Income Tax, or Form 100, is the tax on personal income of individuals in Spain. The law that applies to this tax is complex due t the large number of exemptions, bonuses, deductions, benefits and minimums that apply. There are also annual changes and tax reforms to be taken into account. Because of all this, we have advisers to ensure your tax return has been prepared correctly, which entails significant fiscal savings and the peace of mind of not being exposed to future fines from the Tax Agency.<\/div><\/div><\/div>
Wealth Tax<\/h2><\/div><\/div>
Wealth Tax is of direct and personal nature, i.e. it taxes the net assets of individuals, yet not legal entities. We must bear in mind that there are exceptions and variations depending on the Autonomous Community, hence good tax planning is essential. The filing period runs from April to June, and the form in question is known as Form 714.<\/div><\/div><\/div>
Personal Income Tax for Non-residents<\/h2><\/div><\/div>
This tax is generally referred to as IRNR and it taxes income obtained in Spain by individuals and legal entities not residing in Spanish territory. The consideration of non-residency is subject to a series of conditions, such as the number of days spent in Spain each year. The documents to be submitted are Forms 210 and 216.<\/div><\/div><\/div>
Inheritance and Donation Tax<\/h2><\/div><\/div>
This tax levies inheritance and donations received by calculating a rate to be paid by the beneficiaries. The document is Form 650 and it includes real estate, deposits in current accounts or savings, jewellery and vehicles, among others. This form must be submitted within six months of the death of the testator.<\/div><\/div><\/div>
Corporation Tax<\/h2><\/div><\/div>
Corporation Tax levies the income earned by companies registered in Spain, regardless of whether they have carried out any economic activity during the tax period. The deadline for submission is during the first 25 days of July and is done using Form 200.<\/div><\/div><\/div>
International tax planning<\/h2><\/div><\/div>
It is very important that we consider and study the taxation in the countries in which our assets or economic activity are located, even more so thanks to the irrevocable tendency of sharing information among countries.<\/div><\/div><\/div>
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