Do you have a Spanish Lawyer or Spanish Tax Advisor?
Do you know if your Lawyer or Fiscal Advisor in Spain has got the Officinal University Degree in order to exercise its professional activity?
Arcos & Lamers Asociados is a professional company, offering to our clients the additional guarantees provided by the Professional Companies Law (Ley de Sociedades profesionales 2/2007 15th March 2007) according to the requirements of the legislation in force.
1. INHERITANCE LAW IN SPAIN FOR FOREIGN CITIZENS
Your business is in good hands at Arcos & Lamers Asociados, Spanish property lawyers. Your solicitor in Spain!
Arcos & Lamers Asociados is an association of several professionals as Spanish Lawyers, Economists, Accountants and Tax Advisors in Marbella.
This law firm has the pleasure to line out some notes that should be taking into regards to granting of a Spanish Will and some details to take into account concerning the tax implications of the corresponding Inheritance in Spain.
Breaking news regarding Spanish bureaucratic procedures!
The Nie number that appears at the Spanish Nie certificate is a Spanish Fiscal Identification number for non Spanish nationals (“Real Decreto 557/2011, de 20 de abril, por el que se aprueba el Reglamento de la Ley Orgánica 4/2000, sobre derechos y libertades de los extranjeros en España y su integración social”). This certification does not show or proof whether you are Spanish tax resident or non Tax Resident in Spain and is only a number that identifies you as an individual in front of National, regional or local Spanish Inland Revenue.
Yes, due to the crisis in Spain, and as a temporary measurement, the Spanish Wealth tax for individuals is applicable for the financial years 2011 and 2012.
As you may know, the Spanish Wealth Tax has been reactivated last 17th September 2011 as by Spanish Royal Decree-Law 13/2011 issued on the 16th September. Since 2008, the Wealth Tax was not taken out of Spanish Tax law but an 100% tax profit was introduced leaving the same without any effect.
Dear Sir,
Are you the owner of a property in Spain but a non-fiscal resident? If this is the case, you should know that it is compulsory as per Spanish Legislation to pay a tax to the Spanish Inland Revenue, which is due for owning your property in Spain. This is the Non-Resident Income Tax, which is different to the Real Estate Tax “IBI”, a local tax to be paid to the Local Town Hall of where the property is located.
The Non Resident Income Tax is to be paid to the National Government, being a consequence of owning one or more properties in Spain. In addition, pursuant to a law approved by the governing Council in October2011, atemporary restoration of Wealth Tax has taken place in Spain with the particularity that there is a minimum exemption of 700.000 Euros, taking into account that there is a 10% surplus on a general scale applicable for those properties located in Andalucía.