2012 Resident Tax

From April 24th you can submit your 2012 resident Tax. VP Advisers offers you the confection of your 2012 Income Tax for only 30 Euros per form, a very special offer that you can’t refuse.

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Treasury’s borrowing costs fall to levels of 2010

 

The Spanish Treasury comfortably beat its issue target at Thursday’s bond tender as its borrowing costs fell to their lowest levels since 2010 amid ample global liquidity.

The debt-management arm of the Economy Ministry sold 4.7 billion euros in three- five- and 10-year bonds when it had set itself a goal of 4.5 billion. Bids amounted to 2.6 times the amount sold.

Spanish companies are among the most indebted in Europe, IMF says

 

 

The IMF on Wednesday concluded that the high level of debt of listed companies in Europe, particularly in peripheral euro-zone nations such as Spain and Portugal pose an obstacle to economic recovery.

In its Global Financial Stability Assessment report released Wednesday, the agency estimated that the “debt overhang” of peripheral countries is as high as one-fifth of total debt pending payment, requiring “continued vigilance by supervisors on bank asset quality.” The Spanish government has set up a bad bank to absorb the toxic real estate assets of the country’s banks.

Spanish banks repossessed 30,000 family homes in 2012

Rising mortgage foreclosures and the eviction of families from their homes has become a burning social and political issue in Spain of late. But the debate on how to address the problem has been clouded by a lack of accurate figures. In order to remedy this, the College of Property Registrars has carried out a study.

According to the report, which the college released on Thursday, the number of first homes taken over by banks in 2012 because of non-payment of home loans amounted to 30,034, or 115 a day. The study received responses from 934 registrars’ offices throughout Spain, about 85 percent of the total.

Spain and United Kingdom sign new treaty to avoid double taxation between the two countries Monday 25 March 2013

When it comes into effect (within three months of its ratification), this treaty will replace the agreement signed in London on 21 October 1975 between Spain and the United Kingdom of Great Britain and Northern Ireland, to avoid double taxation and prevent personal income and wealth tax evasion. ("Official State Gazette" of 18 November 1976).

The new treaty updates the text of the former document, which had become out-of-date in certain regards due to the considerable period of time that has elapsed since it first came into effect.

Jobless claims fall in March on Easter holiday hiring

 

Hiring in the hostelry business and other service sectors to cover increased activity during last week’s Easter holiday period helped provide some welcome relief to Spain’s sclerotic labor market in March.

According to figures released Tuesday by the Labor Ministry, the number of people officially registered as out of work with employment offices declined by 4,979, or 0.1 percent, to 5.035 million after a record high of 5.04 million in February. In March of last year, jobless claims climbed by 38,769. On a seasonally-adjusted basis, jobless claims last month fell by 6,212 to 4.857 million.

Are you fiscal resident in Spain?

The way in which individuals and bodies corporate pay tax in Spain varies depending on whether or not they are residents of Spain.

1. INDIVIDUALS

Individuals shall be deemed to have their principal residence in Spain if they meet any of the following conditions:

• They spend more than 183 days per calendar year in Spain. Occasional absences shall be taken into account to calculate the period of residence, except when said individuals prove they have their tax residence in another country. In the case of countries or territories classified as tax havens, the Spanish tax authorities may request proof of residence in the tax haven for 183 days per calendar year.