Other News

4 Start-Up Accounting Tips for the Young Trep

Unless you’re an accountant, the word “accounting” probably strikes fear in your heart — or a little bit of nervousness, at least. For young entrepreneurs, the feeling is probably amplified. After all, poor bookkeeping out of the gate not only can set a project back in the short term, it can really come back to bite you over the long haul. Even young entrepreneurs get audited, you know.

Time is worth more than money

“Today for you, tomorrow for me”, six words that sum up the spirit of an initiative that has cropped up in many Spanish cities, among them Malaga and a newly opened establishment in Marbella. Hugo Coche is one of the members of a peculiar bank where there isn’t any money or any vaults. Instead the bank offers an array of services based on the abilities of its members, and it pays with hours, not money. Each client offers their own abilities to the rest of the members and can earn the help of others who want to share what they know. This is how the Time Bank works, a system that caught the attention of Hugo, a Chilean who has spent the last 20 years in Spain, and prompted him join and offer to give English classes.

Minister for Industry, Energy and Tourism, José Manuel Soria, meets with major Russian tour operators

The Minister for Industry, Energy and Tourism, José Manuel Soria, together with the Minister for Foreign Affairs and Cooperation, José Manuel García-Margallo, met on Thursday with the main accredited Russian tour operators at the Consulate General of  Spain in Moscow.

The meeting was attended by the managing directors of such major wholesalers as Natalie Tours, VAM Tour, Vremia Tour, Classtour and Ista Tour, as well as representatives from TUI Russia, Pegas and Coral Travel (all in the photo).

Government to correct capital gains tax to combat speculation

The Minister of the Treasury and Public Administration Services, Cristóbal Montoro, announced in the Lower House of Parliament on Thursday that the Government will correct the current regime governing the capital gains system in order to “combat speculation” in the markets.

During the parliamentary debate to ratify the decree on measures aimed at correcting the deficit and fostering competitiveness, Cristóbal Montoro stressed that the existing system in which capital gains are taxed at a single rate is profoundly unfair because “everything one can earn on the Stock Exchange in a single morning” is taxed at a single rate while the earnings of a worker are taxed at progressive rates.

From the bank of San Carlos to the bank of Spain

The Banco de España as we know it today was founded in the late 18th century. Since then it has witnessed, and occasionally taken a leading role in, political, economic and social developments in Spain.

The following are some of the landmark events in its history: 

Trade deficit falls by 20.9% in first five months of 2012

In the first five months of 2012, the trade deficit fell by 20.9% year-on-year to 15.94 billion euros and trade exports increased by 3%. A non-energy surplus of 1.56 billion euros was recorded in May, the highest since 1995.

The energy deficit increased by 16% while a non-energy surplus of 3.87 billion euros was recorded. The rate of coverage (percentage of imports that can be covered by exports made in the same period) stood at 85.1%, 3.7% higher than in the first five months of 2011.

In this period, Spain exported goods worth a total of 91.11 billion euros, up 3% on the first five months of 2011. This figure points towards a consolidation, even a certain improvement, on the exports recorded in 2011 versus those in 2010. In turn, Spanish imports decreased by 1.4% year-on-year to a total of 107.05 billion euros.

Tax warning for expats in Spain

EXPATS are being warned they could be hit with hidden taxes when legalising undeclared assets as part of an amnesty.

Under the terms of the Spanish government initiative, individuals and businesses will be required to pay 10 per cent of the value of their assets or cash.

But one Costa del Sol-based legal firm is warning Britons they could be subject to additional charges on certain possessions, which must be declared by November 30.

Secrets of the 10 Most-Trusted Brands

There’s no better way to dissect the how-tos of branding than to dig deep into the companies everybody knows and trusts. To accomplish this, Entrepreneur teamed with The Values Institute at DGWB, a Santa Ana, Calif.-based think tank that focuses on brand relationships, on a consumer survey that explored the reasons some brands manage to stay on top.

Malaga, driving the economy

More often than not speeches made by Malaga-based politicians and business owners include somewhere the expression: “Malaga, the economic capital of Andalucía”. But to what extent is this true? Are there objective arguments and statistics to defend this statement outside the provincial boundaries?
Now, in the current climate, experts agree that if there is one province capable of getting Andalucía’s economic wheels rolling again, it is Malaga. The tourism industry, business initiatives, being home to the region’s biggest financial institution and the growing weight of advanced services in its productive fabric all contribute to Malaga’s economic advantage.

Economy Minister outlines new tax measures

The Ministry of Economy has released a press release – in English, for the benefit of foreign investors – detailing additional fiscal measures undertaken by the Spanish government yesterday.

The press release gave details of the latest fiscal measures and underlined the fact that they are designed to achieve Spain’s deficit targets convened with the European Commission in the framework of the Excessive Deficit Procedure.

The measures include, among others, a significant increase in tax revenues, including VAT, corporate income tax, personal income tax and excise duties; a substantial review of the unemployment benefit regime and of social security contributions; measures to increase the efficiency of the public sector and to reduce the public sector wage bill; a frontloading of the sustainability factors in the pension system.