SPAIN SETS A NEW RECORD OF TOURISTS TO OCTOBER THIS YEAR

Spain has set another all-time record in October, after receiving 5,475,000 inbound tourists, representing a 6.9% year-on-year increase, according to the FRONTUR survey, drafted by the General Sub-directorate of Tourism Information and Studies of the Ministry of Industry, Energy and Tourism.

FAMILY BENEFITS (II): ECONOMIC BENEFIT FOR MULTIPLE BIRTHS OR ADOPTION

Family benefits are provided to cover the financial needs or extra expenses of certain people, caused by family responsibilities and the birth or adoption of children in certain cases.

WHEN CAN BE USED DIFFERENT SERIAL NUMBERS FOR INVOICES

Today we will discuss about an issue that sometimes could cause some confussion to the companies or self-employed professionals. We are talking about the use of different invoice serial numbers.

FAMILY BENEFITS (I): ECONOMIC BENEFIT FOR DEPENDENT CHILD OR MINOR IN FOSTER CARE

The application for family benefits is one of the issues on which our customers are more interested and because of the deep crisis that plagues us the number of families who use them have been increased in the past months, so in order to give answer to the big demand of information today we begin a series of articles with the purpose of informing you about the following family benefits and the necessary requirements to get them:

What is the Single Euro Payments Area?

Today we discuss about a big change at European level that affects the banking and commercial transactions throughout the European Economic Area.  This is the SEPA (Single Euro Payments Area ).

Announcement of extension of permanent entrepreneur support contract to part-time workers

In light of certain positive data released recently, the President of the Government highlighted the risk of thinking that "we have entered a period of smooth sailing and that we need only let the economy run its course, on its own, to lead us out of the crisis". He stressed that "we certainly shouldn't relax or rest on our laurels. I insist, we cannot allow ourselves a single moment of relaxation or relief".

LIMITED LIABILITY COMPANY BECAUSE SUCCESSIVE FORMATION (Sociedad Limitada Formación Sucesiva)

Today we are discussing about a new company form that has been incorporated by the recent entrepreneurs law.It is called Limited Liability Company because Successive Formation ( Sociedad Limitada de Formación Sucesiva –SLFS-).

Basically is similar to a normal Limited Liability Company (SL) , but the main difference about this new one is that the founders partners are not obliged to make an initial investment for the capital stock, so it may be contributed gradually. But to be applying this way, it must meet a number of specific obligations to ensure the protection of third parties in their financial, trade and labor .

THINKING ABOUT MOVING TO ANOTHER COUNTRY?

 

In a previous article we explained the necessary requirements to become fiscal resident in Spain and the most significant was living in Spain for more than 183 days in a year, but what happens if you want to comeback to your country or going to a different country than Spain for living?  

WHY IS IMPORTANT TO PRODUCE A SPANISH WILL

We should know about how important is having a will in Spain in case of people national of other countries when they have property in Spain as it can be a house, and being or not residents in Spain.

UNEMPLOYMENT BENEFITS FOR SELF-EMPLOYED

Since August 2010, self-employed people (known in Spain as “autonomos”) can perceive unemployment benefits. The protection system gives access to unemployment benefits for a maximum period of 12 months and 70% of the base. Law 32/2010, of August 5, did justice to one of the oldest demands for self-employed : to collect unemployment. Finally established and a couple of years after its adoption continues to generate some questions that we will try to solve.

HIRING WORKERS? DO NOT FORGET ABOUT THE HEALTH AND SAFETY AT WORK

Today we will talk about the obligation to carry out the Health and Safety at Work prevention (HSW) by the self-employed or companies. The Law 31/1995 states among other things that as entrepreneurs, exist the obligations to:

• Take the necessary measures for the protection of workers
• Inform and train workers regarding the HSW.
• To act facing an emergency situation and facing serious and imminent risk .
• Monitoring the health of their workers.
• Establish an organization and tools for prevention.

In case of small businesses or self-employed, the law sets some limits to the obligation, or not, to take personally the HWS or otherwise refer to a prevention service.

REDUCED SELF-EMPLOYED FEES FOR PEOPLE YOUNGER THAN 30

Last February came into force The Royal Decree -Law 4/2013 of measures to support entrepreneurship and to stimulate growth and job creation. The new law estates an important measure to stimulate young  people to run their own business, a € 50 flat rate for young entrepreneurs starting their professional activity , which can now be accessed if the following requirements are met:

SPAIN'S GREAT WAGE FREEZE REACHES COLLECTIVE BARGAINING ACCORDS

Even collective bargaining agreements reflect the process of the loss of purchasing power through salary devaluation that Spanish workers have been suffering from two years now: a growing number of them accept that wages are not going to rise, and in some cases that they will even fall.

DEDUCTION FOR INVESTMENTS IN START UPS OR RECENTLY CREATED COMPANIES

The recent Law to support the entrepreneurs added a new tax credit for investments in start -ups and it is interesting to know in case you are considering about taking actions in this way.

This deduction is applicable only in the full state fee (cuota íntegra estatal) and corresponds to the 20% of the amounts paid for the acquisition of shares in start -ups or meeting the requirements.

ENTERPRENEURS LAW: REDUCED SELF-EMPLOYED FEES FOR PEOPLE OLDER THAN 30

As previously announced by the government, social security reductions that were applied earlier this year for those under 30 years , have been extended to all groups of entrepreneurs , regardless of their ages .

Law 14/2013 , to support entrepreneurs and their internationalization estates that "The self-employed with 30 or more years of age that register their actvities by the very first time or who have not been self-employed in the last five years may apply the following reductions on the self-employed fees, for a maximum period of 18 months , according to the following scale: "

THE LIMITED LIABILITY ENTERPRENEUR

One of the main advantages of using a limited company with respect to carry on the business compared with doing it as a self-employed person is that the personal assets of directors and partners are protected against any corporate debt. The recent Entrepreneur Law creates limited liability through which individuals may avoid liability for business debts concerning their main house under certain conditions.

A FURTHER 21 BILLION EUROS IN DOUBTFUL LOANS SURFACED

Spanish banks have increased the amount of refinanced and restructured loans considered to be doubtful by 29% to 92.224 billion euros in the wake of tighter classification criteria imposed by the central bank.

According to the supervisor’s latest Financial Stability Report released Wednesday, banks now categorize only a quarter of the loans they have renegotiated with borrowers to be up to date on servicing, compared with 42% prior to the introduction of the new criteria introduced at the start of this year.

Free Business Registration.

Our office is a PAE, the only business office in Orihuela Costa registered at the Industry, Tourism and Commerce Ministery as PAE in order to offer FREE BUSINESS REGISTRATION (Free Self Employment Registration and Companies Formation) to all the persons that are looking for a new business life. 

NEW IVA CASH BASIS SYSTEM

Starting on the 1^st of January 2014, the Law 14/2013 introduced as a new option, the Cash based system for the IVA tax.

This is a way for the companies and professionals attached to this tax declarations working in a new way that allows not declaring the Incomes IVA until the moment is received the payment from the client. In the same way, the Expenses IVA amounts of those outstanding invoices from suppliers cannot be claimed until the invoices are paid. 

TAX FINES AND SANCTIONS ON TAX FORMS OBLIGATIONS (II)

On this new article we will see about other different tax fines and sanctions that can affect to people or corporations.

HOUSEHOLD DEBT DROPS TO LOWEST LEVEL SINCE 2007

Household debt in Spain fell to its lowest level in over six years in September as families continue to deleverage, the Bank of Spain said Monday.

The central bank said the liabilities of families declined 0.5 percent, or by 4.287 billion euros, from August to 798.045 billion, the lowest level since February 2007. Compared with a year earlier the magnitude of the decline was 4.5 percent. Household indebtedness has now declined for three months in a row after a pick-up in June as families took on more consumer loans.

LIMITED COMPANIES THAT ARE INACTIVE FOR MORE THAN 1 YEAR SHOULD BE DISSOLVED

In a previous article we discussed the obligations of a dormant company, now we will see the possible consequences of a company left dormant for a long period of time.

Leaving a company sleeping without dissolution is a situation in which there are numerous entities. However, sometimes we overlook that in the case of limited companies, being inactive for a period exceeding one year is a legal cause of dissolution.