous Communities have made adjustments to their Wealth Tax regulations in order to attract revenue from this state tax. In this context, it is advisable to carry out a thorough review of both individual and family wealth to mitigate its impact.… Continue reading Legal changes related to Wealth Tax
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
