NEWS

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 ...

December 27, 2019

Claiming a plusvalia tax refund when you are not the liable taxpayer

The Supreme Court has recently decided if a person who agrees to pay a plusvalia tax upon purchasing a property, even when from a legal point of view the other party is liable of such payment, is entitled to claim ...

November 29, 2019

How are profit participating loans considered for Wealth tax purposes?

Profit participating loans (PPL) granted to companies are usually defined as a transfer of money to a company by which the lender is rewarded by variable interests rates usually depending on profits. In early anticipation events, such loan is rewarded ...

November 28, 2019

Wealth Tax in Spain for non-European tax residents

Binding tax consultation ref. V0676-19 examines a case where a Mexican tax resident owns several properties in Madrid and its possible wealth tax taxation. Any individual – non Spanish tax resident – is taxed on assets it may own in ...

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

Claiming a plusvalia tax refund when you are not the liable taxpayer

How are profit participating loans considered for Wealth tax purposes?

Wealth Tax in Spain for non-European tax residents

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