Every year Spain issues thousands of residence permits to foreign citizens who come here to study, work, invest or simply have holidays at their second home. Regardless of the type of authorisation, the same doubt usually arises: “having a residence permit in Spain implies becoming its tax resident?” First and foremost, it must be clear… Continua a leggere Residence permit vs. Tax residence in Spain
Categoria: Tax
Tax on Non-Productive Assets
The tax return (tax form 540) of the new tax on non-productive assets of legal entities (IANP) must be filed between October 1 and November 30 of 2019, for tax years 2017, 2018 and 2019. Starting next year 2020, form 540 must be filed from June 1 to June 30 of each year. The purpose… Continua a leggere Tax on Non-Productive Assets
Interposition of companies by private individuals
The Spanish Tax Agency, through its Annual Tax Control Plans, is paying special attention to monitoring the tax risks related to the interposition of companies by private individuals in the process of invoicing personal revenue due to the development of a professional activity. Moreover, it is also keeping track of the risks derived from holding… Continua a leggere Interposition of companies by private individuals
Exemptions for capital gain on Personal Income Tax for people over 65
If you are close to turning 65 and plan to sell your home, you would be wise to wait until you reach that age because the capital gain generated by this sale is exempt from Personal Income Tax. Note that if the home belongs to more than one owner, the exemption from capital gain only… Continua a leggere Exemptions for capital gain on Personal Income Tax for people over 65
Valuation of Real Estate by the Spanish Tax Administration.
The Spanish Tax Administration used to verify the precise value of Real Estate with the following CVC formula: it multiplied the cadastral value by a coefficient unless there was a direct visit by a member of the Tax Office in person of the Real Estate. The Regional Tax Offices used the same formula in relation… Continua a leggere Valuation of Real Estate by the Spanish Tax Administration.
Income Tax Return 2017
The deadline for the presentation of the Income Tax Return for 2017 began last April and will end on July 2, 2018, although for income with direct debit payments the deadline will finish on June 27, 2018. All individuals with tax residency in Spain who receive any type of income are required to present the… Continua a leggere Income Tax Return 2017