The tax deductibility of directors´ remuneration is a topic that everyone has been talking for years. The multidisciplinary nature of the matter which cannot be understood if it is not analysed from a triple commercial, labour and tax perspective, and the fact that both Administration and the Courts have pronounced on this matter (and not…
The new Government of the Balearic Islands has abolished the Inheritance and Gift Tax (“ISD”) for acquisitions by death or through inheritance agreements (i.e., inheritance, legacy and inheritance in life) made between parents and children, grandchildren and grandparents, and between spouses. The rule provides that only tax residents in Spain can benefit from this elimination….
The deadline for filing the following tax returns is July 20th, 2023: Form 303: Quarterly VAT return. For taxpayers included in the immediate supply of information (SII) system, the deadline is July 31st, 2023. Form 349: (quarterly/monthly) EC sales list. Form 111: (quarterly/monthly, as applicable) withholdings and payments on account of personal income tax on…
Under the exemption of Article 21 of the Corporate Income Tax Act, companies can transfer shares in other entities and benefit from an exemption of up to 95% of the profit. However, if the transferring entity has the status of an “asset-holding entity”, the exemption does not cover unrealised capital gains, resulting in higher taxation…
Are you an employee working abroad and wish to reduce your tax burden? If so, it is essential that you are aware of article 7.p of the Personal Income Tax Act 35/2006. This legal provision establishes that employees who are tax resident in Spain may apply an exemption to income from work carried out abroad….
Authors: Beltrán Sánchez, Transfer Pricing Partner, and Tomás Luciano Ramin, Transfer Pricing Assistant A few months ago, the Eighteenth Additional Provision was published in the Official State Gazette, concerning Temporary Measures in the Determination of the Tax Base in the Tax Consolidation Regime. At first glance, this measure appears to be controversial, at least…
The Income tax return campaign is already underway and this year the Personal Income Tax (“IRPF” 2022) includes new features that must be taken into account, which we will detail in this article. Deadlines for submission The deadlines to submit the Income tax return, corresponding to the fiscal year 2022, began on 11 April 2023…
With the entry into force on 23 December 2022 of Law 28/2022, of 21 December, on the promotion of the start-up ecosystem, for the first time in Spain, the regulatory framework for innovative new technology-based companies with a scalable and stable business model, known as start-ups, is regulated, including a series of incentives which, in…
Author: Montserrat Carol, Tax Lawyer at Bové Montero y Asociados On December 28th, Law 38/2022 of December 27th was published in the Official State Gazette (“BOE”), which, among other things, provides for the Temporary Solidarity Tax on Large Fortunes (hereinafter, “ITSGF”). The main features of the new tax are as follows: It…
The management of the new Excise Tax on Non-Reusable Plastic Packaging is very complex in practice, both for taxpayers and for the Tax Administration itself Author: Pablo Mateos, Tax Lawyer at Bové Montero y Asociados On 1 January 2023, Law 7/2022 of 8 April on Waste and Contaminated Land for a Circular Economy…
