Publications

  The CJEU condemns Spain for Form 720   The Court of Justice of the European Union has just published its ruling on the Declaration on assets and rights located abroad (Form 720). With this ruling, the CJEU condemns Spain for failing to fulfil its obligations with regard to the free movement of capital.   […]

  Do you have more than 250 employees in your company? You are probably obliged to file a Non-Financial Report (NFR)). Let us explain the key aspects of this law and help you to submit it.   In recent years, there has been a growing demand for more transparency from investors, consumers and society at […]

  Extemporaneous offsetting of NOLs   Authors: Andreu Bové (Partner of Bové Montero y Asociados) and Jorge Bonilla (Tax department of Bové Montero y Asociados)   The Spanish Supreme Court confirms through two judgments that the offsetting of Net Operating Losses (NOLs) is a right and not a tax option. With these rulings, the High […]

    The Constitutional Court has advanced, by means of an informative note, the content of a judgement declaring the unconstitutionality of the Tax on the Increase in Value of Urban Land (IIVTNU), the well-known “plusvalía municipal”. In particular, the Supreme Court declares the unconstitutionality and nullity of Articles 107.1, 107.2 (a) and 107.4 of […]

    New law on measures to prevent and combat tax fraud     The recently published Anti-fraud Act transposes the European Union (EU) law on tax avoidance practices and, in addition, introduces changes designed to establish the parameters for tax justice, and to facilitate actions aimed at preventing and combating fraud by strengthening tax […]

  Author: Andreu Bové, Partner of Bové Montero y Asociados   On 1 July, the scope of the so-called “”One Stop Shop” for VAT will be extended. Currently this “one-stop” tax collection system is already being used for certain telecommunication services. The implementation of this new “One Stop Shop (OSS)” system has as its main […]

In light of the recent approval and entry into force of the Digital Services Tax Act and its implementing regulations, affected companies must file their first tax return during the month of July 2021. In this update we will briefly outline the international tax situation and the practical application of this new tax in Spain. […]

The obligation for companies to keep a salary register comes into force on 14th April   The obligation for companies with over 100 employees to implement a gender equality plan and conduct a pay audit came into force this month (March 2021).     March 2019 saw the publication of Royal Decree-law 6/2019, setting out the obligation […]

  The Spanish General Budget Act for 2021 has introduced several tax changes that aim to increase tax revenues. The national regulation was passed at the last minute, having been published on 30 December 2020 to be applied with immediate effect from 1 January 2021. Some of the main tax measures are:   Personal Income […]

The key points of the new law on remote work in Spain   Spain’s Council of Ministers has given the green light to the first regulations on teleworking in Spain. In this article we sum up the main points of Royal Decree-law 28/2020, of 22 September, on remote working. First of all, the distinction should be […]

  RDL 19/2020: main commercial and tax changes   At Bové Montero y Asociados we summarise and analyse the main tax and commercial changes adopted in Royal Decree-law 19/2020, of 26 May 2020. These include changes to: Deadlines for preparing and approving annual accounts Filing annual accounts with the Commercial Register Deferring tax liabilities Filing […]

We highlight some of the latest tax measures introduced by the government, with effect from 23 April 2020:   1. Reduced 0% VAT rate for specific medical equipment. Zero-rate VAT will be applied to supplies of goods, imports, and intra-EU acquisitions of goods when the recipients are hospitals, clinics, public bodies, or private centres that […]

  From 23 April 2020, electronic books, newspapers, and magazines will be taxed at 4% VAT.   Until now, the Spanish Tax Agency had repeatedly responded to queries by applying a higher VAT rate compared to goods supplied in printed format, only allowing the 4% VAT rate for books that had been transferred to reading […]

International Tax – COVID-19: OECD Recommendations   The OECD has recently issued recommendations on the implications of the COVID-19 crisis on cross-border workers, permanent establishments and the place of effective management of companies. Although these recommendations should be interpreted as soft law (i.e. not legally binding), they can be used as guidance until the Tax […]

Finacining in times of COVID-19 From Monday 6 April 2020, businesses can access the new financing facility guaranteed by the ICO (Instituto de Crédito Oficial). This measure activates the first 20-billion-euro tranche of the 100-billion-euro “Guarantee Line”, which the government has approved to deal with the lack of liquidity caused by COVID-19. How does it […]