In the fiscal revenue report for the month of July, it is observed that tax revenues reached 40.910 billion euros, representing a 4.3% increase compared to the same month in 2022. This increase is primarily attributed to the strong performance of salary and professional activity withholdings, which experienced a 10.4% growth in July and an… Continue reading Tax advisor: Work Retention Rates in 2023: Significant Changes and Substantial Reductions
Tag: Wealth Tax
Tax advisor: According to the CJEU, the unauthorized removal of an excise goods from the suspension regime precludes tax exemption for the authorized warehousekeeper.
An Italian company engaged in the storage and transport of petroleum products was merged by absorption. As an authorized warehouse keeper, it made 196 shipments of hydrocarbons (diesel and gasoline) from its tax warehouse in Italy to a company in Slovenia, which was authorized to receive these products as a registered trader. However, the Customs… Continue reading Tax advisor: According to the CJEU, the unauthorized removal of an excise goods from the suspension regime precludes tax exemption for the authorized warehousekeeper.
Tax advisor: Is deduction the same as tax relief?
Deduct and deduct are two common terms in the context of Personal Income Tax (IRPF) that are frequently used. These terms relate to opportunities to reduce the amount of tax payable, something that the self-employed should understand. When we refer to the deduction in the income tax return, we are talking about the possibility of… Continue reading Tax advisor: Is deduction the same as tax relief?
Tax advisor: The CJEU considers that the sanction and revocation of authorization for tax warehouse do not violate proportionality principle in case of serious excise duty infringements
Both the financial penalty and the revocation of the authorization to operate a tax warehouse were applied due to a serious infringement of the excise duty regime committed by the company in question, as considered by national law. The revocation of the authorization was taken after the pecuniary penalty, based on an assessment of the… Continue reading Tax advisor: The CJEU considers that the sanction and revocation of authorization for tax warehouse do not violate proportionality principle in case of serious excise duty infringements
Tax Advisor: Extremadura reduces the Personal Income Tax in the first two brackets and eliminates Wealth Tax
The Governing Council of the Regional Government of Extremadura approved a decree law with urgent measures that include the reduction of the first two income tax brackets, mainly affecting incomes below 22,200 euros, as well as the total elimination of the Wealth Tax. The autonomic Administration highlighted that these measures will have retroactive effect as… Continue reading Tax Advisor: Extremadura reduces the Personal Income Tax in the first two brackets and eliminates Wealth Tax
Tax Advisor: More than 500 fortunes avoid paying Wealth Tax thanks to their residency in Madrid
In the last 10 years, the number of taxpayers with a net wealth of more than €30 million has doubled in number, from 443 people in 2012 to a record 831 people by the end of 2021, according to data provided by the Tax Agency. Surprisingly, however, less than half of these high-net-worth individuals paid… Continue reading Tax Advisor: More than 500 fortunes avoid paying Wealth Tax thanks to their residency in Madrid
Tax Advisor: Assets abroad do not exempt you from paying taxes in Spain
Owning assets abroad does not make you exempt from your tax obligations. It is necessary to know which of these possessions must be declared and how to do it. In the first quarter of the year it is necessary to submit Form 720 specifying the assets located abroad. It is an informative form so that… Continue reading Tax Advisor: Assets abroad do not exempt you from paying taxes in Spain
Tax advisor: Tax consequences of a transfer of residence from France
A French married couple residing in France is considering moving to Spain and wants to know what tax implications this would have in terms of income tax, wealth tax, inheritance tax and the declaration of their assets abroad. Regarding personal income tax, the income generated by the French companies to which the married couple belongs… Continue reading Tax advisor: Tax consequences of a transfer of residence from France
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