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With the final weeks of the year approaching, taxpayers have a key opportunity to optimise their tax situation and reduce their tax liability on the following year’s income tax return. For this reason, the Spanish Association of Tax Advisors (AEDAF) reminds us that during this period, there are various strategies available to adjust the taxable
The tax management of companies is becoming increasingly complex, especially when it comes to related-party transactions. Recently, the Central Economic-Administrative Court (TEAC) has issued a key ruling that changes the tax treatment of services provided by directors on behalf of related companies. This ruling not only introduces new requirements but also forces companies to rethink
At the beginning of 2025, Social Security in Spain will introduce a new solidarity contribution. This change will entail an additional contribution for incomes that exceed the maximum annual contribution base, which for 2024 is set at €4,720.50 per month. This new contribution will only apply to the portion of the monthly salary that exceeds
In family businesses, business succession is a critical issue that requires long-term planning and vision. As entrepreneurs face the challenge of passing on their businesses to the next generation, a common option is to make a living gift of part of their assets. However, while this can facilitate business continuity, it is essential to take
There are currently more than 10,000 registered foundations in Spain, which has grown steadily in recent years, reflecting an increase in society’s commitment to social, educational, cultural, and research causes. These entities play a crucial role, channelling resources and efforts for the benefit of the community. However, effective management and compliance with their legal and
November is the month marked on all self-employed people’s calendars. From this month, Social Security will start contacting the self-employed to let them know whether they will have to pay more or receive a refund for their contributions. The regularisation process is scheduled to be completed by March 2025. Since the new contribution system came
The Supreme Court has recently established a key criterion that directly affects companies in formation and their shareholders. From now on, the income generated by these companies, as long as they are not registered in the Commercial Registry, will be directly attributed to the shareholders, who will be taxed through to pay tax on it
According to Eurostat figures for the year 2023, more than 3 million Spaniards have a teleworking format, in other words, one in four people can be considered a teleworker. This, at the European level, places us in 13th place among the twenty largest EU countries that opt for teleworking. In addition, it is worth noting
The Independent Authority for Fiscal Responsibility (AIReF) recently published its European Union (EU) fiscal governance reform analysis. This reform, which came into force in April 2024, introduces important changes to modernise fiscal rules and adapt them to the current economic environment, directly affecting economies such as our country’s. Following its entry into force last April,
Choosing Spain to do business with your company can be an interesting approach to continue to grow in an increasingly competitive market. However, in many cases, it will be necessary an appointment of a company’s representative before the National Securities Market Comission (CNMV). Non-resident entities in Spain are required to appoint a representative before the
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