In Spain, the plusvalía or also known as the Impuesto municipal sobre incremento de valor de terrenos de naturaleza urbana (IIVTNU) or simply “plusvalía municipal” is based on the theory that when a property changes ownership, its value increases over time due to factors such as inflation, urban development and market demand. However, the application…
Our partner Leticia Cayuela, member of the group of young people of the AEDAF and representative of the same in the Provincial Demarcation of Malaga attended yesterday in Madrid to the XVII National Day of studies of the AEDAF, which, counted with prestigious professionals who shared their experiences and knowledge in tax matters. In this professional…
As anticipated in a previous publication of this blog dated May 11, 2023, the enactment of Law 11/2023 of May 8, published in the Official State Gazette (BOE), has represented a relevant event in the modernization of the Spanish notarial system. This law, by incorporating Directive (EU) 2019/1151 of the European Parliament and of the…
Tax Form 720 is an informative declaration required by the Tax Agency that aims to provide detailed information on the assets and rights located abroad of taxpayers resident in Spain. The assets that have to be declared in this declaration are divided into three main groups: Bank accounts and deposits Securities, rights, insurances and incomes…
Unlike other economic activities, property rental has been subject to certain requirements in order to be considered as such for tax purposes, which we will discuss below. For Income Tax, according to Article 27 of the LIRPF, property rental is considered an economic activity when it is carried out by at least one person employed…
With the sale of a property, comes the calculation of a capital gain and for this, it is vitally important to reflect the acquisition value of the property sold. As a reminder, the acquisition value of a property will be formed by the actual amount of the acquisition plus the cost of the investments and…
After an intense month of January in professional offices, it ended with a pleasant surprise for non-resident taxpayers in Spain, with the introduction of modifications to the ministerial orders that approve the self-assessment forms 123, 210, 216, by means of Order HDA/56/2024, of 25 January, published in the BOE on 31 January 2024. As…
From 2024, Form 721 will become compulsory for holding cryptocurrencies abroad and, therefore, the first financial year to be declared will be 2023. Below, we summarise the most relevant aspects to bear in mind, as the holding of this type of asset is becoming more and more frequent. Who is obliged to file form 721?…
The sale of companies whose assets consist of real estate should, from a commercial and tax point of view, be studied in detail in accordance with the regulations in force, as otherwise it could be classified as tax avoidance by avoiding the legal transaction of the sale and purchase of the real estate in question.…
Opportunity to recover Wealth Tax 2021-2022 Everything indicates that the Constitutional Court will issue a ruling on the constitutionality of the Wealth Tax for the years 2021 and 2022. In the fiscal year 2021, the Wealth Tax, through the General State Budget Law (“ Ley de Presupuestos Generales del Estado”), suffered an increase in its…