(English) Monthly Newsletter - Arcos & Lamers Asociados

Calendar Income Tax in Spain 2014 to be presented in 2015

Your fiscal advisor, expert accountant and lawyer in Marbella have the pleasure to present you the calendar in order to make your tax return.

When does the Spanish tax campaign for the year 2014 start?

The Spanish Income tax campaign 2014 starts on the 7th of April 2015.

The draft tax return and/or fiscal details may be obtained online from the 7th April 2015 till the 30th June (24h). Likewise, the Spanish Tax Office will attend you by phone from Monday till Friday from 9am till 9pm.

The consolidation of the domain for extinction of usufruct in Spain

There are situations in which a property, for different circumstances, is registered at the corresponding Spanish Land Registry, divided between "bare ownership" and "usufruct".

Definition of the usufruct in Spain.

The Spanish Civil Code defines the usufruct as the right to enjoy the goods of others with the obligation to keep its form and substance, unless the title of its constitution or the law authorise other way. (Article 467 CC).

Company tax in Spain 2015, main 15 amendments

Reforms of the laws 26, 27 and 28/2014. Corporation tax:

The fiscal advisors of our law firm in Marbella, where you may find accountants and lawyers under one roof, have the pleasure to inform you about the most relevant modifications on the Spanish Company Tax. These Spanish Tax modifications shall enter into force from the 1st January 2015.

A new concept of economic activity regarding rental activity of real properties is given. It shall not be obligatory any more to have a trade premises and it is enough that one person is registered as a full time employee.
The concept of “holding company” or “asset management company” is acknowledged to be a company that does not carry out any business activities or companies with more than half of their assets composed of values and is not related to business activities.

Reductions on Spanish with-holding Tax

Spanish tax advisers in Marbella have the pleasure to announce reductions into the Spanish with-holding tax. The so known “Retenciones e ingresos a cuenta del IRPF”.

Spanish withholding tax professional activity.

The with-holding tax in Spain to be applied on the net amount of an invoice issued by a self employed performing a professional activity for the tax year 2015 has been reduced from 21% to 19%. Therefore, from the 01.01.2015 all the invoices issued by professionals subject to the general rule should apply this new reduced rate. It has also been approved that for the tax year 2016 will be reduced again down to 18%.

Reduced withholding tax rate in Spain.