Taxation

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Understanding the Spanish Supreme Court’s ruling on co-ownership dissolution and IRPF taxation

In a landmark decision, the Spanish Supreme Court has clarified the taxation implications under the Personal Income Tax (IRPF) in cases of co-ownership dissolution and property adjudication. This post delves into the key aspects of the ruling, offering valuable insights for taxpayers and legal professionals alike.

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Regional variations in Spain’s Wealth tax breaks and adjustments in light of ITSGF

As outlined in the AEAT’s 2022 Wealth Tax Guide, when filing the Wealth Tax return for the 2022 financial year, seven autonomous communities in Spain offered regional tax breaks on this tax, each varying in percentage (Andalusia, Aragon, Asturias, Balearic Islands, Catalonia, Galicia, and Madrid). Later on, Extremadura and Cantabria also joined this list.

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Time-sensitive alert: Immediate action required before Constitutional Court’s Wealth Tax verdict

The Constitutional Court’s Impending Decision In the dynamic world of Spanish tax law, a pivotal moment is approaching. The Constitutional Court’s upcoming ruling on the Wealth Tax, following the 2021 Budget Law amendments, could significantly impact those who paid this tax in the last two years.

Time-sensitive alert: Immediate action required before Constitutional Court’s Wealth Tax verdict Read More

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What the 2024 Balearic Islands tax reforms mean for Wealth Tax, rental income and entrepreneurial support

One of the main changes published in the Autonomous Community’s budget for 2024 is the revision of the Wealth Tax exemptions.
A new exemption threshold has been introduced, raising the Wealth Tax exemption limit to three million euros. Previously, it had been 700,000 euros (excluding the primary residence).

What the 2024 Balearic Islands tax reforms mean for Wealth Tax, rental income and entrepreneurial support Read More

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Highlights from the recent ACI congress: Insights into Spain’s hotel sector, tax dynamics, and immigration law

Recent interpretations by the Directorate-General for Taxation (DGT) reveal that new laws on indirect investment exempt shares in publicly-listed hotel companies from the Wealth Tax and Solidarity Tax on Large Fortunes. This means overseas investors in Spain’s hotel sector enjoy favorable tax treatment, contributing to the country’s appeal as a prime investment destination.

Highlights from the recent ACI congress: Insights into Spain’s hotel sector, tax dynamics, and immigration law Read More

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Pay now, appeal later. That’s the advice for the new solidarity tax for large fortunes

The immediate implementation of the new Temporary Solidarity Tax for Large Fortunes has created a whirlwind of uncertainty for both resident and non-resident taxpayers with assets in Spain. What should they do regarding planning and optimising their assets? Should they pay it at all if it might be declared unconstitutional?

Pay now, appeal later. That’s the advice for the new solidarity tax for large fortunes Read More

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