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EspañolThanks 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…
Spanish tax authorities to punish tax havens advisers
The Spanish tax authorities want to reward tax advisers who inform about violations and tax evasion with preferential treatment. For this purpose the tax authorities have presented a Code of Best Tax Practices to associations for tax advisers. The endorsement of the code is voluntary. Tax authorities are introducing a…
Focus Spanish Tax Authorities
The Spanish tax authorities will pay extra attention this year to tax returns inspections in the case of large assets, financial technologies, online sales and crypto currency, according to the Tax Inspection Plan 2019. Spanish tax authorities focus on assets, fintech, e-commerce and cryptocurrencies The definitive implementation of a new…
Watch out: Spanish tax authorities offer 95 million in bonuses
The Spanish tax authorities have again created a bonus of 95 million euros as part of the “Special Increase Inspection Plan” for 2019. – Target: 150 billion income tax and IVA The amount of money rewarded by the Spanish tax authorities is the same as in 2018, but in return…
Catalonia to collect tax on luxury goods
Catalonia is the first Spanish autonomous community to introduce a special tax on luxury goods. The anti-fraud measurement is introduced retroactively. 0.2 to 2.75% tax on luxury possessions All these assets are considered ‘non-productive assets’ and the owners must pay a tax of between 0.2 and 2.75 per cent. The…
Spanish Tax Agency controls Management Companies
The Spanish Tax Agency (AEAT) has published a report, warning against the risks of Asset Management Companies. Improper use can lead to additional income tax, corporation tax, VAT and wealth tax. The warning comes after several politicians were recently discredited because of the way they use Asset Management Ltd’s. The…
Tax Returns Spain, don’t wait, read here what to do
Do you want everything to go well? Start now and submit your data before 6 May – Download our free English brochure Tax Returns Spain: click here for ‘what to do, what to declare and what does it cost me?’ English, for free, complete and easy to read. – Key…
Spain facilitates ‘Start-Ups’
Spain goes USA Spain wants to facilitate Start-Ups for more innovation, more high-quality employment and better connection with the developments in the society. In order to align new legislation with the needs of the sector, exploratory meetings are held with representatives of business associations, digital economy, corporate investors and…
Taxes in Valencia and Catalonia the highest, in Madrid the lowest
Spain has national rates for income tax, wealth tax and inheritance and donation tax, but the ‘autonomous communities’ – Spain has 17 – can use different scales and rates. Important in tax planning Spain If an autonomous community does not consider this necessary, the national rates apply. For people with…
Madrid Tax Haven in Spain?
Madrid continues to implement tax cuts Reduction in inheritance tax Madrid Madrid plans to reduce the inheritance tax between siblings, as well as between uncles/aunts and nephews/nieces. Reductions of 15% and 10% will apply on the calculated inheritance tax. A reduction of 99% already applies for the tax on inheritances…