BUYING PROPERTY IN SPAIN THROUGH NOMINEE COMPANIES IN A TAX HAVEN

It is common practice in Spain to buy properties through companies in tax havens as a means to evading transfer tax, inheritance and gift tax and capital gains tax. To penalise this practice, the Gravamen Especial sobre los Bienes Inmuebles de las Entidades no Residentes (special tax on property of non-resident entities) was introduced. It…

Detalles

OBLIGATION TO FILE A DECLARATION OF PROPERTIES HELD ABROAD

Spanish residents who hold properties abroad worth over €1,502,530.26 in total -or when the recipient of such investments are territories or countries classed as tax havens, regardless of worth- must declare them with the Ministry of Economy’s Investment Register (Registro de Inversiones del Ministerio de Economía) by submitting form D-7A. The deadline for this declaration…

Detalles

OBLIGATION TO DECLARE INVESTMENTS IN PROPERTY LOCATED IN SPAIN

When a non-resident buys a property in Spain, as well as declaring property transfer and stamp duty tax (Impuesto de Transmisiones Patrimoniales y Actos Jurídicos Documentados) and/or VAT tax, they must file a declaration of this investment with the Ministry of Economy’s Investment Register (Registro de Inversiones del Ministerio de Economía) when the total amount…

Detalles

TempleCAMBRIA AMPLIA SUS ÁREA DE EJERCICIOS COMO REPRESENTANTES ADUANEROS

Con el espíritu siempre de innovación y avance para ofrecer desde TempleCAMBRIA un buen servicio a los clientes, recientemente nuestros socios, Juan Antonio Rodríguez García y Álvaro Morales Sousa, han superado las pruebas de aptitud para la capacitación como representantes aduaneros otorgado por la Agencia Estatal de Administración Tributaria, perteneciente al Ministerio de Hacienda y…

Detalles

SITUACIÓN LEGAL TRAS ANULACIÓN DEL PLAN GENERAL DE ORDENACIÓN URBANA DE CHICLANA

El pasado miércoles 8 de septiembre, la Sala de lo Contencioso Administrativo del TS ha anunciado finalmente su resolución que declaraba nulo el Plan General de Ordenación Urbana de Chiclana que fue aprobado definitivamente en el año 2016. Los motivos de dicha anulación son básicamente de carácter formal. Entre otros muchos defectos, el principal es…

Detalles

SALE OF PRIMARY RESIDENCE. TAX RELIEF FOR REINVESTING

Individuals who receive gains on the sale of their primary residence can be exempt from paying income tax if the vendor is over 65 years old or the gains are reinvested in a new primary residence. The following requirements must be fulfilled: Primary The house being sold must qualify as the taxpayer’s primary residence, in…

Detalles

TAX RESIDENCY IN SPAIN AND GIBRALTAR (TIEBREAKER RULES)

Spain and Gibraltar have reached a post-Brexit agreement, published on 13 March 2021. This lays down rules for determining tax residency. An individual will be considered a resident in Spain if: the individual spends more than 183 overnight stays in Spain over the course of a calendar year. Periods of sporadic absence (where the person…

Detalles

TAX BENEFITS FOR SECONDMENT TO SPAIN (THE ‘BECKHAM LAW’)

  The special ‘inbound expat’ tax scheme allows workers who become residents in Spain due to an employment contract or occupying a director position in a company to be taxed as non-residents -with the obvious tax benefits- during the year the individual becomes a Spanish tax resident and the five consecutive years thereafter.   There…

Detalles