NEWS

March 17, 2021

Donation tax Statute of limitations on bank transfers

Ruling from the Supreme Court dated 30 November 2020 determines when does the statute of limitations start running for donation tax on a given donation made through a bank transfer and such only being disclosed on the relevant bank statement. ...

March 2, 2021

A single joint director can call a general meeting with the purpose to amend the directorship structure

The General Directorate for Legal Security and Public Faith has issued on 12 November and 22 October 2020 two similar resolutions by which they approve that a Shareholder’s General Meeting can be called by only one of the two joint ...

February 23, 2021

Tax implications when using your parents’ bank accounts

A ruling from the Supreme Court of Justice of the Balearic Islands dated as of 4 May 2020 rules on the implications of children using parents’ bank accounts as an authorised party. Both the tax inspection body and the first ...

December 2, 2020

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 ...

September 24, 2020

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 ...

August 3, 2020

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 ...

July 2, 2020

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 ...

March 27, 2020

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 ...

February 27, 2020

Wealth tax for non-residents who indirectly own assets in Spain

Spanish Wealth Tax (WT) taxes individuals’ net worth, i.e. assets directly owned by them minus charges and encumbrances which might diminish its value. Non-tax-residents in Spain are only taxed with WT on assets held in Spain. In this case (binding ...

January 28, 2020

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 ...

Donation tax Statute of limitations on bank transfers

A single joint director can call a general meeting with the purpose to amend the directorship structure

Tax implications when using your parents’ bank accounts

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

Taxation upon contributing mortgaged property to a company

Tax residency in Spain during lockdown

Household goods’ taxation upon demise

Main aspects to be considered by companies amid COVID-19

Wealth tax for non-residents who indirectly own assets in Spain

Exit tax upon loss of Spanish tax residency

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