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EspañolCOVID19: New support measures for business
The Spanish Government has allocated EUR 7 billion for direct support to businesses. These are non-repayable grants for companies that have been hit hard by the crisis. A further EUR 4 billion has been made available to restructure so-called ICO loans (state guaranteed bank loans) and recapitalise SMEs. What must…
Stricter controls filling in the annual accounts
Recently, changes have been made to Spanish legislation which supervises compliance with the filing of annual accounts at the Registro Mercantil. The filing of the annual accounts is mandatory in Spain, but up to now, in practice, no fines have been imposed for non-compliance with this obligation. However, based on…
New Covid measures for businesses in Spain
The Spanish Government announced new measures to meet the needs of companies with financial problems. We will list the most important ones. Deferral of taxes for SMEs Payments of taxes for which declarations have to be submitted between 1 April and 30 April 2021 may, under certain conditions, be postponed…
Brexit for real: these are the tax consequences
On 31 December, the United Kingdom will leave the European Union. We would like to list the tax consequences for business operations between Spain and the United Kingdom from 1 January 2021. What will change with regard to taxation? 1. The sale or purchase of goods to or from British companies…
Funds invest 1 billion in rental market
New capital inflows accelerate BTR operations The investors’ appetite for the residential market together with the COVID19 pandemic are the main reasons for the actual boom of real estate projects for the rental market, known as ‘Build to Rent’ (BTR), a formula expected to stimulate the creation of a new…
Remote Working | New legislation
Companies that intend to continue to offer their employees the possibility of working remotely after the Covid pandemic has ended, must comply with the guidelines laid down in Law 28/2020, which recently came into force. Therefore, these obligations do not apply to companies that will return to a situation where…
Opportunities: 20% more turnover during football matches
Football match this evening? In many cases this goes together with pizza or burgers. Online meal delivery platforms such as Glovo and Deliveroo confirm that match days are also the days with extra movement in the kitchens of major US market leaders in particular. 20% more orders on match days…
The future. Working from home from Spain
Let your colleagues work from home from Spain Opportunities for dynamic companies People who work almost entirely from home seem to wonder why they shouldn’t be able to do so from Spain. We have noticed an increase in questions about this subject from various countries. Two trends that are taking…
C19 Update: Important new measures ERTE
The Spanish government will most probably announce next week additional measures for companies that apply the temporary termination of employment contracts or the reduction of working hours as a direct consequence of the COVID19 crisis (ERTE Force Majeure). Here is a summary of our expectations: Untill 30 June and flexibility The ERTE…
Spain presents gradual de-escalation plan lockdown
Spanish government has presented a de-escalation plan for the country’s lockdown for (at least) the next 8 weeks, consisting of 4 phases. The keywords of economic measures are shown in bold. Phase 0: Prior This is the stage the country is currently in. During this phase, some light relief measures will be taken: Children…