MULTIMEDIA SECTION AND LITIGATION SERVICES AT ARCOS & LAMERSASOCIADOS AND CHANGES OF SPANISH TAX LEGAL LAWS.Our firm, always providing the best service to our clients and as a confirmation that we are in constant adaptation to new technologies, is pleased to invite you to visit the recent created multimedia section of or web site where you can view a brand new original presentation on litigation services.
Dutch: http://www.arcos-lamersasociados.com/nl/multimedia/
English: http://www.arcos-lamersasociados.com/multimedia/
French: http://www.arcos-lamersasociados.com/fr/multimedia/
Spanish: http://www.arcos-lamersasociados.com/es/multimedia/
In addition do not forget to follow our weekly posts that are appearing at our blog as at the same post are appearing in 4 different languages informing on relevant Spanish Tax legislation to take into account:
For example, the new reporting obligations on assets hold out of Spain: http://www.arcos-lamersasociados.com/983/accountant-in-spain-informing-on-spanish-tax-delaration-720/ Do not hesitate to contact one of the professional ofArcos & Lamers Asociados if you believe it applies to you, professionally and/or personally wise.
Increase of Capital Gain Tax: http://www.arcos-lamersasociados.com/943/spanish-capital-gain-tax-increase-for-the-year-2013/
Less tax deductions at Spanish Income Tax: http://www.arcos-lamersasociados.com/998/no-more-tax-reduction-for-investment-in-a-permanent-residence-in-spain/
Major developments with implication in Social matters
Tax Fraud and Social Security
Our firm has learned that on the latest Labour inspections many companies which had debts towards the Social Security, regardless the amount, have initially been fined with 3.000,00 €uros.
Please do not hesitate to contact us in the event you need any additional information or clarification.
Arcos & Lamers Asociados, lawyers in Spain, Solicitors in Spain, Tax advisers in Spain, Accountants in Spain.
If you are thinking in opening a branch of your Company in Spain, please note that you should take into account the following actions to be taken. María Teresa Arcos, English speaking leading lawyer in Spain is kindly informing you:
1).- The Directors of your Company must approve an agreement stating the setting up of the branch in Spain, as well as appointing a legal representative who shall be resident in Spain.
2).- The mentioned agreement for the setting up of the branch, appointment of the representative in Spain and By Laws for the company, will have to be legalised and translated into Spanish by a Sworn translator.
3).-The social capital approved by the Mother Company will have to be deposited in Spain, when the branch counts with capital endowment.
4).- The legal representative in Spain will grant the Constitution of Company Title Deed in front of a Spanish Notary, which will include the following documentation: Read more »
Less deductions at Spanish Income Tax.
As per Spanish accountants, Arcos & Lamers Asociados, the government in Spain has accomplished what had been discussed in 2012. The tax reduction for investment in a permanent residence for all taxpayers who are fiscal residents in Spain is no longer a fact when acquiring a property after 1st January 2013.
Nevertheless, there is a transitory regime that allows taxpayers in Spain to make the reduction if at 1st January 2013:
they had acquired their usual residence or had paid towards the construction of their property in Spain.
they had paid towards the reforms or extension of the Spanish property.
they had paid fees to carry out work or installations to adjust the property for disabled people. Read more »
Denia
Located right in the north of the Costa Blanca region of Spain is the busy and popular coastal town of Denia. Famous for its fine sandy beaches, its 11th Century castle and its many fiestas, Denia has long been a destination for tourists, holidaymakers and sun lovers. Well known for its fine harbour, Denia is an important ferry port with regular trips to the Balearic Islands (Ibiza is just two hours away by ferry).
Up until the tourism explosion of the 1960’s Denia was no more than a small fishing town, relying for its existence on fishing, agriculture and a small toy making industry. In recent years the town has expanded rapidly to cater for the large influx of tourists and the increasing demand for coastal holiday homes by rich Spanish and North Europeans. Denia still has a large fishing fleet and a busy fish market is held every day in the port. Read more »
Ms. Sara Duarte, accountant in Spain, is pleased to line out some information of new tax declaration form nº720. In the prevention and fight against tax fraud an adaptation of the Spanish Tax Law 58/2003 has been approved (Spanish law 7/2012 of 29th October) and the obligation to comply with the same will apply already for the fiscal year 2012.
As a result of the tax law adaptation there will be a new obligation that will require declaring specific information regarding all assets & rights situated abroad including:
• Information about accounts in financial institutions located abroad.
• Information about securities, rights, insurance and annuities deposited, managed or obtained abroad.
• Information of ownership or rights to real estate located abroad. Read more »
Altea
Altea is located a ten minute drive North of Benidorm (ca.10 km), about 1 hour fromAlicante along the N-332 and is one of the most memorable coastal towns of the Costa Blanca, retaining its own unique Spanish charm in spite of its increasing tourism and popularity. It lies directly by the sea in the midst of a beautiful bay and is surrounding by rugged mountains – really picturesque! The name comes from the Moorish ‘Althaya’ which means ‘health to all’.
Situated on a steep hillside a short walk from the sea, with stunning views over the Bay of Altea, it is a town steeped in history and has long been a popular retreat for artists, sculptors and writers. With the recent addition of theUniversity of Culture and Fine Arts and a new concert hall Altea has been bestowed the official title of the ‘Cultural Capital of the Valencian region’.
There are several issues to be clarified for non residents individuals in Spain, when they decide whether they wish to grant a Will in Spain, to the contrary, if they choose not to grant the same as they have already got a Will in their country of residence.
Arcos y Lamers Asociados, Spanish law firm settled in Marbella specialized in Spanish Inheritance procedures, recommends in any case, the granting of your Will in Spain before a Spanish Notary, for your assets located in Spain, since it will mean in the future, a streamlining in the procedure for acceptance and receiving the inheritance in Spain by the appointed heirs. Read more »
MARIANO RAJOY
Spain’s prime minister dismissed doubts over the current health of Spanish lenders, and argued that the country’s banks had already revealed the extent of their troubles in a “complete striptease” of the sector. “I am absolutely convinced that Spanish financial institutions will not require any more funds than were given already,” he told theFinancial Times.
Spain was forced to seek a bank bail-out of up to €100bn from the EU last June. A later audit revealed that the country’s lenders would need a combined capital injection of almost €60bn.
Mr Rajoy described a “need for growth” in the 17-nation bloc, and called for Germany and other creditor nations to lead the way. “Those who are able to implement growth policies should do it,” he said. Read more »
Regretfully It’s official. As of 1st January 2013 there is a large increase of Spanish capital gain tax on the sale of properties generated with a period not exceeding of one year. The so called short term capital gain!.
This change has been included in the Spanish General budgets for 2013 (Presupuestos Generales del Estado- P.G.E.), and we can confirm that this will, regretfully, mean an increase in the Spanish income tax for residents. The short term capital gain tax is as per the beginning of 2013 taxed at the marginal rate of Spanish Income Tax, which goes between 24.75 and 52% for short-term gains produced in trading financial operations (sale of mutual funds, stocks, etc…) and real state (homes, premises, land,….). This change is only applicable for the gain generated less than a year from date of purchase to the date of sale.
Spanish road tax
Auxi Gutierrez, office manager of multilingual law firm in Marbella, Málaga, Spain is pleased to set out some lines with regards to the Spanish Tax on vehicles (Impuesto sobre vehículos de tracción mecánica IVTM). The tax on vehicles is a local municipally mandatory tax, established in Spain. This settlement of this Spanish tax is handled directly by the corresponding Town hall where cars and motorbikes are registered.
The IVTM is a Spanish tax on the ownership of motor vehicles, suitable for use on public roads.
How is this tax regulated in Spain?
You will find the regulation of this Spanish Tax in the revised Regulation Act Local Taxation (Royal Legislative Decree 2/2001 of March 5).
This tax would be applicable for all vehicles with Spanish plates except for those mentioned below Read more »
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