We would like to inform you that the deadline for filing the declaration M 720 for assets or rights abroad is 30 March. Residents in Spain who own assets or rights abroad, or who, having owned them, have ceased to own them during the year 2023, are obliged to file this declaration. In particular: Real […]
BUSINESS INSIGHT. Real Estate Reviews. SPAIN – July 2023 / Issue 6. Spain ranks as the fourth most attractive European country for investment in 2023. The Spanish market, led by Madrid and Barcelona, has moved up to fourth place in the European ranking for investment interest, behind the United Kingdom, Germany and France. Spain and […]
Spain continues to maintain the Residency by Investment program, commonly known as Golden Visa Spain. However, some countries in Europe, such as Portugal, Ireland, England, Cyprus, and Malta, have already suspended this option. In addition, the Greek government is considering to cancel the program. The Golden Visa in Spain allows foreigners who invest in the […]
As of 1/1/2023, Royal Decree-Law 13/2022 of 26 July 2022 establishes that the contribution that the self-employed should pay to the Social Security will be calculated according to the income that they are expected to receive from their business/professional activity during the year. The self-employed person will have to choose the monthly contribution base that […]
Next March 31 is the deadline for the presentation of the Model 720 investment abroad. Residents in Spain who own assets or rights abroad are obliged to submit this statement. Therefore, it is convenient to hurry to request the information from the foreign financial entities in which you have deposits or financial assets of any […]
On 1st January 2023, came into force the special indirect tax on non-reusable plastic packaging. We are currently waiting for the approval of the Regulation that could clarify some doubts regarding the application of this new tax, but meanwhile, we summarise the main features of this new tax on non-reusable plastic packaging. 1. Taxable persons […]
Entities engaged in the leasing of housing Companies engaged in the leasing of dwellings can enjoy a 40% rebate of the gross tax liability provided that they meet certain requirements and expressly request the application of the special regime. Requisites: - Corporate purpose: the companies must have as their main, non-exclusive corporate purpose the leasing […]
In Spain, the Personal Income Tax Law establishes a regime for foreigners who are in Spain because their work obligations are carried out in the country. The law considers these individuals as "Impatriates". This regime is also known as the "Beckham Law". Among the advantages of this regime are that of being taxed at the […]
Are you thinking of buying a property? Surely you have heard about the promissory agreement / Contrato de Arras. What is the promissory agreement? It is nothing more than a private agreement between buyer and seller, where the parties commit themselves to the future sale and purchase of a property. It is at this moment […]
Law 11/2020 of September 18, on urgent measures regarding rent containment in housing rental contracts (hereinafter referred to as the "Rent Containment Law" or "RCL") established, among other measures, the limitation on the price of rents in "stressed" areas in Catalonia. These tense market areas affected more than 60 municipalities, including Barcelona, Girona, Lleida and […]
The European Court of Justice has handed down its decision in case C-788/19 Commission v Spain, concerning a taxpayer's obligation to provide tax information, holding that the elements of the Spanish legislation requiring Spanish tax residents to declare overseas assets or rights are contrary to EU law in that the legislation's restrictions on the free […]
According to the regulations on Occupational Risk Prevention, companies are required to create a risk assessment plan and an occupational risk prevention plan. Very often it is the object of labor inspection to verify that the evaluation and prevention plan is being carried out. Its non-compliance entails significant sanctions.
Last April 14th, Royal Decree 902/2020 on equal pay for women and men came into force. It is based on pay transparency, with the aim of achieving effective equality of treatment and non-discrimination between women and men in terms of salaries.
With the entry into force of Royal Decree Law 2/2021, of January 30, the penalty regime for non-compliance with the obligation to file the Annual Accounts on time has been modified.
Next April 1st begins the Income Tax Campaign. The deadline for filing tax returns will be until 06/30/2021. Here are the most important points and the daeadlines to be taken into account for their proper filing.
From 1 January 2021 onwards the United Kingdom has become a “Third State” for VAT purposes in any E.U. State. Therefore, since the beginning of 2021 companies and professionals established in the United Kingdom may request the Refund of the Value Added Tax (VAT) paid on acquisitions or imports of goods and services within the […]
In March 2019 the Business Secrets Act 1/2019 came into force, which seeks to protect confidential information related to all types of businesses, from employees or third party collaborators breaching confidentiality, as well as from spying among other unfair practices.
Last March 26, 2018 Turkey ratified the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information to facilitate international co-operation through the exchange of relevant information for the administration, in order to promote a more effective enforcement of domestic tax laws. More details below.
More than once we are involved in conflicts, whether it is for commercial or labour issues, among others, and when proving our rights we do not always have supporting documentation that allows us to easily resolve the issue. That is why we comment on the importance of the evidence in the following Client Alert.
We comment on the changes that will take place from the 1st of January 2021, following the UK's departure from the European Union, mainly in relation to VAT obligations for businesses that supply goods in the UK.
Last December 23rd, Royal Decree-Law 35/2020 was published in the BOE, regulating a series of measures aimed at supporting the tourism, hotel and catering and trade sectors. The RD-Law introduces measures in 3 different areas: property leasing, labour and taxation.
We analyse the characteristics of the international figure of the REIT (Real Estate Investment Trust). They are a sort of financial investment that was born in the USA during the 1960s, and which years later moved to Europe to handle real estate investments.
Controversy in the European Commission over citizenship programmes for investors in Cyprus and Malta. Among other matters, they are concerned about the consequences for the European Union as a whole, since being a national of a Member State means being a citizen of the Union.
The unpredictable crisis caused by COVID-19 has had a great impact on the contracts held by the Spanish companies. In this article, we would like to comment on the application that our Courts are making concerning to the "rebus sic stantibus clause", through the precautionary measures.
We comment on the measures approved by the Generalitat to palliate the income decrease in industrial and commercial services, in particularly, price reduction from lease of commercial premises contracts.
We briefly comment on the taxes to be taken into account when carrying out real estate operations. What taxes must be paid when buying and selling a property?
In an increasingly globalised world, the number of people who settle in Spain for work purposes is growing year by year. As long as they comply with a series of requirements, the "Beckham Law" gives them the possibility of paying Personal Income Tax according to a special regime aimed at foreigners who have moved to […]
We comment on the requirements that must be met by companies dedicated to home rental in order to enjoy a bonus of 85% of the tax quota in their Corporate Tax.
The enacted Spanish law 14/2013 allows nationals of third countries who comply with certain investment requirements to freely enter or even reside in Spain. It allows the user to travel freely to other European countries within the Schengen Area. Below, we explain a little more about this possibility of visa for foreigners.
Last May 18th were approved new measures regarding situations of foreigners in Spain such as the extension of temporary residence and work permits and the extension of stay permits, among others.
It was published the Royal Decree-Law 18/2020, of 12 May, on social measures in defense of employment regarding temporary employment regulation files (“ERTEs”), based on the causes included in article 22 of Royal Decree-Law 8/2020, of 17 March, regarding extraordinary emergency measures to address the economic and social impact of COVID-19 during de-confinement. We will […]
Spanish legislation has incorporated new EU regulations in relation to intra-community operations. Deliveries of goods between EU countries used to be exempt from VAT, but the conditions for VAT exemption have changed.
Yesterday began the de-escalation of the confinement established on March 14th with the declaration of the state of alarm. The opening of retail and commercial shops, hospitality and restaurant activities are allowed following strict security and hygienic measures, as well as the practice of sport on an individual basis.
Last April 28th various measures were approved in order to give continuity to the judicial activity, such as holding of procedural acts by means of telematics presence, attention to the public by telephone or through e-mail and full working day for the court-appointed lawyers.
New measures to the Bankruptcy Law and Corporate Law were approved on April 28th. They are related to refinancing agreements, the possibility to modify the bankruptcy agreement, among others.
The Royal Decree Law 15/2020, of April the 21st, regarding complementary measures to support the economy and employment, introduce, among others, measures in order to reduce small and medium companies and self-employed persons expenses, foreseeing the possibility to require a moratorium or deferral on monthly rent payments for non-residential leases.
The BOE of April 15, 2020 publishes the Royal Decree-Law 14/2020, of April 14, which extends the term for filing and payment of tax declarations and self-assessments, within the context of the different tax measures approved in order to mitigate the effects derived from COVID-19 and the consequences of the declaration of the state of […]
On April 11th 2020 came into force the Royal Decree 487/2020, extending the state of alarm declared by Royal Decree 463/2020 of March, 14th for the management of the situation caused by the COVID-19. We comment on its major points
Despite the declaration on March 14th of the State of Alarm in Spanish territory, Personal Income Tax and Wealth Tax annual declaration filing terms remained unchanged. Therefore the respective returns may be filed online from 1st of April to 30th of June.
Font & Yildiz is a boutique law firm specialized in legal and tax assessment, both to corporations and small companies, as well as self-employed workers. Our goal has always been not just providing the best service quality in our areas of specialization but accompanying our clients and provide them the maximum support in every single […]
On March 29th the RD 10/2020 was approved, which regulates the recoverable paid leave for employees who do not provide essential services, with effects from 30th March to 9th April (both included). It's aim is reducing the mobility in relation to the fight against COVID-19, because of the fact that work and professional activity is […]
Last March 27th the Royal Decree-Law 9/2020 was approved, establishing supplementary measures in order to alleviate the effects of COVID-19. Mainly due to the significant stagnation that the labor market is recording, coupled with the significant volume of ERTE presented, since the declaration of the State of alarm. We summarize below the measures approved by […]
Covid-19 is having an immeasurable impact on people’s daily life, especially since the declaration of State of Alarm published by the Spanish Government. However, this virus has also an impact on the legal field, causing breaches of contracts as well as terminations before the impossibility to perform obligations. In consequence, there has been a significant […]
During the last week several legislative measures were approved (Royal Decree Law (“RD”) 7/2020, RD Law 8/2020, RD 463/2020 and RD 465/2020) all of which provide measures to deal with the extraordinary situation created by the spread of the COVID-19. Some of these Royal Decrees have been summarized in the previous FONT & YILDIZ’s Informative […]
In accordance with the latest provisions approved by the Spanish, regional government and the competent authorities that have been periodically published in recent days, the following summarizes the actions and possible measures in labor matters under the interruption of their economic activity.
The enacted Spanish law 14/2013 allows nationals of third countries who comply with certain investment requirements (such as maintaining a deposit of EUR 1 million with a Spanish bank or investing EUR 500 thousand in Spanish real estate properties) to freely enter or even reside in Spain. It allows the user to travel freely to […]
Owners of Real Estate in Spain are subject to the fulfillment of certain tax obligations, whose failure to pay tax because of ignorance of law might carry proceedings by the Spanish Tax Authorities. That is why we would like to remind you of the main tax figures that you should consider: INCOME TAX FOR NON-RESIDENTS […]
Last Wednesday, October 30th, we had the pleasure of receiving, in the Foment del Treball Nacional Building, from the hand of the newspaper El Economista, the AWARD FOR THE BEST MULTIDISCIPLINARY ADVISORY. This award would not have been possible without the great team that forms FONT YILDIZ, whose work allows us to put new challenges […]
El pasado 13 de Marzo se ha publicado en el BOE los nuevos impresos para la declaración del Impuesto sobre la Renta de las Personas Físicas (IRPF) correspondientes al ejercicio 2018. Por otro lado la Agencia Estatal de Administración Tributaria (AEAT), ha comunicado que ya ha iniciado el envío a los contribuyentes de los datos […]
Axel Yildiz, founding partner of FONT & YILDIZ's tax and legal service, has been recognised by the international Best Lawyers ranking in two practice areas "Corporate and M&A Law" and "Real Estate Law". Each year, the lawyer ranking service identifies the best lawyers in Spain based on the assessment of fellow professionals who vote for […]
We have joined the Catalonia Trade & Investment-ACCIÓ Partner Network, the agency of the Government of Catalonia who promotes foreign investment, business competitiveness, international trade, innovation and the financing of companies and startups in Catalonia. ACCIÓ has 40 international trade and investment offices, covering more than 100 markets. Our extensive experience in advising investors […]
30 July, 2020
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