Prices fall 0.9% in September due to downward trends in liquid fuels and electricity

According to the data published by the Spanish National Statistics Institute (Spanish acronym: INE), the Consumer Price Index (CPI) fell by 0.9% year-on-year in September. This rate is five-tenths lower than last August and matches the figure announced by the INE at the end of last September. The downturn in inflation can be mainly explained by the sharp fall in energy prices, both liquid fuels and electricity.

The price of energy products recorded a year-on-year rate of -13.6% in September, compared with -9.8% the previous month. This decrease was caused by all components of the energy index. The year-on-year rate for solid and liquid fuels fell by 2.3 percentage points to -16.4%, particularly due to the falling cost of liquid fuels and, to a lesser degree, gas. Electricity posted a reduction of almost nine percentage points on August in its year-on-year rate, to stand at -6.3%.

Do not forget to fill up the Non Resident Tax before the end of the year.

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.

Largest year-on-year fall in unemployment in a month of September since records began, with 353,608 fewer unemployed

In seasonally-adjusted terms, recorded unemployment fell by 9,746 in September. The monthy variation in easonally-adjusted unemployment figures has fallen in 27 of the last 29 months.

Recorded unemployment has fallen by 353,608 over the last 12 months, the largest reduction since current records began for the month of September. The year-on-year fall in unemployment stands at close on 8% (7.95%), a rate not seen in September since 1999.

Government eliminates double commission for withdrawal of cash from ATMs belonging to another financial institution

The Council of Ministers regulated, though a Royal Decree on financial issues that will come into force on Saturday, commissions on withdrawing cash from ATMs from a financial institutional other than the issuer of the debit or credit card.

The Vice-President of the Government, Soraya Sáenz de Santamaría, pointed out that the measure responds to the social concern generated in recent weeks over the possibility that financial institutions will charge a double commission on the withdrawal of cash.

August international tourism in Spain generates record 305 million euros per day, 4.1% higher than in 2014

​International tourism therefore generated an average of 305.2 million euros per day for the Spanish economy in August.

This increase in spending was due to an increase in tourist numbers in August (up 1.6%), increases in the average spend per person (up 2.4%) to 1,026 euros and an increase in the average spend per day (up 4.6%) to 107 euros. The United Kingdom and the Asian markets made significant contributions to this result in August.

Early figures on budgetary performance indicate Spain will meet its deficit targets in 2015

This is the first General State Budget to be presented since the start of the crisis with a primary surplus of 0.35 points of GDP, meaning that the ratio of public debt over GDP will continue to fall.

The General State Budget for 2016 is based on the same objectives as the four previous budgets drawn up by the Government of Spain during this legislature: economic growth, job creation and meeting fiscal consolidation commitments. The State Secretary for Budgets and Expenditure, Marta Fernández Currás, said today that these commitments will also be met in 2015, as she announced the positive results from the budgetary performance data to be released next week, which show a reduction in the deficits posted by both the Central Government and the regional governments. They also reflect the excellent health of the local authority accounts. "We are on the right path to meeting our stability target", she said.

TAX FINES AND SANCTIONS ON TAX FORMS OBLIGATIONS (II)

This new article we will see about other different tax fines and sanctions that can affect to people or corporations.

Penalties for not paying a tax when the result is to pay. 

This penalty is avoided when the taxpayer pays the tax without the previous requirement of the Tax Office. Or when the tax is submitted in time but without paying the deposit, because in this case the executive process to collect that debt is beginning.

Five things Spain’s ‛gag law’ will stop you doing from today

The countdown has ended. The government’s new Citizen Safety Law went into effect on Wednesday despite widespread rejection from opposition parties and many sections of society.

“Demonstrations will be freer because they will be protected from violent elements,” claims the ruling Popular Party (PP).

But the opposition accuses the government of creating “a police state” because law enforcement officers will have the power to hand out administrative sanctions that were, until now, the sole preserve of judges.

TAX FINES AND SANCTIONS ON TAX FORMS OBLIGATIONS (I)

Today we are going to explain with some detail what are the consequences of not complying with our tax obligations, or do it out of time.

Penalties for submitting tax forms after the deadline
 

If there is not a financial damage to the Tax Office , then apart from the surcharge addition , the following sanctions shall be established .

• Fixed pecuniary penalty of 200 euros . The fine would be 400 euros in the case of census tax forms.
• For cases of  informative tax forms , a pecuniary fine of 20 euros for each item or set of data referring to the same person or entity that has to been included in the statement with a minimum of 300 euros and a maximum of 20,000 euros.

Inbound tourist spending in Spain sets new record of 21.81 billion euros between January and May, up 8.4%

In May, total spending by inbound tourists rose by 11.8% to 5.89 billion euros. This is a new record for May and the largest year-on-year increase ever recorded in May.

​According to the Tourist Expenditure Survey (Spanish acronym: EGATUR) drafted by the General Sub-directorate of Tourism Information and Studies of the Ministry of Industry, Energy and Tourism, total spending by inbound tourists travelling to Spain between January and May was the highest since records began, standing at 21.81 billion euros. This represents growth of 8.4% on the first five months of 2014.