RENTAL OF DWELLING FOR TOURIST PURPOSES

  Holiday rentals are undoubtedly a profitable investment, especially in tourist areas such as the Andalusian coast. In order to rent out dwellings for tourist purposes in Andalusia, it is essential to obtain a licence. The requirements for obtaining such a licence are as follows: To have an occupancy licence, duly granted by the pertinent city…

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NEW PENALTIES FOR FORM 720

Up until January 2022, Spanish tax legislation provided for heavy penalties for failure to file Form 720, filing with erroneous information or late filing of the Form 720. The amounts of these fines were 5,000 euros for each missing, incomplete, inaccurate or false bit of information or set of information, with a minimum of 10,000…

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LATEST CHANGES IN FORM D-6

As we have already seen in a previous article, form D-6 is used to declare: Investments in shares of foreign companies whose capital is admitted to trading on stock exchanges. Investments in transferable securities such as bonds and debentures convertible or not into shares, promissory notes and any other similar securities. Investments in duly constituted…

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BUYING A PROPERTY IN SPAIN THROUGH A COMPANY DOMICILIED IN GIBRALTAR

Since March 2021, Gibraltar is no longer a tax haven under Spanish legislation. Anti-tax avoidance rules for tax havens therefore no longer apply, for example the Gravamen Especial sobre los Bienes Inmuebles de las Entidades no Residentes (special tax on the property of non-resident entities) (for more information about this tax please click here). However,…

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DECLARATION OF INVESTMENTS IN FOREIGN SECURITIES

Form D-6 Residents who invest in foreign marketable securities or securities deposited in foreign entities or who invest in foreign collective investment schemes must declare those securities by submitting form D-6. These declarations are filed annually with the Directorate General for Trade and Investment (Dirección General de Comercio e Inversiones) in January of each year…

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TAX BENEFITS FOR WITHDRAWALS FROM PENSION SCHEMES

There are four ways of redeeming a pension scheme: in the form of capital, in the form of income, in the form of an annuity or in mixed form. Pension schemes are taxed in the same way as earnings, but they can be subject to a 40% tax reduction if certain requirements are met. Firstly,…

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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…

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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…

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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…

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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…

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