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…

What effect will the lockdown have on tax residency? Both the Spanish government and Tax Agency have failed to address this issue. Days spent under lockdown will not count towards tax residency in countries like Germany or France. AUTHOR: Andreu Bové, Tax Advisor Bové Montero y Asociados BOVÉ_CINCODÍAS_210520   The lockdown imposed by our governments…

Board of directors: personal income tax exemption on income earned abroad   AUTHOR: Francisco Javier Rodríguez. Tax Manager Bové Montero y Asociados   In light of the National High Court pronouncing in favour of the taxpayer, and while we await the Supreme Court’s judgment, it may be premature to rule out the possibility of directors…

  Global mobility after COVID-19 On 8 May, Bové Montero y Asociados organised a webinar in collaboration with the British Chamber of Commerce in Spain. The global crisis caused by COVID-19 has affected all businesses to a greater or lesser extent, and one of the biggest impacts has been the restrictions on employee mobility. Last…

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…

  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…

Tax webinar with the German Chamber to tackle COVID-19   On Friday 3 April, Bové Montero y Asociados, in collaboration with the German Chamber of Commerce in Spain, organised a webinar called “Extraordinary tax measures to tackle COVID-19 in Spain”. This session formed part of the Chamber’s “Current legal and tax affairs” series, bringing together…

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