On 9 July 2018, Supreme Court Ruling STS 1163/2018, dated 9 July 2018, was published, in which the scope of the declaration of unconstitutionality of the Constitutional Court ruling (TC) 59/2017 is analysed and interpreted, concluding that the Municipal Tax on Capital Gains on Urban Land, or Municipal Capital Gains Tax (IIVTNU in Spanish), is fully…
In the tax field, the General State Budget Law includes several new features: Personal Income Tax (IRPF) Further progress is being made in reducing the taxation of lower-income workers and taxpayers who bear the greatest family burdens (working women, large families and people with disabilities). The deduction for income obtained in Ceuta and Melilla…
There are seventeen different regulations in Spain governing the Tourist Rental of tourist accommodations, corresponding to each Autonomous Community. In the case of the Community of Madrid, Article 26.1.21 of the Statute of Autonomy establishes the exclusive competence of this autonomous body for the promotion and planning of tourism within its territorial scope. In other words, the…
The Spanish Tax Agency, coinciding with the summer campaign, has published an information statement reminding taxpayers of the taxes applicable to tourist rental activity and the different taxes concerned. What constitutes a tourist rental? Tourist rentals are included under the legal framework of leases for non-residential purposes, that is to say, leases that pertain to a…
The past day June 26th, at Ibermutuamur, we had the opportunity to discuss the steps to be taken upon the succession of a Family Business, mentioning all those aspects that need to be addressed at that time and their tax implications. At the event, we made an effort to summarize our experience in these processes,…
On 4 April the 2017 (IRPF) Personal Income Tax Return campaign was officially launched. Although as from 15 March it was already possible to download the new application and request the pertinent reference number, as from 4 April it is possible to ratify and file the draft tax returns through “Renta Web” via the internet, as…
On 23 January 2018, by virtue of the mandate set out in Article 116 of the General Tax Law, the Resolution of 8 January 2018 was published in the Official State Gazette (BOE), approving the general guidelines of the 2018 Annual Tax and Customs Control Plan. The plan is structured around four main areas: Fraud prevention. Information…
The following is a reminder of the requirements to qualify for total or partial foreign earned income exemption, by virtue of section 7 p) of the Income Tax Act (Ley de IRPF), which applies to Spanish tax residents. Provided the relocation does not involve losing Spanish tax resident status, there are systems that allow tax…
The period to submit the Annual Declaration of Assets and Rights Located Abroad (Tax Form 720) for FY2017 runs from 1st January to 31st March. This recurring obligation to submit information was established under Act 7/2012, 29th October, which amends tax and budget legislation and adapts financial regulations to step up fraud prevention measures, and…
Last 10 February 2018, Spanish Royal Decree 62/2018 was published, amending the Regulation on instrumentation of company commitments with employees and beneficiaries in respect of pensions, approved by Spanish Royal Decree 1588/1999, and the Regulation on pension funds and plans approved by Spanish Royal Decree 304/2004. In light of this new Spanish Royal Decree 62/2018,…
