5 Questions on the effects of Brexit when buying, owning and selling property in Spain

Will I still have rights to buy and own a property in Spain? Of course yes, your acquisition rights will remain intact. Ownership rights as regulated in our Civil Code are the same regardless of nationality. Will I still have rights to rent it out? Again, of course, rental rights are … [Read more...]

FAQ’s on Spanish Taxes and Wills

Question: Hola, I have an apartment in Spain, but I do not and will not rent it out at all, so why do I still pay income tax once a year on the catestral value of the property? Answer: Acording to the Spanish Treasury just owning a property in Spain produces on you the obligation to pay IRNR. No … [Read more...]

Illegal Charges by Tax Administration Office

Here we explain a little about possible Illegal Charges by the Tax Administration Office. The Administration can check the value of your home based on the following criteria: cadastral value multiplied by a corrector coefficient, market comparison method, market studies conducted by the same … [Read more...]

Spain’s Tax Declaration 720 under revision

The Brussels Declaration, called EU Pilot 5652/13/TAXU, has recently concluded that this tax infringes Community law in two aspects: the penalty system as non proportionate and its applicability as sanctions possibilities do not expire. Brussels has expressly stated that it "intends to deepen … [Read more...]

Spanish Tax Office Clampdown

Spain's Tax Office will focus its actions this year in several areas, including the underground economy, and within this section, it will focus on the services and tourism sectors. In this sense, it will act upon those individuals who, in an "opaque" way rent properties online to the tourism … [Read more...]

OFFSHORE ASSETS TAX DECLARATION IN SPAIN

The Anti-Fraud Law obliges the taxpayer, since 2013, to file an informative return or offshore accounts, assets and properties (Form 720). TAXPAYERS • Individuals with residence in Spain • Entities with residence in Spain • Permanent establishments located in Spain of non resident … [Read more...]

Spain-UK Double Taxation Agreement renovated

The old agreement on double taxation between Spain and UK from 1975 will be replaced by a new one which will entry into force in 2014, June. Among others, rules to avoid double taxation on dividends received from UK entities by Spanish residents are included. It means that dividends received in … [Read more...]

Spanish residents with goods abroad: new deadline to declare in March

For those residents in Spain who have any good or rights abroad, be it a bank account, financial products or assets, etc., there is a new deadline for those goods to be declared: 31th of March 2014, instead of 1st of March. More information: Tax Agency (Agencia Tributaria), Modelo … [Read more...]

A frequently unknown subject: Taxation of Non-Residents in Spain

Here is a link to the official guide about Taxation of non-residents in Spain. It is published by the national tax administration body. There are many non-resident people who are not aware of this matter. The problem comes when the consequences of unpaid taxes come to the fore... So, you should … [Read more...]

©2016 CostaLuz Lawyers. All rights reserved. Privacy policy and cookies. Copyright and disclaimer.