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. 

Inbound tourist spending in Spain sets new record of 6.57 billion euros between January and February, up 8%

Total tourist spending by inbound tourists in Spain between January and February amounted to 6.57 billion euros, an increase of 8% and the best result for this period since records began to be kept by the Tourist Expenditure Survey (EGATUR) drawn up by the General Sub-directorate of Tourism Information and Studies of the Ministry for Industry, Energy and Tourism.

If you perceive pensions from abroad you can tidy up your tax situation without penalties only until June 30

The law provides that resident in Spain must declare all their income in this country irrespective of their source, without prejudice to the various international treaties could establish. Many residents who receive income from their countries of origin, or others, think it is enough to be paying taxes at source and not take into account the fact that not to fill up the income tax in the country where they live or not including all the worldwide incomes may cause them penalties, surcharges and default interest.

Fátima Báñez thanks European Commission for proposed increase in pre-financing of Youth Guarantee and asks for it to be approved as soon as possible

The Minister for Employment and Social Security, Fátima Báñez, attended a meeting with the European Commissioner for Employment, Social Affairs, Skills and Labour Mobility, Marianne Thyssen, whom she thanked for her proposal to have the pre-financing of the Youth Employment Initiative - the main financial instrument for implementation of the Youth Guarantee - raised from 1.5% to 30% in 2015.

Productive foreign investment grows by 9.8% to over 17.6 billion euros

Foreign productive investment, which excludes Entities Holding Foreign Securities (Spanish acronym: ETVE), amounted to 17.63 billion euros in 2014, 9.8% more than in 2013 (16.05 billion), according to data from the Foreign Investment Register of the Ministry of Economic Affairs and Competition.

This figure is the fifth best since the year 2000 and has been posted in the context of a global investment slump, in which investment slowed by 8%, and a sharper investment slowdown in developed countries (-13.9%), according to the latest data from UNCTAD (United Nations Conference on Trade and Development).

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.

Regardless of whether or not the real-estate property is leased out, income from said property shall be subject to IRNR. However, the tax treatment varies depending on whether or not the property is leased.
 

Average affiliation rises by 96,909 in February, the best figure in many years

It seems that economic indicators confirm a certain revival of the Spanish economy, as both the unemployment rate and the number of workers covered by social security offer reasons for hope.

The average number of people affiliated to the Spanish Social Security system in February stood at 16,672,220. This figure represents a monthly increase of 96,909 (0.58%). This was the best February since 2007, with affiliation rising in all autonomous regions, and an increase in practically all sectors, particularly industry and construction. The seasonally-adjusted figure supports this positive trend in affiliation to the Social Security system.

Recorded unemployment fell by 13,538 in February, the largest fall in 14 years

The number of unemployed registered with the Public Employment Services in Spain fell by 13,538 in February 2015, putting the total figure at 4,512,153. This is the best figure for unemployment in a month of February since 2001. In the last 7 years, recorded unemployment in February has increased on average by 90,000 people.