Overseas investment in Spanish debt suffers biggest fall in 16 years

As fears about the euro subsided, the improvement in foreign investor confidence in Spain toward the end of last year was not enough to offset a massive sell-off of government debt capital in the first nine months of 2012.

According to figures released Monday by the Treasury, public debt in the hands of overseas investors at the end of 2012 was down 56.8 billion euros from a year earlier at 224.662 billion, the biggest fall in 16 years.

Why register a trademark?

A registered trademark gives the exclusive use of that name, providing its owner the capability:

• -To create "Trademark Value" (Goodwill), an active intangible for the company
• -To offer licenses and franchises
• -To be differentiated from competitors
• -To be protected from third parties using an equal or similar name, exercising the legal actions that correspond
• -To protect the Internet domain name
• -To impede others attempting to register similar trademarks
• -To have priority over third parties wanting to register their trademarks, in countries which do not require registration

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Cabinet aproves legislation that removes regional barriers to trade

 

The Cabinet on Friday approved a draft bill creating a single market that will allow companies and professionals in Spain to offer their goods and services across the country.

Under the proposed legislation, it will be sufficient for a company that has obtained a license from one of the regional governments to sell goods that comply with technical specifications to do so in the rest of the country.

Unemployment hits yet new record high at the end of 2012

Unemployment in Spain reached record highs in the last quarter of 2012 as the recession deepened due to the government’s austerity drive to trim the public deficit.

According to the Active Population Survey (EPA) for the fourth quarter, released Thursday by the National Statistics Institute (INE), the number of people out of work fell just short of six million at 5.965 million as the jobless rate rose from 25.02 percent to 26.02 percent, both records for the current historical series, which dates back to 1976.

Reforms to bank laws will not cap directors’ salaries

Draft reforms to legislation covering Spain’s savings banks, which the government is in the process of finalizing, will not impose a cap on the salaries of the administrative boards.

However, according to the text of the planned law, the savings banks — known as cajas – will be obliged to send an annual corporate governance report to the markets watchdog, the CNMV, within which they must specify the amounts paid to their boards of directors, including expenses and pension plan contributions.

If the bank in question has received bailout funds, directors’ salaries will be subject to previous legislation, which set limits of 600,000 euros a year.

Figures for fuel consumption fall to lowest level since 1990s

Fuel consumption fell an "unprecedented" six percent in 2012, as prices continued to rise, the National Energy Commission (CNE) said Friday

Although the December figure is still missing, consumer behavior to November was enough for the CNE to state in a report that "fuel consumption will register the greatest annual fall in 2012 since the beginning of the crisis in 2007, consolidating at levels of the 1990s.

The industry watchdog noted that despite dwindling demand, fuel prices continued to rise. The CNE said this increase cannot be solely explained by higher raw material prices. To August, operators maintained "a gross distribution margin of over 20 cents a liter, the highest in recent years."

TRAFFIC ACCIDENT, DO YOU KNOW YOUR RIGHTS?

After receiving many enquiries about it, we have decided to inform you about the medical and legal aspects to bear in mind when you have been involved in a traffic accident when you have been injured by another drivers fault. 

Due to the law, you have to right to:

BYE TICKETS, HELLO SIMPLIFIED INVOICE!

 

From January 1st the RD 1619/2012 law, establishes a new law for the invoices with an important change: tickets can not be produced by a professional or a company invoicing a client for a service. The tickets were being used in a massive way in some activities like bars, restaurants, bistros, motorways, etc. for justifying the selling of a service or product. From now on these are replaced by the simplified invoice (factura simplificada). 
 

When a deal is 400 euros or lower, or when an amended invoice needs to be produced, then a simplified invoice (factura simplificada) can be the way to proceed. The limit is 3000 euros (IVA included) per invoice (factura) for the activities of bar, restaurant, disco, bistro, motorway among others. Operations above this limit require to be justified by a formal invoice including the clients fiscal details, etc.

Russian visitors break tourism and spending records

Tourism is one of the few sectors that have become a source of optimism for the Spanish economy. The number of foreign visitors to Spain increased throughout the whole of 2012, with fourth quarter figures the highest, while the average spending by these visitors has also risen.

But there is one group of foreign visitors to Spain that has broken all the tourism records: Russians.

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Are you looking to set up your own business ? Are you considering the option of being self employed as a new challenge in your life or just as an escape way for the actual labour market situation?

In VP ADVISERS we want to help you in your new stage. We are the only business office in Orihuela Costa registered at the Industry, Tourism and Commerce Ministery as PAIT in order to offer FREE BUSINESS REGISTRATION to all that persons that are looking for a new business life.

But we are not stopping there, we are also offering low quotas in accountancy, business and personal taxation, wills, conveyancing and more other services in order to help you.

If you are considering the idea of setting up a new business why do not give us a visit?

Our office is based at:

Commercial Centre La Mosca
1st floor above Supercor

Orihuela Costa

965327714

info@vpadvisers.com

www.vpadvisers.com

Household savings rate falls to record low

 

Spain’s household savings rate fell to its lowest level on record in the third quarter of last year as high unemployment and wage deflation in the latest recession obliged them to devote more of their disposable income to consumption, according to figures released Wednesday by the National Statistics Institute (INE).

 

Accountants & Tax specialists

Whatever your size or requirements, we can help.

We know that taxation problems can be a real worry. For the private individual, they can bring a great deal of stress and sleepless nights; for the family, they can put at risk wealth that has been built up perhaps over several generations; for privately-owned businesses, tax problems can even mean the difference between having a continuing business and closing down.

VP Advisers will make it easy

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Bank of Spain “looked the other way” over malpractice, says damning report

The Association of Inspectors at the Bank of Spain, which covers 80 percent of the professionals at the lender, has produced a damning report about the institution's practices, including the accusation that when evidence of wrongdoing is discovered in Spanish banks, "the usual reaction is to look the other way."

Running a business?

Outsourcing services such as management accounting, bookkeeping, payroll and VAT is increasingly popular among many businesses. Whether you’re a start-up or an long time established company, our high standard services enable you to keep your focus on growing your business.

VP Advisers will make it easy.

www.vpadvisers.com

Jobless claims decline for the first time in five months

Jobless claims in Spain fell for the first time in five months in December but that failed to camouflage what has been a dire year for the domestic labor market, with the sagging economy shedding over 2,000 jobs a day in 2012.

According to figures released Thursday by the Labor Ministry, the number of people signed up at employment offices as being out of work declined by 59,094 from November to 4.848 million.

Spain will start to create jobs at the end of 2013, says economy minister

Despite the pain inflicted on consumers as a result of the government’s austerity drive and high unemployment, Economy Minister Luis de Guindos remained reasonably upbeat on the first day of the New Year about what the future holds for Spaniards in 2013.

In an interview with Spanish radio station Cadena Ser, De Guindos said he expects the economy to be growing at a sufficient pace to start creating jobs in the last quarter of this year.