Changes in the draft on the fiscal reform in Spain

The new fiscal reform in Spain, which will gradually be implemented in 2015 and 2016, will benefit rents bellow 50.000€ and individuals with family responsibilities. Severance pay shall be taxed, the exclusion of the dividends is abolished and the deductible quality of pension plans is reduced.

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Effects of the next fiscal Reform in Spain

The Preliminary Law on Fiscal Reform in Spain is creating a much more effective business competition aimed at both self-employed workers and businesses. The Reform proposes changes to tax on companies (TC), tax on the income of individuals (TII), tax agency, and VAT regarding e-commerce.

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Tax-en-teclado

Deductions Relating to Income Tax with the New Tax Reform in Spain

The new tax reform in Spain lowers the income tax by about 12.5% and provides a deduction for taxpayers with large families, elderly family members, or disabled dependents. This means that these taxpayers will be able to deduct about 1,200 Euros per year, an amount which, depending on the case, may increase.

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International Taxation and Customs Control in Spain

Regarding International taxation and customs control in Spain, certain concepts have been highlighted such as the abusive use of internal and international regulations, the control actions, the transfer prices as well as other control measures.

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