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Tax

Family business and wealth tax: how to face the year end

Family businesses take advantage of certain tax breaks in regards to Wealth Tax (“WT”) and Inheritance and Donations Tax (“IDT”) in order to ease the transfer to future generations as well as its existence throughout time. Such tax breaks in ...
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Taxation upon contributing mortgaged property to a company

Several appeals ref. (3205/2017, 6263/2017 y 5194/2017) have been ruled recently by the Supreme court in relation to how must a contribution of mortgaged properties to a Spanish company be taxed when the latter takes over the mortgagor’s obligations. The ...
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Tax residency in Spain during lockdown

In a recent tax binding consultation ref. V1983-20, the question is raised on whether a forced stay in Spain due to lockdown will count to qualify as a Spanish tax resident. The case in hand relates to a Lebanese couple ...
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Household goods’ taxation upon demise

Upon the demise of a person in Spain, our Inheritance law deems as part of the estate all household goods. It is presumed by law that the value given to such goods is 3% of the estate’s value, unless the ...
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Main aspects to be considered by companies amid COVID-19

The outbreak of the new coronavirus, responsible for COVD-19, has put under huge pressure many companies across Spain and the world. In order to mitigate the effects of such virus, the Spanish government has implemented several measures of which we ...
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Exit tax upon loss of Spanish tax residency

If you are a Spanish tax resident and are thinking about changing your tax residency to a different country, you might have a tax liability for unrealised capital gains. Binding consultation ref. V2959-19 explains the tax consequence for an individual ...
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