Playing soccer with clients or attending events outside of normal business hours is working time
Three recent judgements delve into the concept and legal interpretation of working time in Spain. The Supreme Court has declared that hours dedicated to shifts on Sundays and playing soccer with clients should be treated as working time.
The Share Purchase Agreement: Signing and Closing
The purchase agreement of corporate shares or holdings is a document that establishes conditions that will govern the transfer of the company and it applies to all forms of non-listed companies.
The new General Data Protection Regulation (GDPR)
With the new general data protection regulation (GDPR) going into effect, the authorities can act ex officio or on complaints. Companies that fail to comply with the legislation can expect considerable economic sanctions
Fees and taxes for real estate acquisitions in Spain
Acquisition of real estate in Spain can generate various fees for which, without careful preparation, the buyer can quickly find himself liable. Furthermore, the transaction can accrue taxes, which can be quite different for the buyer and the seller.
Phases of the process of acquiring a company
Investment in Spain through acquiring shareholdings in a Spanish company requires a series of steps in order to ensure the successful conclusion of the transaction. These are, in brief: the letter of intent, the due diligence process, the signing of the purchase/sale agreement, the closure of the transaction and the closing operations, or post-closing of the transaction.
The filing of annual accounts of branches of foreign companies in Spain
One of the most problematic issues facing Spanish branches of foreign companies is the filing of accounts. In Spain, the Mercantile Registry Regulations provide for the possibility of filing the accounts of the company itself, when there is the so-called ‘equivalence control’ in both countries, or by submitting ad-hoc accounts in relation to the activity of the branch in Spain.
Training Contracts: The Internship Contract
In Spain, the modality of the internship contract facilitates access to the labour market for young people. This contract falls within the scope of training contracts. It has a maximum duration of 2 years and the stipulated remuneration should comply with minimum standards.
Taxation on the transfer of branches of activity
Although the sale of assets is generally subject to Value Added Tax (IVA) and Capital Transfer and Stamp Tax (ITPyAJD), the transfer of a complete branch of activity or business in Spain has flexible taxation.
The transfer of businesses under the asset purchase agreement
After carrying out the corresponding due diligence process to analyse the accounting, fiscal and legal situation of a business, it is vital to formalize the purchase and sale through the most appropriate legal instrument according to the characteristics of the project.
Does your business correctly apply the regulation concerning working hours?
Overtime is paid twice in Spain: (1) as integral to the base cost of profesional contingencies, unemployment, FOGASA and professional training, at the rate at which each case corresponds, and (2) as a consequence of the existence of a specific additional cost.
