Before purchasing a property in Spain we would strongly advise you to do some research and find out how this transaction should be done, what you should look for and what you would better avoid in order to play safe and keep well away from the problems and pitfalls that others experienced in the past. [...]
We already saw in previous posts of this blog that back in 2015 the Spanish Government had to modify the national legislation on Inheritance and Donation Tax in order to adapt it to the requirements of the sentence issued by the European Court of Justice on the 3 September 2014. As a result, all the [...]
There are good news for property owners in Andalusia with the approval of the first tax measure of the new Andalusian Government (coalition of the conservative party and the liberals): the exemption of 99% in the final tax bill of the Inheritance and Donations (Gift) Tax, which is included in the Decree Law 1/2019 published [...]
Please note that this entry is obsolete after changes in the law interpretation criteria by the Tax Administration following various judgments of the Supreme Court. You can read more in this entry of our blog Inheritance Tax for non EU residents It is worth pointing out that Brexit would have a deep impact on the taxation [...]
(Edited 15/04/2019 to include latest taxation changes) Fact 1 In Spain, mortis causa successions (to the estate of a deceased person) and inter vivos transactions (gifts between living persons) are taxable. The tax rate is the same although there are differences in the applicable bonuses and deductions. Fact 2 From 1st January 2015, the regional [...]
Spanish Government has approved the Royal Decree Law 9/2015 of 10 July by which certain tax burdens on the taxpayer are reduced. The official reason for this change is that the current economic situation and the forecasts growth over 3% allow the Government to take with immediate effect measures to alleviate the tax burden imposed [...]
(Edited on the 15/04/2019 to include the latest changes in taxation) Are you aware that, due to the recent changes in the Spanish Law, it is quite possible that now your beneficiaries will not have to pay any Inheritance Tax in Spain or at least their exposure to the tax is drastically reduced? As we [...]
In this entry we review the tax innovations and changes for year 2015 in relation to Income Tax, Corporation Tax, Wealth Tax and Inheritance and Gift Tax and how these changes affect both residents and non-residents. PERSONAL INCOME TAX OBLIGATION TO PRESENT THE TAX RETURN There is no obligation if the gross salary income does [...]
The lower house of the Spanish Parliament (Congreso de los Diputados) approved on 20 November 2014 the fiscal reform that will come into force on 1 January 2015 and that it was subject of research in the previous entry of this blog. Finally it was accepted the amendment presented by the Government party group in [...]
Spanish Government has already submitted to the Parliament and Senate the draft of the 2015 State Budget Law for discussion and further approval. Among the tax novelties contained in this proposal, there is one that in the event that it is finally approved without changes could seriously increase the tax bill for owners selling their [...]
EU rules against Spain on discriminatory Inheritance tax applicable to non-residents We have good news for all foreigners with properties in Spain as their future heirs will surely pay less tax and we have excellent news for non residents who inherited and paid tax in Spain over the last 4 years as they probably [...]
On the 15th May 2014 the Spanish Official Gazette published the new Convention signed between Spain and the United Kingdom for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital which was signed in London on the 14th March 2013 and that will come [...]
(Edited 15/04/2019 to include latest taxation changes) Every now and then we receive inquiries from clients who have properties in Spain in relation to the Inheritance Tax and how to limit or improve the exposure that their heirs will have to the same. There is a lot of information on this subject on the net, [...]
On the 26th December 2013 was published in the Official Gazette the State Budget Law for 2014 and like every year, again amending certain taxes, particularly the tax rates or ratios related thereto. Let’s see what are the changes this year: * The pensions paid by the Social Security system, are revalued in 2014, in [...]
