Now more than ever is a time for solidarity, and at Bové Montero y Asociados we have launched an initiative to help fight the effects of COVID-19 in Spain. Since the crisis began, we have been looking at ways of collaborating in different areas to give something back to society.   Our offices receive a weekly…

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…

  On Wednesday 15th April, Bové Montero y Asociados presented another webinar in collaboration with the Spanish Chamber of Commerce in Italy, “The tax outlook in Spain after COVID-19”.   The Spanish government has adopted urgent extraordinary measures to tackle COVID-19 which will affect businesses when it comes to paying tax. In this session, Andreu…

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…

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