When an Spanish SL company has been set up there are certain fiscal requirements in Spain that will need to be fulfilled. Most companies will be required to submit quarterly and annual Tax Return to the Inland Revenue. Below you will find a basic list of the most common Tax Return obligations.

1. Quarterly Spanish Tax Returns Declarations.

a. Spanish VAT.

b. Spanish Withholding Tax (Professionals & Employees).

c. Withholding Tax (Rental).

2. Annual Declarations (Informative Declarations).

a. VAT in Spain.

b. Withholding Tax in Spain (Professionals & Employees).

c. Withholding Tax (corresponding to Spanish Rental agreements).

3. Annual Spanish Tax Declarations.

a. Spanish Company Tax.

WHEN AND HOW TO PRESENT THE TAX DECLARATIONS TO THE INLAND REVENUE IN SPAIN.

Presently, all tax declarations of any type of Spanish companies should be submitted via internet, after the period being declared has ended, most tax forms will need to be submitted even when no payment is due.

Quarterly Tax Declarations in Spain.

• 1st Quarter (January–March) Between the 1st and the 20th of April.

• 2nd Quarter (April-June) Between the 1st and the 20th of July.

• 3rd Quarter (July-September) Between the 1st and the 20th October.

• 4th Quarter (October-December) Between the 1st and the 20th of January.

Annual Tax Declarations in Spain.

• Spanish VAT Before the 30th of January.

• Spanish Withholding Tax Before the 2nd of February.

• Spanish Company Tax Before 25th July.

Your company could be subject to present these and other Spanish tax returns, depending mostly on the activity it carries out. Arcos & Lamers is made up of a team of professionals such as accountants, Tax Advisers, lawyers and solicitors who will inform and advise you on all the Spanish tax requirements and accountancy matters that your company needs in Spain. Arcos & Lamers can take on board your Spanish company bookkeeping, prepare and submit your quarterly and annual tax return. Whether your company is settled in Marbella, Málaga, Costa del Sol or any other place in Spain, the experts of the Spanish Law firm, Arcos & Lamers Asociados, will be efficiently assisting and advising you or your Spanish Company in any legal, tax and accountancy matter.

The above mentioned guidelines are granted by Ms. Sara Duarte (BA Hons in Accountancy). Please consider the above lines are for informative purposes only as law and practice are changing constantly. The above mentioned Spanish Tax information is therefore not legally binding. Arcos & Lamers Asociados are Spanish accountants in Marbella assisting and advising throughout the whole Spain.

Marbella, October, 2012.

Last month’s reduction is the largest June reduction since records began. By comparison, recorded unemployment fell by 67,858 in 2011. Furthermore, unemployment has fallen for the third month in a row following reductions in April and May 2012.

Recorded unemployment fell in all sectors of the economy except agriculture, where it rose by 1,182 (0.74%). There were 9,970 fewer unemployed in industry (-1.85%), 17,124 fewer in construction (-2.15%) and 52,654 fewer in services (-1.88%).

Finally, the number of first-time job seekers fell by 20,287 (-4.9%). Unemployment fell among both men and women: among men by 52,845 (-2.26%) on the previous month to 2,284,271; and among women by 46,008 (-1.94%) on May to 2,330,998. Unemployment among the under-25s also fell by 37,338 (-7.61%) on the previous month, while unemployment among the over-25s fell by 61,515 (-1.46%).

In year-on-year terms, recorded unemployment has increased by 493,468 (11.97%).

Down in all regions and provinces

Recorded unemployment is down in all 17 autonomous regions, led by Andalusia (-18,079), Catalonia (-15,356) and Castile and Leon (-9,215). Recorded unemployment also fell in every province of Spain, led by Madrid (-8,494), Barcelona (-7,766) and Malaga (-6,752).

The number of employment contracts recorded in June stands at 1,284,223. This is a reduction of 28,296 (-2.16%) on the same month in 2011. The accumulated number of employment contracts for the first six months of 2012 stands at 6,516,158, which is 434,661 fewer contracts (-6.25%) than in the same period of the previous year.

Nonetheless, the State Secretary pointed out that the pace at which the number of new employment contracts is falling has slowed somewhat from downward figures of 30% at the end of 2011 to between 6% and 7% in recent months. Only 2.1% fewer employment contracts were registered than in the same month of the previous year. Similarly, there was a 6% increase on the number of employment contracts signed in May.

Benefits

A total of 924,569 unemployment benefit applications were processed in May 2012, which is an increase of 22.8% on the same month of the previous year.

The number of unemployment benefit recipients at the end of the month stood at 2,899,150, an increase of 5.8% on the same month of the previous year. The rate of coverage by the unemployment protection system in May 2012 stood at 65.4%.

The total sum of unemployment benefits paid out in May 2012 amounted to 2.597 billion euros, which is 8.3% more than in the same month of the previous year.

Assessment by Engracia Hidalgo

The State Secretary for Employment, Engracia Hidalgo, confirmed that “June is traditionally a good month for employment figures but there has never been a reduction of close to 100,000 people”.

In this regard, she stressed that the current macroeconomic context needs to be kept in mind when viewing these figures, a context in which economic activity has yet to begin recovering. “It should be remembered”, she said, “that the GDP estimates for the whole of this year are negative, unlike in 2010 and 2011″. The State Secretary went on to add that “we will need to monitor the development of these unemployment figures following this good news from June in order to verify whether we can start talking about a positive trend”. In any case, she recognised that the lower unemployment figures are encouraging for the continued implementation of the reforms undertaken by the Government.

Source: lamoncloa.gob.es

Who is San Fermín?
Fermín was, of course, a normal person once. He was the son of the Roman ruler of Pamplona. His father was converted to Catholicism by San Saturino in about 300 AD. Fermín was sent to Toulouse for religious instruction and returned as a bishop.

Why do people wear the red scarf (panuelo) around their necks?
This is related to San Fermín. As a newly consecrated bishop, Fermín began to spread his teachings. He ran into trouble in Amiens in France. He was tortured and beheaded there and became a martyr. The panuelo represents his death, bleeding from the neck.

Why do people wear white?
There are three different theories on this. One is that the peñas, which are local social groups in Pamplona, started to wear white to differentiate themselves from the rest of the crowd. From here, the tradition spread. Another thought is that before the Running of the Bulls was even an official event, people still needed to guide the bulls from their enclosures to the Bullring. They were helped by people on horseback but also others who ran in front of the bulls to get them to follow. These people wore white – hence the tradition. The final theory comes from the three fundamental pillars of the festival. One is spontaneity, the second tradition and the third anonymity omitting any wealth, social background or politics. White ensures the anonymity.

Did you know there are two San Fermín fiestas?
The big messy international one is starting this Friday 6th July, but there’s also a local traditional celebration of the Saint Fermín in September. There is no bull run or fight, but the religious ceremonies take precedence and, of course, the drinking, fun and fiesta too.

How does the fiesta of San Fermín retain political anonymity?
This is well thought-out fairness. The responsibility of lighting the rocket for the Chupinazo (this is the opening ceremony at 12pm on Friday) is rotated between the different political parties.

Who are these crazy giants and people wearing huge hollow heads?
They are the Gigantes and Cabezudos. The parades of the Gigantes and Cabezudos happen everyday of the fiesta. They carry pikes with foam balls on the end and will hit you with them if you annoy them enough. There are five pairs, to represent all the continents on Earth. Aha! But before you geographers slap my wrists, I know there are six (land masses)! But when this tradition first began, they had no clue about the land down under, and, well, the traditional number stuck. Try to spot the affectionately named potato head and vinegar face Cabezudo . Children provoke these clumsy top-heavy characters and run quick to avoid the beating!

Did you know there is an unofficial running of the bulls every evening at sundown?
The bulls need to be moved from their enclosures to the pens from where they start the encierro the next next morning. At sunset the short run is made in mystical darkness. The street lamps go out, the crowds are hushed, the nearby fairground comes to a standstill to allow the bulls to move in peace. You can watch this by the river. Listen out for the horn signal.

Do you like garlic?
In Plaza de las Recoletas there used to be a huge garlic market each year. Now only two stalls remain but the long garlands of garlic are of unrivalled quality.

Finally, where can you find the best lemon sorbet during the festival?
At the peña headquarters of Gaztel Eku in a back street off of Calle Mayor.

Many thanks to Free Tours San Fermín for all the information. Join them every evening from 2nd-5th July at 7pm at the Ayuntamiento (Town Hall) square. They’ll show you the city, tell you about the history and give you some essential tips for any of you brave enough to run with the bulls!

Enjoy the fiesta!

Source: Theolivepress.es

The International Sand Art Competition began on Marbella’s shores on Monday, with 10 artists from around the world working head to head. With the theme of ‘Secrets of the Sea’, the seven-day challenge features artists from Europe and Russia, as well as award-winning Indian sand artist Sudarshan Pattnaik.

Pattnaik, who is fresh from winning first prize at the Copenhagen Sand Sculpture Contest in May with a 2.5 metre high mermaid, will certainly have his eye on the title. “This will be my second appearance in Spain,” said the 35-year-old, who started working with sand at the age of seven and has since dedicated his life to the art form. “When I participated here six years ago I won second prize,” he added, referring to the competition in Valladolid in 2003. “There are so many species living in the oceans of which people know very little. I want to create a sculpture to raise awareness,” he said by way of a clue to his fans as to what he might create on Marbella beach. 

Pattnaik’s previous sculptures include aids awareness pieces, Michael Jackson’s head along with his trademark fedora hat, and a sculpture of 105 Santa Clauses and Christmas trees on the beach in his hometown of Puri using a thousand tons of sand.

Source: Theolivepress

Another beneficiary is Málaga Port which has taken a grand part of the business from Tangiers. Málaga saw a freight total up 216.4%, reaching 3.49 million tons.

Both ports have benefited by the increase in container traffic.
What was feared to be a competitor, the new Tangiers-Med port in Morocco, has suffered from problems in manpower stability.

Huelva port has also seen traffic up 12%, thanks mostly to the nearby Cepsa refinery, and a new regular route to the Canaries.

Motril has benefitted from a new route with Melilla which has resulted in 35% growth in traffic, while Almería has done well with bulk solids and 55% more cargo.

The one port in the region to see a fall in traffic is Sevilla, where traffic has fallen by 3.25%.

Source: typicallyspanish.com

Here are quick tips from Benson to position yourself smartly:

1. Write a business plan. Vague ideas scribbled in your notebook won’t impress lenders. For help with a business plan, Benson suggests starting with free templates available online. For examples, check out those available here or on the Small Business Administration’s website. She also recommends contacting your local Small Business Development Center, or make an appointment with a SCORE volunteer. Once you have a plan, update it at least once a year, she says.

Related: How to Craft a Business Plan That’ll Turn Investors’ Heads

2. Organize your paperwork. Lenders have checklists of documents they need, like legal operating agreements, tax returns, and insurance papers. Have hard copies of these important business documents in one place so you can answer questions easily and promptly.

3. Determine how much money you need. Benson says lenders and investors do not like to hear “whatever you want to give me” or broad terms like “working capital,” because that indicates disorganization. Know how much you need and what you are going to do with that money. Also, be ready to explain why you are borrowing it and how you are going to pay it back.

4. Be prepared to put your own skin in the game. Investing your own money into your business inspires confidence in lenders. Be sure you have documentation to prove exactly how much you invested.

Related: 3 Online Tools To Find Funding

5. Know your business numbers. It’s fine to hire an accountant, but when you sit down with a lender you need to know what the line items on your balance sheet and income statement represent.

6. Be transparent. Don’t keep secrets. Lenders will research your financial history. So, even if you don’t disclose debt on your application, the lender will find it. “It only delays the process,” Benson warns.

7. Ask questions about the process. If the lender conducts site visits, schedule one at a time when you are likely to have customers. If your business partner needs to be present, be sure that he or she is there. If your application goes to a credit committee, don’t expect a decision overnight.

8. Read the fine print. In addition to understanding the interest rate, know the “all-in” cost of your loan: Ask about application costs, transaction fees, renewal fees, and any penalty fees.

9. Be yourself. “We want you to be honest and open — that is about character,” Benson says. “The investor is really banking on you.” Especially if you are working with micro lenders or alternative lenders, if they’re impressed with your character, they’re more likely to work with you.

Related: 3 Rules for Successful Crowdfunding

What helped you the most to get a business loan? Share your approach and respond to other readers in the comments below.  

Source: entrepreneur.com

Marta Fernández Currás believes that the Government’s decision to support the liquidity of other public administration services, households and businesses is having a significant effect on the State deficit figure for the first five months of the year, and believes it would be far more appropriate to carry out a comparison with 2011 in standardised terms in order to cater for the earlier application of certain expenditure items for transfers and tax rebates.

The Government continues to make daily efforts “to meet the stability targets, as we consider correcting the deficit to be an essential task”, said the State Secretary for Budgets and Expenditure.

To May, the State recorded a deficit of 36.36 billion euros in national accounting terms (equivalent to 3.41% of GDP). According to the budgetary performance data announcement made on Tuesday by the State Secretary for Budgets and Expenditure, this figure has been influenced by the earlier payment of transfers to other public administration services of almost 9 billion euros.

Particular mention should be made regarding the transfers made to the Regional Governments that amount to 5.18 billion euros, as well as the lower amounts transferred to the Social Security System, Local Authorities and the European Union budget.
It should also be noted that a larger volume of tax rebates (close to 1.6 billion euros higher than usual amount) have been paid in comparison to what would be a normal year.

In cash accounting terms, an accounting method where receipts are recorded during the period they are received and expenses are recorded in the period in which they are actually paid, the deficit for the first five months of the year stands at 19.79 billion euros (1.86% of GDP). This figure has also been influenced by the same factors as the figure quoted in national accounting terms, meaning that a comparison in standardised terms reflects a cash deficit of 1.48 billion euros less than in 2011.

Non-financial revenue

State non-financial revenue before deducting the participation from other administration services amounted to 75.25 billion euros at the end of the first five months of 2012, 0.1% less than in the same period of the previous year.

Revenue from IRPF [Spanish Personal Income Tax] amounted to 30.12 billion euros. This is 0.8% more than a year ago and the first tax revenue increase so far this year, a trend that was positively influenced by the complementary levy approved last December and that has had a positive impact on revenue from employee withholdings.

A positive influence was also had by the 13.6% increase in revenue from real estate capital withholdings due to the dynamic nature of incomes in this regard and the rate increase from 19% to 21%, which has led to greater revenue.

Rental income withholdings and investment fund withholdings have slowed their decline due to an upturn in May, although they remain in negative territory with rates of -1.7% and -22.1%, respectively.

Revenue from Corporate Income Tax has fallen by 8% to a total of 3.57 billion euros. This negative trend is the result of faster tax rebate payments and lower revenue from withholdings on public debt interest.

When making a comparison in standardised terms, revenue from Corporate Income Tax has grown by 22.6% due to the promotion of regulatory measures on capital withholdings and quarterly tax payments.

VAT revenue has fallen by 10.1% to 22.78 billion euros due to a significant slump in consumption and a greater effort in terms of tax rebates, which increased by 7.3% on the previous year.

As regards revenue from special taxes, this figure has fallen in the first five months of the year by 2.8% on 2011 to 7.47 billion euros.

This reduction in revenue is a direct result of the situation regarding tobacco prior to the rate and price increase, as well as to the 7.2% decline in Hydrocarbons Tax revenue (in line with the fall in fuel consumption). However, this revenue is fully in line with the forecasts made for this year.

Non-financial expenditure

In the first five months of the year, financial expenditure amounted to 65.72 billion euros (an increase of 12% on the same period of 2011) due to the earlier payment of transfers to other public administration services (mainly to the Regional Governments).
All budgetary headings show reductions except for those of staff costs, interest costs and current transfer costs.

Staff costs rose by 1.4% due to increased social security contributions and pensions, the latter affected by the 1% increase set by the Government for 2012.

Current expenditure on goods and services fell by 30.7% as a result of expenditure made in 2011 with no corresponding equivalent this year and the austerity being applied to this type of expenditure by this Government.

Financial expenditure amounted to 11.56 billion euros (an increase of 32% on the previous year). However, it should be noted that the evolution of this expenditure depends on the schedule of maturities.

Current transfer expenditure rose by 27.1% due to the earlier payment of transfers to other public administration services, particularly the Regional Governments and the Social Security System.

Expenditure aimed at financing real investments fell by 35.9% to 1.94 billion euros.

Source: lamoncloa.gob.es

Between the beaches and the jagged peaks of the Sierra Blanca mountains sits Marbella’s old town – its Moorish casco antiguo – an unexpected pocket of peaceful, cobble-stoned charm and antiquity among the southern Spanish resort town’s modern mix of working local life and tourist trappings.