Articles tagged with: non-residents
Headline, Inheritance Tax, nerja, NON RESIDENT, PREVENTION, Tax Law, taxes »
Recently, some of our clients have received notifications at our law firm from the Spanish Tax Office demanding the submission of a copy of their Spanish Income Tax return for fiscal Residents or their Income Tax Return for Non Residents with properties in Spain, which are compulsory to be filed in these cases and considering that Spanish Tax Authorities know they own or have owned a property in Spain. Warning that failure to do it will be fined or will give them a penalty. This issue was formerly considered in …
Andalucía, english speaking solicitor, Headline, Income, lawyer, legal advice, Property law, rentals, solicitors Nerja, torrox »
On the 5th of June 2013, Spanish Law 4/2013 dated 4th of June was published in the Spanish Official Gazette B.O.E. This recent Law states the procedures to relax and promote the rental housing market. By means of this Law, the Spanish Government tries to regulate summer holiday rentals, which are not controlled by the Spanish Tax Administration Office.
These regulations aim at two basic objectives: on the one hand, to change people’s habit in respect of meeting their housing needs—up to now, people were inclined to purchase their usual home …
Andalucía, english speaking solicitor, fraud, Headline, interest, lawyer, legal advice, malaga, preferred shares, solicitors Nerja »
By the end of 2008, Spanish saving banks and banks already had clear reports stating that current high interest rates may drop and the property bubble was about to burst. In addition, they also knew that the lucrative business of saving banks in the construction sector by means of credits for developers and mortgages for individuals, was about to go to ruin.
Regarding that their core business in the housing sector was about to finish and that saving banks could not issue shares as banks could, they “invented” the sale of …
FAMILY LAW, Featured, Inheritance Tax, legal advice, NON RESIDENT, PREVENTION, PROBATE LAW, taxes, wills »
Currently, non-resident taxpayers face two major problems in respect to the payment of Inheritance Tax in Spain:
1. Discrimination: non-residents pay much more taxes than residents.
2. Double taxation: this tax is payable in two different countries for the same inherited property.
In Spain, taxes are paid for inheritance between non-residents—even though they are immediate family members, spouses, parents, children…, upon application of the government regulations, that is, a progressive scale of taxes based on the transferred property value.
However, regarding inheritance between residents—immediate family members—taxes are much lower or even not paid, as …
Capital Gains, CONVEYANCING, discount, english speaking solicitor, Featured, Headline, Income, legal advice, malaga, NON RESIDENT, resident, solicitor, taxes »
Regarding the current financial situation, which is reflected in the drop of property sales in Spain every three months, the Spanish Government has passed a new tax exemption. This exemption tries to promote the sale of properties and may become very interesting for both individuals and bodies corporate considering buying a real estate property in Spain in the short term, whether they purchase commercial premises, homes, offices, garages, plots, storage rooms, etc.
On the 12th of May 2012, the Central Government passed the Spanish Royal Decree-Law 18/2012 of 11th of May …
conveyancing, CONVEYANCING, Featured, Income, lawyer, legal advice, NON RESIDENT, PREVENTION, Property law, solicitor, taxes, torrox »
The Spanish Constitution and the regulations (tax and social) developed thereof, regarding the protection of the elderly, guarantee that the elderly will receive a comprehensive system of care and protection that promotes and enhances the wellbeing of this section of the population, within which this article highlights the area of economic protection.
The purpose of this type of protection is to formulate a system of regulations that provide the elderly with the necessary economic resources, which will contribute towards their independence and improve their quality of life.
As principle provisions or benefits …
asimilado fuera de ordenación, fuera de ordenacion, Inmobiliario, legalización, malaga, suelo rustico, Urbanismo en La Axarquía »
Hace tres semanas recibimos en nuestro despacho copia del borrador denominado Proyecto de Decreto por el que se regula el régimen de las edificaciones y asentamientos existentes en suelo no urbanizable en la Comunidad Autónoma de Andalucía de fecha 20 de Junio de 2011.
Se presupone que dicho borrador nace con la intención de regularizar o regular la situación de miles y miles de viviendas situadas en suelo no urbanizable en Andalucía, sobre las cuales ya no es posible ejercer ninguna acción de responsabilidad urbanística, ya sea en vía penal o …
CONVEYANCING, Featured, Headline, Income, Inmobiliario, NON RESIDENT, taxes »
All property owners in Spain are liable for some taxes every year. Even if you are (tax) non-resident, when owning a property, you must fulfill your fiscal obligations here in Spain by submitting your yearly income tax declaration for non-residents (IRNR).
In the event you are non-resident in Spain, the reason why you are subject to this tax is because your Spanish property is not your principal residence. Non-residents remain subject to the tax because, by definition, Spain is not their principal residence, so that it is necessary to calculate …