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.

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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.