Tag: Wealth Tax

Tax advisor: Constitutional Court Ruling: Support for the Wealth Tax and Disagreements

The Constitutional Court backed the wealth tax, rejecting the appeal filed by the President of the Community of Madrid, Isabel Díaz Ayuso. The ruling, approved by seven progressive votes against four conservative ones, bases its support for the tax on the lack of confiscatory nature and the absence of violation of regional competencies. The dissenting… Continue reading Tax advisor: Constitutional Court Ruling: Support for the Wealth Tax and Disagreements

Tax advisor: Constitutional Court Decision on Wealth Tax in Madrid

The Constitutional Court has rejected the unconstitutionality appeal filed by the Community of Madrid against Law 38/2022, which establishes the temporary solidarity tax on large fortunes. The Community of Madrid argued that this tax interferes with its financial autonomy by nullifying the management of devolved taxes, especially the wealth tax, and that it harms its… Continue reading Tax advisor: Constitutional Court Decision on Wealth Tax in Madrid

Tax advisor: The Constitutional Court will discuss the constitutionality of the Temporary Solidarity Tax on Large Fortunes on Tuesday

The matter has been included in the agenda of the next session of the court to discuss the appeal filed by the Community of Madrid against this temporary tax. The Constitutional Court will examine the legitimacy of the temporary tax on large fortunes on October 24. The Plenary Session of the highest authority in the… Continue reading Tax advisor: The Constitutional Court will discuss the constitutionality of the Temporary Solidarity Tax on Large Fortunes on Tuesday

Tax advisor: The anticipation of an imminent ruling by the Constitutional Court on the Temporary Solidarity Tax on Large Fortunes puts pressure on those taxpayers who have not yet appealed it

The judges of the Constitutional Court foresee resolving the constitutional challenges from the autonomous communities against the Temporary Wealth Tax in just two weeks. The crucial decision regarding the new tax on large fortunes, promoted by the Ministry of Finance and challenged by several autonomous governments, is approaching. The Constitutional Court will rule on its… Continue reading Tax advisor: The anticipation of an imminent ruling by the Constitutional Court on the Temporary Solidarity Tax on Large Fortunes puts pressure on those taxpayers who have not yet appealed it

Tax advisor: Madrid Court annuls TEAR resolution due to incongruity in accounting case

In its ruling of July 12, 2023, the Superior Court of Justice of Madrid examines whether the challenged decision of the Regional Economic-Administrative Court of Madrid (TEAR) violates the principle of congruence and, in that context, assesses the implications of possible incongruity. The court argues that TEAR bases its resolution on issues related to the… Continue reading Tax advisor: Madrid Court annuls TEAR resolution due to incongruity in accounting case

Tax advisor: New Taxes in the Basque Provincial Governments: Temporary Solidarity Tax for Large Fortunes (TSTLF)

The provincial governments of Álava, Bizkaia, and Gipuzkoa have cooperatively drafted the respective preliminary drafts of the Foral Norm for the Temporary Solidarity Tax for Large Fortunes. In this manner, these regional institutions continue to progress in the necessary procedures for integrating this new tax into the tax systems of their respective historical territories and… Continue reading Tax advisor: New Taxes in the Basque Provincial Governments: Temporary Solidarity Tax for Large Fortunes (TSTLF)

Tax advisor:The National Court orders the refund of withholding taxes to foreign investment funds in Spain

The National Court has been resolving appeals filed by non-resident investment funds challenging the withholdings applied by the Tax Agency to dividends from Spanish companies. These withholdings, imposed at a rate of 15%, were deemed unfair compared to the 1% applied to similar institutions resident in Spain. As a result of the Supreme Court’s judgments… Continue reading Tax advisor:The National Court orders the refund of withholding taxes to foreign investment funds in Spain

Tax advisor: Fiscal Treatment of the Sale of shares in photovoltaic solar park development companies and its temporal allocation in the corporate income tax

Subsidiaries engaged in promoting photovoltaic solar parks are not considered holding companies, as they are involved in an economic activity. If these entities manage production resources or human capital to participate in the production or distribution of goods or services in the market, they may qualify for a tax exemption under Article 21 of the… Continue reading Tax advisor: Fiscal Treatment of the Sale of shares in photovoltaic solar park development companies and its temporal allocation in the corporate income tax