Blog

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 council. They…

Details

TAXATION OF CRYPTOCURRENCIES

Investing in cryptocurrencies is becoming increasingly popular due to their high long-term profitability, especially by hiring expert brokers to effectively manage this highly volatile asset.   According to the Spanish law on the prevention of money laundering, a virtual currency is a digital representation of value that is neither issued nor guaranteed by a central…

Details

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…

Details

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…

Details