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EspañolBrexit 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…
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…
Covid19: Business rental? These are your deferment possibilities
The Spanish government offers entrepreneurs the opportunity to defer payment of business rentals in case business activity has been shut down by the government as a result of the state of emergency (such as catering or retail) or if, in case of continuing business activity, turnover has fallen by at least 75% compared to the same period last year. …
Deferment tax payments from April to May for small businesses
Spain has confirmed the expected decision on tax deferral. For companies with a turnover of up to 600,000 euros. Have you already presented your tax returns? No problem, the Spanish tax authorities will automatically collect taxes on May 20. New direct debit date: May 20 Companies and autónomos with a turnover of…
COVID19 crisis: deferment social security contributions
In order to ensure that the liquidity of Spanish companies would not be put under further strain during the emergency, the Spanish authorities have made it possible to defer the payment of social security contributions. With immediate effect, all companies, regardless of size or sector, can request a deferral of…
New economic emergency measures COVID-19
On Tuesday 17/03/20, the Spanish Government announced the following emergency economic measures to help businesses and workers during this difficult period: Temporary lay-offs and short-time working (ERTE) Force majeure: companies that have to suspend employment contracts or reduce working hours during the state of emergency as a direct consequence of…
Spanish government announces first corona measures
First urgent measures only for SMEs In connection with the coronavirus emergency, the Spanish authorities have imposed the following tax and social security measures. Please note: more measures are expected to be added in the coming days and weeks. Deferral of SME taxes Tax payments for which tax returns must…
Sponsor sports talent and save up to 90% corporation tax
Companies in Spain that sponsor sports talent can save up to 90% of the sponsor amount on their corporation tax! Interesting for both brand awareness and finances, but only suitable for companies with large budgets. We explain how it works and for those interested, we’ll introduce a talent. Imagine: your…
Thanks to ‘big data’ tax fraud discovered in 45 minutes
45 minutes. That is the time the Spanish tax office Hacienda needs to detect tax fraud in the case of big fortunes thanks to the use of big data. From now on it will be a lot harder for Spanish business people, bankers, politicians, athletes and artists to stay under…