Welex, your law firm and team of economists in Spain, is pleased to introduce you to the Royal Decree 687/2005 (known as the Beckham Law). This legislation states that a natural person, who meets a series of requirements, can be taxed by the non-resident income tax (I.R.N.R) although he or she works in Spain. How…
Once again, tax increases are implemented in Spain, eliminating the 100% bonuses of the wealth tax. Although we said goodbye to the wealth tax in Andalusia this year (see our April post), according to Law 6/2018 of July 3 in the 2018 General State Budget, the wealth tax will be renewed this year to help…
. Keys to the agreement of the budgets of 2019 in Spain. In this post, Welex, your law firm and team of accountants in Marbella, wishes to explain the main lines of the agreement on the general budgets in Spain that will have to be submitted to the Parliament in Brussels and that not only…
Did you buy a property in Spain that is under construction, and are you willing to sell your purchase option to a third party? Are you willing to purchase an already existing option to purchase a property that is under construction in Spain? It is the pleasure of the Welex lawyers in Marbella to set…
The legislation of private law in Spain is a complex subject. It can affect the amount of taxes that must be paid. Wills and inheritance management, succession regimes, residence tax, inheritance tax, real estate purchases and reform proposals must all be taken into account when considering private law. If you would like a complete list…
A foreign car must be registered with the Spanish authorities when it arrives from another country. In Spain, it is not legal to drive a car with foreign registration. When the car enters Spanish territory, you are only allowed to drive it from the port to your place of residence. It is important to register…
The beginning of a new year is a good time to reflect on the next twelve months and review your financial planning, making sure it is up-to-date and aimed at protecting your family’s long-term assets. For British citizens who live in Spain, it is important to know the different taxes that exist in Spain, as…
Our accountancy firm in Marbella has the pleasure to lay out for you the requirements of an invoice in Spain. Self-employed workers and companies can deduct certain amounts from their taxes to the Treasury, regarding the payment of VAT or the Income Tax and Corporate Tax. However, for these deductions to be accepted, the correct…
Spain’s non-resident income tax (IRNR) is a direct tax levied on income obtained in Spanish territory by individuals and entities that are not residents of Spain. If you are not a resident of Spain and you own an property in the country, you will be subject to the IRNR and real estate tax. When one…
Spain’s wealth tax is regulated by law 19/1991. In 2008, law 4/2008 established a 100% tax credit against wealth tax liability beginning on 1 January of that year. However, as a consequence of the economic crisis in Spain, the wealth tax was temporarily reinstated between 2011 and 2017. Thus, declarations of wealth tax liability must…
