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 [...]
Conveyancing lawyers in Marbella at our firm, Welex, have the pleasure to inform you about the capital gains tax in Spain at the time of the sale of your property. When you sell a property in Spain, you must take into account that the profit you obtain is subject to tax. This is the [...]
Modifications in the Spanish Personal Income Tax in for 2018 Are you a tax resident in Spain? Then, you should take into account the following changes that were made by the Royal Decree 1074/2017, of December 29th, which modified the Regulations of the Personal Income Tax in Spain. We refer to the so known “Impuesto [...]
Please find below legal advice to take into account at the time of selling your property in Spain: Settle on the right price. It is possible that when you wish to sell your Spanish property, you might have difficulty determining the price you wish to sell it. There are specialized professionals in the real [...]
Welex, your accountant in Marbella is pleased to provide you a classification of Mercantile Companies in Spain. Spanish mercantile companies can be classified according to the following criteria: 1. From a structural point of view A classification can be made between societies of persons and corporatists versus capitalist companies. In the first, the partnership [...]
Our law firm in Marbella is pleased to provide you with more information regarding the cadastral value of your property in Spain, which is closely related to the real estate tax. Cadastral values in Spain The cadastral values are administrative values that have been determined for each property located in the Spanish Territory. [...]
Imagine that you are strolling through a city at the Costa del Sol—such as Marbella—and you stop in front of a real estate agency. Maybe you have been looking for a while at the properties in this area because you are thinking of purchasing or renting a property. During that stroll, and as you stand [...]
Welex, your law firm and team of economists in Marbella, is pleased to confirm what was already mentioned in our previous article "Blow to the inheritance and donation tax in Andalusia." Law 5/2017, of December 5th, approves the general budgets for the Autonomous Community of Andalusia for the 2018 fiscal year. It is worth highlighting [...]
The position of president in a community of owners in Spain is a potentially inexhaustible source of conflicts. We find that communities exist where everyone wants to hold the position of president because they think that the president will be able to control and dictate the direction in which the community will go. However, much [...]
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