What if my Tax Return is wrong or I did not file it in time?

The deadline for filing the 2014 tax return will be on 30 June but ... what if after the period ended, we realize that there was an error and want to fix it? How to act now?. How to act in each case varies depending on whether the mistake favors the tax authorities or us. 

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.

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.

Government steps up measures to support independent contractors and social economy

The Council of Ministers submitted the Draft Bill to foster and promote self-employment and the social economy to the Economic and Social Council, a regulation which the Vice-President of the Government, Soraya Sáenz de Santamaría, framed within what "remains the government's priority objective": increasing job creation and improving job quality.

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)

 

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.

Export Activity Indicator climbs to highest value since first quarter of 2007

The Synthetic Index of Export Activity (Spanish acronym: ISAE) stands at +25.9 points in the first quarter of the year, over seven points higher than in the previous quarter (+18.2 points). This is the highest value in this regard since the first quarter of 2007 (28.0). This increase was caused by a more optimistic outlook from export companies in the three areas measured by the survey: the order backlog and the three- and twelve-month outlooks.

Government approves reform of tax law to include publication of list of debtors

The Council of Ministers has submitted the Reform of the General Tax Act to parliament. The three principal aims of the new legislation are to step up the fight against fraud, reduce conflicts and increase legal certainty, explained the Minister for the Treasury and the Public Administration Services, Cristóbal Montoro.

One of the main new aspects of the text is the publication of the list of taxpayers with outstanding debts and sanctions in excess of one million euros. Cristóbal Montoro pointed out that, following the recommendation made by the Council of State, the list will not contain tax debts and sanctions that are deferred or suspended. Interested parties will be granted a plea phase prior to publication, and any final decision can be challenged through the administrative courts.

Recorded unemployment fell by 60,214 in March, the largest fall in 13 years

The number of unemployed registered with the Public Employment Services in Spain fell by 60,214 in March, putting the total figure at 4,451,939. This is the largest fall in unemployment in a month of March since 2002. In the last six years, recorded unemployment in March has increased by an average of over 35,000.

In seasonally-adjusted terms, recorded unemployment fell by 63,368. This is the best figure for any month since current records began. Except for July 2014, the number of unemployed in seasonally-adjusted terms has been falling month by month since May 2013 and has now fallen for the last 23 months straight.

The number of foreign residents in Spain stands at 4,925,089

According to the Statistics on Foreign Residents in Spain at 31 December 2014 drawn up by the Permanent Watchdog on Immigration (Spanish acronym: OPI) of the Secretariat-General of Immigration and Emigration, the number of foreign citizens with a valid certificate of registration or residency card stands at 4,925,089.