STREET MARKET: AN ALTERNATIVE TO BECOME SELF-EMPLOYED

 

Markets , stalls, stands ... who has not ever gone to the weekly appointment that many towns and municipalities held for decades? Whether markets in weekly markets or in the streets, this activity is an important commercial and tourist boost for many regions and, with the advent of the crisis, has experienced tremendous growth in recent years. According to The Economist, in Spain there are between 3500 and 5000 markets that generate 50,000 direct jobs and 60,000 indirect jobs. So the street vending has become in recent years one of the new alternatives of self-employment for many unemployed or for those looking to supplement their income with other activities.

"We are all in favour of growth and job creation in Europe", says Rajoy

 

The President of the Government and the President of the French Republic analysed, in Paris, how to increase economic growth in Europe in order to help generate well-being and wealth. ​Mariano Rajoy and François Hollande met within the framework of the 24th France-Spain Summit, where among other issues, they tackled the energy interconnections between the two countries, the economic situation in Europe and collaboration in the fight against terrorism and organised crime.

Special Agreement with he Social Security Office.

 

 

It is an agreement signed voluntarily by the workers with the Treasury General of the Social Security with the aim of generating, maintaining or extending, in certain situations, the entitlement to Social Security benefits, and with the obligation to pay the corresponding contribution payment to their exclusive account.

Non Resident Tax

A person who is non fiscal resident in Spain and is getting any kind of income in this country during the year has to be declaring and paying taxes for the incomes received. The most common case is a Non Resident person who owns a holiday house or property in Spain.

Simplified invoices, forget about tickets

Although the new concept of simplified invoice, has nearly 2 years (since January 2013, which took effect), there are still questions about what they are and when to use them.

What is it? Current law sets aside the figure of the old tickets and invoices simplified situate them halfway between the bills we already know and the tickets, the content on simplified invoices is wider than the tickets but lower than the ordinary invoices.

Government of Spain commits to shopping tourism with a specific plan for 2015

 

 

The Government of Spain has presented its '2015 Shopping Tourism Plan'. This is the first time that such a document has been jointly drafted by the Ministries of Industry, Energy and Tourism; Economic Affairs and Competition; the Treasury and Public Administration Services; and Foreign Affairs and Cooperation. Additional support was provided by the regional governments and the private sector.

Pro-forma invoice - What is a pro-forma invoice?

 

As we have seen in previous articles in our blog there are different documents that can appear in a commercial relationship, documents such as budgets, delivery notes, invoices ... today we will talk about the Pro-forma Invoice which is a document that is sent to a buyer in certain circumstances - usually before all of the invoice details are known.

1,566,953 foreign citizens registered with Spanish Social Security system in October

 

The number of foreign citizens registered with the Spanish Social Security System stood at 1,566,953 in October, a decline of 0.97% on the previous month.

​The highest figures for foreign workers correspond to Romania, Morocco, China and Ecuador, with 270,985, 183,058, 91,554 and 73,280, respectively.

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.

Making a will in Spain will protect the rights of the family members and heirs and gets easier the way to claim an inheritance in Spain by reducing costs and paperwork, by a citizen of another country. In fact, the process is much more complex and expensive if there is no Spanish Will produced, because claiming an intestate inheritance in Spain or one produced in the country of origin with respect to the property in Spain requires a large amount of time, money and documents that will be affecting directly the heirs.

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.

Year-on-year rate of inflation rises by 0.1 points in October to -0.1%

 

According to the figures published by the Spanish National Statistics Institute (Spanish acronym: INE), the Consumer Price Index (CPI) fell by 0.1% year-on-year in October - in line with the preliminary data announced at the end of October. This figure is 0.1 points higher than the figure posted in September, a trend that can be explained by the increasing cost of non-prepared foodstuffs.

VP Advisers - Solicitors and Tax Specialists

 

VP Advisers has been helping people in Orihuela Costa since 2009. It was created by leading lawyers and economists in order to provide accounting advisory services, tax and labour advice to local home-owners and residents, the self-employed and businesses of all sizes.

Why now is the best moment to become Self-Employed (Autonomo)?

 

At this moment you can take advantage on the benefits applied on the taxation, social security and public helps available to establish your own business as self-employed because now  is cheaper and more convenient than ever.

 

Reduced Social Security fees

 

If you are under 30 years, during the first 6 months of activity the fee is around 50 € , a reduction of 80 % over the normal fee . In the next 6 months , the reduction is 50% and in the 18 months following a reduction of 30 %. 

Will your company be obliged to use electronic invoices from January?

 

Not long now for the entry into force of the obligation to issue electronic invoices for certain companies, following the publication of the "Law on promotion of electronic billing." With the entry into force of Law 25/2013, from next January 15, 2015, the companies that supply goods or services to the public authorities are obliged to submit their invoices electronically. 

Increased price competitiveness in third quarter of the year

The foreign trade competitiveness of the Spanish economy in the third quarter of 2014, taking the Consumer Price Indices as a reference, increased vis-à-vis the EU due to lower Spanish inflation compared with the average rate of inflation in the other EU countries and the depreciation of the Euro against the currencies of those countries.

VP Advisers & Lawyers will make it easy

VP Advisers & Lawyers provide you with a firm of lawyers and economists made ​​up of qualified people with an unwavering commitment to quality service that will help you build the road to your business objectives.

Do I lose my unemployment benefits if I set up a business?

 

The difficulty in finding a job makes many people try to start their own business, but is it the right time if you are collecting unemployment benefits?

May an association perform an economic activity?

 

As a general rule associations are groups of individuals (a minimum of 3 people) that are created for social purposes. Promoters and members share a certain goal (civic, cultural, sports, etc.) and are feed economically by fees paid by members and also they can get grants for promoting their purposes. Under these premises can the associations run economic activities?

Is it good that the state subsidizes private business?

Sometimes governments provide public aid to set up businesses in the form of grants for first settlement, international business expansion or even reducing the costs of social security and offering tax rebates

54 countries and territories agree to automatic exchange of tax information as from 2017

 

A total of 50 countries and jurisdictions around the world signed a multilateral agreement between the competent authorities on the automatic exchange of financial account information. Of those, 48 countries and territories will exchange this information as from 2017 and the other two will do so as from 2018. Another six more countries have committed to the agreement for 2017 (although they have not signed). In total, 54 countries and territories will exchange information in an automatic and standardised fashion as from 2017.

Why to increase the share capital of a corporation?

Many enterprises are established with the required minimum capital (3000 Euros in the case of a limited company and 60,000 in an S.A company) and with the passage of time this is becoming smaller capital in the balance sheet of a large company. Companies with profits accumulate reserves, ignoring the capital; until one day someone puts their eyes in and decides it's time to accompany the growth of the company.

1,582,335 foreign citizens registered with Spanish Social Security system in September

 

The number of foreign citizens registered with the Spanish Social Security System stood at 1,582,335 in September. In overall terms, this figure remains the same as for August, with a minor decline of 488 people, or 0.03%.

Recover the VAT paid outside of Spain

 

 

We must first make a distinction with regard to purchases that are made outside our borders. If these are done to a country of the European Union and imply that consumption of the good or service is made ​​within our borders, we must fill up our registration as intra-Community VAT operators. By filling up the registration with the tax authorities we will get an European VAT number which will be used as a common reference in dealings with the customs authorities throughout the Community. If we have the European VAT registration number purchases from other country of the European Union shall bear no VAT on your bill, while if we do not have it the seller will apply the VAT tax of its country and this cannot be deducted as such and must be accounted as a greater amount of the purchase.

Record 195,200 fall in unemployment and creation of 151,000 jobs produces highest third-quarter rise in seven years

   

According to estimates in the Labour Force Survey (EPA) drafted by the National Statistics Institute (INE), employment rose by 151,000 in the third quarter of 2014 when compared with the previous quarter, an increase of 0.9%. This increase is significantly higher than that recorded in the same quarter of 2013 (69,400) and represents the highest third-quarter increase since 2007.

Self-employed may hire workers maintaining the reduced self-employment quota of 50 €.

 

Self-employed and entrepreneurs are the forefront of the economic and employment recovery in our country and one of the most important measures introduced by the government to stimulate the creation of self-employment was to let new self-employed people (“autonómos) to pay reduced monthly self-employment fees .

Government confirms that economic growth will continue in 2015

 

The Spanish Prime Minister, Mariano Rajoy, the High Commissioner for Marca España, Carlos Espinosa de los Monteros, and the  Deputy Governor of the Bank of Spain, Fernando Restoy, confirmed that the good forecasts for the Spanish economy are set to continue in 2015, during the summit dedicated to Spain held by the British newspaper The Financial Times.

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.

Spanish goods exports grow by 0.9% to August

 

The growth in Spanish exports in January-August 2014 contrasts with the declines seen in France (-2%) and the United Kingdom (-15.6%) but is lower than the growth seen in Germany (+2.8%). Outside the European Union, US exports were up by 3.3% while Japan posted growth of 2.8%.

Meanwhile, imports amounted to 173.67 billion euros, up by 5.8% on the same period of 2013 and boosted by increased domestic demand. In real terms, imports grew by 8.3% due to the downward trend in prices measured using UVIs (2.3%).

VP Advisers & Lawyers

VP Advisers & Lawyers provide you with a firm of lawyers and economists made ​​up of qualified people with an unwavering commitment to quality service that will help you build the road to your business objectives.

Our staff provides legal advice, fiscal and financial support to national and international companies providing services in negotiation, contracting, consulting and transactions of all kinds, at all times adapting to the demands of a globalized world where the legal issues are always rigged complex solutions.

Spain will head 2015 EU growth

 

There seems to be good news on economic matters for Spain, at least as far as forecasting is concerned. Spain, a country with a 25% unemployment rate, public debt levels of nearly 100% of GDP and no alternative to construction as an engine of growth, has managed to become the only European economy with improved prospects for 2015, according to the International Monetary Fund (IMF).

Are the utility bills deductible if you work from home?

 

One of the most common questions asked by our clients, self employed people or limited companies, who work from home is if it is possible to deduce through  the accounting activity costs such as electricity, water bill ... While we have already discussed this in the past, today we bring other solutions following recent consultations with the administration .

Best September job figures in last eight years

 

Unemployment is one of the major economic problems of Spain, the high number of unemployed is one of the main reasons so many economic and fiscal reforms occurring in our country in recent years. Looking at the data of September we have cause for hope though much have to work to solve such a  big problem.

Government delivers Public accounts for 2015

 

 

The Minister for the Treasury and Public Administration Services, Cristóbal Montoro, delivered the Draft General State Budget Law 2015 to the Speaker of the Lower House of Parliament, Jesús Posada, on Tuesday; accounts that seek to boost job creation, the growth of the Spanish economy and social cohesion without foregoing compliance with the fiscal consolidation commitments.

CONVEYANCING: NON RESIDENT SELLING A PROPERTY IN SPAIN

At this moment, many people are thinking in Selling their property in Spain and coming back to their country or to face the purchase of another holiday home. Today we are knowing more about the process and costs involved in the selling of a house.

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. 

A Tax Reform On The Way

 

The minister for the Treasure and Public Administration Services, Cristóbal Montoro, highlighted that the tax reform will help boost economic growth and job creation, thanks to the 9 billion euros that will be made available to taxpayers as of January 2005.

​

Unemployment Benefits for Self-employed People

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 benefits. Finally established and a 3 years after its adoption continues to generate some questions that we will try to solve.

CONVEYANCING: TAX RESIDENT IN SPAIN SELLING A PROPERTY

 

 

A few weeks ago we wrote about the process for a Non Resident tax payer of selling the property owned in Spain, and today we will be checking a few important points to take into account in case of a resident in Spain  selling a property.

 

First of all, it is needed to know (in a similar way as it was happening for the Non Resident case) if there was any gain or  loss.  And for doing this we need to compare the updated acquisition price with the selling price.

Exports grew by 1.6% to July

   

 

In the first seven months of 2014, Spanish exports of goods grew by 1.6% year-on-year to 140.85 billion euros, the highest figure since records began in 1971. In real terms, growth was even higher, at 2.3%, since export prices measured by Unit Value Indices (UVIs) fell by 0.6%.

​The good performance of Spanish exports in January-July 2014 contrasts with the decline seen in France (-1.7%) and the United Kingdom (-15.1%). In these seven months, our growth outperformed that of the Eurozone (+0.9%) and the European Union as a whole (+0.2%), although it was lower than Germany's growth (+3.3%). Outside the EU, United States exports grew by 3.2% while Japan's exports were up by 3.3%.

Crisis sees rise in number of youngsters out of work and not studying

One in every four young Spaniards is a “nini” – a nickname in Spanish for someone who is neither working nor studying (ni trabaja, ni estudia). According to a new education report from the Organisation for Economic Co-operation and Development (OECD), Spain has the highest number of ninis aged between 15 and 29. The level is also five points higher than the OECD average, on a par with Chile, Ireland, Turkey, Italy and Mexico. The number of university graduates in the country out of work, or who are no longer studying, has risen 10 points in four years, to 23 percent, according to the OECD’s Education at a Glance 2014 report.

Why now is the best moment to become Self-Employed (Autonomo)?

At this moment you can take advantage on the benefits applied on the taxation, social security and public helps available to establish your own business as self-employed because now  is cheaper and more convenient than ever.

 

Reduced Social Security fees

 

If you are under 30 years, during the first 6 months of activity the fee is 53,07 € , a reduction of 80 % over the normal fee . In the next 6 months , the reduction is 50% (131,36 Euros) and in the 18 months following a reduction of 30 % (183,55 Euros)

Do not throw the bill for textbooks and school suplies without looking if they are deductible in your Income Tax

Summer is over and children are back to school, like every year parents have to face the high costs of textbooks and school supplies. These costs are higher each year and many families buy books to other families that used them in previous years but this is not always possible. In the case of buying new books do not throw the bill because in some regions, such as Madrid and Valencia, have established tax deductions on income that allow parents to deduct part of the investment in textbooks, school uniforms and school supplies.

Government approves measures to foster viability of companies

 

The government will make it easier for companies in financial difficulties to carry on with their activities if the business is still viable. The Council of Ministers approved a Royal Decree-Law on urgent insolvency measures, which seeks to facilitate agreements that allow companies entering into insolvency proceedings to remain trading.

Government approves measures to boost employment

 

The government's commitment is to incorporate the most vulnerable groups into the labour market: the long-term unemployed, the over 55s and the less-qualified young people. The Council of Ministers approved the Spanish Strategy to Boost Employment 2014-2016; the Annual Employment Policy Plan 2014, and the distribution of more than 1.2 billion euros to the regional governments for active employment policies. Moreover, it presented reports on the future portfolio of common services of the National Employment System and on the reform of the Employment Training System.

When can we destroy documents?

 

One of the most frequent questions that freelancers and business owners ask is for how long they must keep documents such as invoices, when do we have to discard them? As you know the tax authorities, as a general term, has 4 years to review the taxes so is that period of time enough to discard the documents? Below we will explain how it is not as simple computation time in the preservation of archives.

Get a proper invoice and avoid further problems

 

In previous articles we have discussed about the requirements for invoices to be considered acceptable by the tax authorities. While it is normal for most companies to produce the invoices properly, many elude a prerequisite, the description of the billed transactions. If this happens may occur that the tax authorities rejects you to deduct the paid VAT if the description is generic, inaccurate or incomplete, so do not hesitate when it comes to claiming your provider everything you need to be sure you get a correct invoice.