Prices fall by 0.8% due to energy and unprocessed foods

 

 

The Consumer Price Index (CPI) fell by 0.8% in February in year-on-year terms, according to the latest figures published by the National Institute of Statistics (Spanish acronym: INE), as previously announced at the end of last month. Hence, the overall reduction, compared with January, stands at 0.5%, fundamentally down to fuel prices and unprocessed foods. Compared with the previous month, the general CPI fell by 0.4% in February, compared with a 0.2% increase in the same month of 2015.

ICO issued 166,000 loans to Spanish companies through its various lines for a sum of almost 10 billion euros

 The Official Credit Institute (Spanish acronym: ICO) issued 10 billion euros last year through its Mediation Lines in partnership with the private banking sector. A total of 166,000 transactions were completed through these lines of credit, which were used to finance investments, liquidity and foster the internationalisation of Spanish companies.

Furthermore, the ICO financed 1.25 billion euros to companies in 2015 through direct loans for major investment projects, which is an increase of 70% on the previous year.

Two out of three people who set up as entrepreneurs in Spain are women

​On International Women's Day, the President of the Government visited the Google Campus in Madrid, where he held a talk with entrepreneurs who presented him with their respective technological projects.

Mariano Rajoy indicated that the percentage of women working in 1977, at the start of the democratic period, was 18%, while now the female employment rate is over 40%, which is "a very substantial improvement". He also pointed out that following the "monumental" economic crisis suffered by the country between 2008 and 2014, the recovery in female employment has outpaced male employment.

DECLARATION OF ASSETS ABROAD, UNTIL THE END OF MARCH

From January 1st until March 31st tax residents in Spain are obliged to report on the following groups of assets and rights abroad they had in 2015 (in case the assets of a group are exceeding 50000€):

1) Bank accounts, credit accounts or any other  financial product in any institutions located abroad.
2) Securities, rights, insurance and annuities deposited, managed or obtained abroad.
3) Real estate and real property rights of ownership located abroad.

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.

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. 

Spanish Tax Agency to strengthen efforts against hidden economy and investigation of overseas wealth and incomes in 2016

Strengthening the fight against the hidden economy and the investigation of wealth and incomes that may be hidden overseas will be the basic pillars of the 2016 Tax Control Plan, the guidelines of which will be published on Tuesday in the Official State Gazette.

​Other fundamental aspects of the plan include steps to control international fiscal planning and e-commerce, fields in which the Spanish Tax Agency will be supported by strengthened taxpayer selection and control tools. Similarly, the fight against fraud in the area of tax collection will also be stepped up under a strategy focused on extending actions to manage the collection of outstanding debts to a larger number of taxpayers by detecting cases of liability and guaranteeing effective debt collection.

Number of National Insurance contributors rises by 63,355 in February

The year-on-year rate of NI contributors rose by 2.97%, the largest increase in a month of February since 2007. In seasonally-adjusted terms, this increase represents 32,492 more people in work.

​The average number of National Insurance contributors amounted to 17,167,712 in the month of February, after rising by 63,355 contributors (up 0.37%).

Number of unemployed rises by 2,231 in February

The number of unemployed registered with the Public Employment Services rose by 2,231 in the month of February on the previous month to take the total number to 4,152,986. In February 2015 it fell by 13,538 and in February 2014 by 1,949.​In seasonally-adjusted terms, unemployment fell by 21,959 in February.

Over the last 12 months, recorded unemployment has fallen by 359,167. This is the largest fall in a month of February since records began. The rate of decline maintains its year-on-year rate of around 8% (7.95%).

Spain tops global wine export table, but is selling product cheap

Spain was the world’s number one wine exporter in 2015, setting a new record with sales of nearly 24 million hectoliters, which brought in revenues of €2.6 billion. Those figures easily beat the 20 million hectoliters exported by Italy and the 15 million hectoliters by France, the second- and third-biggest global exporters, respectively.