The Spanish economy grows by an annual 3.4%, the highest rate in nearly eight years, and creates 511,600 jobs

This growth rate is the highest since the fourth quarter 2007; that is to say, a year before the recession of the Spanish economy kicked in. Job creation grew by an annual rate of 3.1%, one tenth higher than in the second quarter, and 511,600 jobs were created with compensation per employee growth of 0.3% in a context of falling prices.

Turning down the volume in Spain’s noisy bars and restaurants

It’s probably happened to you before: you go to a restaurant with a group of people, you sit down and start talking at a normal volume.

But little by little, the place fills up, you stop hearing what your friends are saying, and you end up having to scream just to make yourself heard.

Average annual Spanish salary falls to lowest level since 2007

Tax filings by Spanish companies show that the average annual salary of a worker last year was €18,420, the lowest since 2007.

Salaries withstood the economic crisis relatively strongly until 2011, but dropped significantly the following year, when the government introduced a sweeping labor reform.

The drops continued in 2013 and 2014, according to figures released on Tuesday by the Finance Ministry.

Can I recover the VAT paid abroad?

 

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.

Prices fall 0.7% in October

 

The Consumer Price Index fell by 0.7% in October year-on-year, according to figures published by the National Institute of Statistics (Spanish acronym: INE). This rate is two-tenths higher than in September and coincides with the figure advanced by the INE at the end of October. This increase in inflation can be explained by the majority of the main components of the CPI, except processed foods, the rate of inflation of which has remained constant.

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?

We must clarify that associations generally reach the

Government distributes 1.42 billion euros among regional governments for employment policies

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The Council of Minister approved the regional distribution of subsidies at an employment level for this financial year.

The Vice-President of the Government, Soraya Sáenz de Santamaría, explained that a total of 1.42 billion euros will be made available for the implementation of services and programmes of active employment policies, as well as for the modernisation of the Public Employment Services and subsidies prior to ordinary retirement through the Social Security system.

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. 

 

The team comprises expert solicitors who specialise in different areas of the law, such as civil issues, labour rights, criminal law, administrative and tax regulations. This enables VP Advisers to provides its customers with the highest quality legal advice they require and have come to expect from the team. The services of the company’s solicitors can be adapted to a wide range of client needs, particularly those purchasing or selling property.

Over 19 million tourist holidays mainly taken for cultural reasons

According to the results contained in the 2015 Yearbook of Cultural Statistics, the culture sector is the driving force behind the development of other sectors of great economic significance, such as the tourism sector. The 2015 Yearbook of Cultural Statistics contains a selection of the most important culture-related statistical results, offering information on the status quo in terms of culture in Spain, its social value and its condition as a source of wealth and economic development in Spanish society.

THE LIMITED LIABILITY OF THE 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.

Simplified invoices, forget about tickets

Although the new concept of simplified invoice is not (it came into force in 2013), 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.

ARE YOU RESIDENT IN SPAIN FOR TAX PURPOSES?

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.

Cash revenue from contributions to Social Security system exceed 74.18 billion euros to September

In terms of budget performance, the Social Security system accounts posted a negative balance to September of 5.56 billion euros, equivalent to 0.52% of GDP.

This balance corresponds to the difference between recognised revenue from non-financial transactions of 94.68 billion euros (up 3.68%) and recognised expenses of 100.24 billion euros (up 6.15% in year-on-year terms).

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.