Highlights of the General Canarian Budget 2019 – Effective 1st January 2019 1. General IGIC has been lowered from 7% to 6,5% 2. 0,7% has been lowered to 0,65% for the importation of products subject to the general IGIC of 6,5% 3. In 2018, the new regime REPEP began, which applied an exemption of IGIC […]
Update on the Modelo 179 – information Report on Holiday Lettings The Spanish Tax Authorities have published their answer to a consultation relating to the obligation to present the Modelo 179, which is due to be submitted for the first time in January 2019, clarifying who must present the Report. Property Managers If the Property […]
Maternity benefits received from Social Security have been declared exempt from Personal Income Tax On the 3rd of October the Supreme Courts ruled that maternity benefits should not be considered as taxable income. The Spanish Tax Authorities to date, have always subject this to income tax. Therefore, taxpayers who received maternity benefits in the years 2014, […]
Did you know that Non European Citizens can obtain a Residency Visa if they purchase a property in Spain? Not only can this be obtained by investing in property but also there is the possibility of investing in public debt or a bank deposit account. Residence Permit Property– A property would have to be purchased […]
There are many types of business structures in Spain – choosing the right one for you. The most frequently found legal structures are: Sole Trader/Sole Proprietor (Empresario Individual or Autónomo) Partnership (Sociedad Civil) Limited Liability Company (Sociedad Limitada/SL or Sociedad de Responsabilidad Limitada/SRL Public Limited Company (Sociedad Anonima /SA) New Enterprise Limited Company (Sociedad Limitada […]
If you are living and/or working in Spain, you will be liable to pay Spanish taxes on your worldwide income and assets and will need to file a Spanish tax return.
Spain is divided into 12 autonomous regions, and taxes are split between state and regional governments, with each autonomous region deciding on its own tax rates and liabilities. The tax year runs from 1 January to 31 December.
There are many ways to structure your business venture in Spain. EBF Consulting would study your situation in detail to advise on the most tax efficient option for you. The most frequently found legal structures are: Sole Trader/Sole Proprietor (Empresario Individual or Autónomo) Partnership (Sociedad Civil) Limited Liability Company (Sociedad Limitada/SL or Sociedad de Responsabilidad […]
You will have an obligation to complete this form if you are a tax resident of Spain and the accumulated value of any of the following assets that are located abroad exceed 50.000 euros. Property Owned Abroad If you have inherited, purchased or acquired a property via any other means with an acquisition value superior […]
Foreigners who are living and working in Spain must typically register and pay into the Spanish Social Security in exchange for certain Government benefits, including free medical healthcare. If you are working for an employer in Spain you must be registered with the Spanish Social Security Service, and pay contributions into the Spanish system […]
Spanish capital gains tax is complex. It is paid by tax residents of Spain on their worldwide assets and by non-residents on property that they own in Spain.
Capital Gains Tax Rates on sale or transfer of assets (except property).