TAX REFORM TO BE DETAILED TODAY

 

Last Friday, the spanish government proclaimed a "breakthrough" of the fiscal reform, which, include a reduction of income tax minimum and maximum marginal rates, new family and personal exemptions, a decrease of taxation on savings and reductions in corporation tax.

Telecommunications, broadcasting or television and electronic services to individuals : new rules for localization.

Starting on January 1, 2015 it come into effect new rules for location of telecommunications services, radio and television broadcasting and electronic services to private end consumers , which are provided for in Council Directive 2008/8/EC  of 12th of February.

TOURISM EXPENDITURE HITS A NEW RECORD IN SPAIN

Foreign tourism continues to collect positive results. After experiencing the highest growth in the last six years with the arrival of 15.3 million passengers through April, the data provided by Turespaña confirm another record , this time in terms of expenditure.

RENT OF PRINCIPAL RESIDENCE DEDUCTION ON ANNUAL INCOME TAX

One of the deductions that can be helping us in order to reduce a Little bit the Annual Income tax to pay is the Rental deduction for the payments we made on the usual living house.

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.

BANKS SAVE OVER

The government’s latest move to help out the banking sector has ballooned beyond all expectations. A November decree that transformed some of the banks’ deferred tax assets (DTAs) into state-guaranteed tax credits means that the sector may save as much as €40 billion. This is €10 billion more than the original government estimate, according to figures collated by EL PAÍS from Spain’s major lenders.

Unemployment falls by 344,900 people in the last year

According to the estimates contained in the Active Employment Survey (Spanish acronym: EPA), drafted by the National Institute of Statistics (Spanish acronym: INE), employment fell by 184,600 people in the first quarter of 2014 on the previous quarter, compared with a fall of 309,200 people in the same period of 2013. This is the lowest decline in the first quarter of the year since 2008. 79,600 jobs have been shed in the last year (-0.5%). In turn, unemployment has posted a fall of 2,300 people, while it increased by 257,200 in the same period of 2013. In the last year, unemployment has fallen by 344,900 people, the largest annual fall since mid-2005. The total number of people out of work stands at 5,933,300, an increase in the unemployment rate of two tenths of a point to 25.9%, one percentage point less than a year ago.

ARE YOU REQUIRED TO SUBMIT THE 2013 ANNUAL INCOME TAX?

 

Are you resident in Spain? So then you are only not required to fill up the 2013 Resident Tax if you are the following kind of contributor:

Income tax 2013: Main changes

The annual income tax campaign is starting and you have time to submit your tax form until the end of June. By the moment we want to check some of the main changes for this year.

44 TERRITORIES AGREE THE AUTOMATIC EXCHANGE FOR TAX INFORMATION IN 2017

In a new movement against tax fraud in 2017 it will be adopted for the first time together a specific calendar for the exchange of fiscal and financial information being valid for accounts opened in 2015 on.