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.

Average number of foreign citizens registered with Spanish Social Security system stands at 1,645,874 in September

The average number of foreign workers registered with the Social Security system stands at 1,645,874 in September, up 0.14% on the previous month (2,229 more workers).

The number of foreign workers contributing to the Social Security system has risen by 4.02% year-on-year, with 63,539 more workers than in 2014. This is the largest increase in foreign workers in a month of September since 2008.

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.

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.