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Tax deferral is one of the main advantages of investment funds for residents in Spain. It is a mechanism that allows the deferral of income tax (IRPF) on the gains made when transferring capital from one fund to another. This means that the investor does not pay taxes until they decide to recover their money,
Since late February and early March, Spain’s State Tax Administration Agency (AEAT) has introduced a new requirement for foreign entities applying for a NIF (Tax Identification Number) using form 036. From now on, certain sections of the form must be completed, including details of shareholders and their ownership percentages in the foreign company. For this
The Spanish Government has approved the update to the minimum contribution bases for 2025, which will bring significant changes for both workers and businesses in Spain. This adjustment aims to ensure that Social Security contributions are proportional to actual income, thus strengthening the pension system and adapting to the current economic situation. Below, we explain
The 2024 Spanish Income Tax Return filing period opens on 2nd April to 30th June. As every year, the Spanish Tax Agency has introduced some changes to the process. This time, two key updates could help taxpayers avoid penalties and simplify the correction of errors: fields 669 and 701. Below, we outline the most important
In 2025, self-employed individuals and businesses in Spain will face a new administrative challenge: the update to the National Classification of Economic Activities (CNAE). This reform, published in the Official State Gazette (BOE) on 15th January, is the first in 16 years and will have significant implications for businesses, both operationally and in terms of
The Spanish Government has recently announced three major labour law updates that will impact both workers and businesses in Spain. These measures include a reduction in weekly working hours, new regulations on digital disconnection rights, and the introduction of a paid leave policy for extreme weather conditions. With these changes, companies and employees must adapt
For foreign companies planning to operate in Spain, obtaining a non-resident NIF is the first essential step. This number, known as the Tax Identification Number (NIF), allows businesses to meet their tax obligations in the country without the need to establish a Spanish company. If your business intends to carry out VAT-subject activities, the NIF
With the beginning of 2025, businesses are entering a critical phase of their planning. January is a key month for tax submissions and numerous accounting tasks. Moreover, companies whose financial year aligns with the calendar year and ended in December must now also start working on their financial and tax year-end closing. This process is
On 26th December 2024, the Spanish Council of Ministers approved a Royal Decree-Law introducing significant improvements in the regulation of active retirement, partial retirement, and deferred retirement, among other measures. These reforms, resulting from the agreement reached at the Social Security and Pensions Social Dialogue Table in July 2024, aim to provide more flexible and
In November, the draft Law on Corporate Sustainability Reporting was published in the Official Bulletin of the General Courts (BOE), marking a turning point in the reporting obligations of companies in Spain. This new legislation amends the Commercial Code, the Companies Act, and the Audit Law, introducing a unique European framework for the preparation of
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