The expert accountants, economists and tax advisors at Welex offer professional services both to natural persons and legal entities, whether residents or non-residents in Spain. Tax and accountancy advice for natural persons who are non-residents in Spain.
Are you a non-resident and own a property in Spain? If so, it is important to fulfil all your tax responsibilities and we will be happy to study your case regarding Non-Resident Income Tax, which is an annual income statement.
Even if Spanish property is not occupied and / or rented to a third party, Spanish law estimates an income, and all owners must prepare and submit this personal tax return. In “Welex” we will carry out your corresponding tax presentation, providing you with the calculations of this yearly tax. We can file the income tax for non-residents as well as make the corresponding payment.
The calculation of Income Tax for non-residents (I.R.N.R) must be prepared each year, as the circumstances of each taxpayer may vary.
During the fiscal year 2015, there was a review of the tax rates applicable to the income of all non-resident taxpayers in Spain who do not have a permanent establishment.
In general, for informative purposes, we are keen to present you the following scheme explaining the figures of this tax in Spain:
Our Law Firm of tax advisors in Marbella can calculate your tax, fill in your returns and make the payment of the corresponding taxes.
We can also advise you on any fiscal, legal and accountancy matter.
The Wealth Tax has been reactivated provisionally for the years 2011, 2012, 2013, 2014, 2015 and 2016.
When must the Wealth Tax be paid?
The wealth tax must be paid on the 31st of December of each fiscal yearIs there a minimum exempted of payment?The tax base will be reduced as a minimum exempt at 700.000 euros.Is there an obligation to file for the Wealth Tax even if the net value of my property in Spain is less than 700.000 euros?Taxpayers whose resulting sum needs to be paid are obliged to file the return. Also those value of assets and rights is higher than 2.000.000 euros, even when the quota is negative, are obligated.Tax and accountancy advice for legal entitiesWelex, your Law Firm and team of economists in Marbella, is specialised in providing tax and accountancy services for both small and medium-sized companies.The tax advisors of our Law Firm provide tax advice and are at your disposal for the preparation and filing of the following returns:
- Value added tax (VAT).
- Income tax for natural persons (withholdings and payment in advance of the income of work, of certain economic activities).
- Income tax for natural persons (withholdings and payment in advance of certain income or income arising from rentals).
- Returns of instalment payments of the corporate tax.
- Yearly return for transactions with third parties.
- Yearly corporate tax return.
Accountancy advice for companies in Spain.
At Welex, we offer professional, personalised service. All our professionals have years of experience in their activity, which they put at your service in order to respond quickly and effectively to your matters.In your business, you must have your accounts up to date, and this task requires qualified people if maximum net benefits are to be reported of the economic activity..It is extremely important to have the knowledge of an expert accountant when your company is a trading company.The formal obligations of companies can basically be classified into three categories:Formal accountancy obligations.The obligatory books that a company in Spain must have are:
- Balance sheet.
- Profit and loss account.
- Annual report.
The three aforementioned documents must be drawn up clearly so that the information is useful and comprehensible. Information that arises from the annual accounts must show the true image of the company’s equity and results.
A) The annual accounts, which are made up of the following:
B) Journal, in which all operations related to the company’s activity are daily registered.
C) Minutes book.
D) Registry of shareholders of a limited company.
Property Company versus company with economic activity in Spain
Welex, your office of economists and Tax Advisors in Marbella is pleased to write a few lines abo
We also remind the tax rates and exemptions from corporation tax in Spain.
When does a company in Spain have an economic activity?
A Spanish company will have an economic activity when there is self-organisation of the means of production and human resources or one of both with the aim of producing or distributing goods or services.
The closure of the accountancy books of a company in Spain
By WeLex, your efficient accountant in Marbella.
After the start of a new year, it is normal to wipe the sheets clean, but in accounting, this is not possible. Although the accounting year ends – as a general rule, on December 31 – in Spain it is not until July, with the filing of the company tax, when we can finally erase the finished year.
The closure of the accountancy books in Spain
Therefore, the accountant of your company in Spain should work hard at the end of each finantial year in order to start the procedure to close the accountancy books. In general, it is appropriate to point out the existence of three stages of great complexity and precision that constitute the phases of accounting closing and fiscal closure. These are:
1º Accounting closing.
2º Presentation of accountancy books and annual accounts in the Mercantile Register.
3º Presentation of Spanish company tax form.
To better understand its performance today, we are going to focus on accounting closing, and, in subsequent blogs, we will be looking more closely at the presentation of accountancy books and annual accounts in the Mercantile Register and the presentation of company tax.
Practical case on VAT of a construction company in Spain
By WeLex, your English speaking accountant in Spain! Do the invoices of a constructor in Spain accrue VAT? And what if the client is a German company that has an intra-community VAT number? WeLex, your multilingual law firm and team of accountants in Marbella, has the pleasure of explaining to you a practical case on…
Billing requirements to justify deductible expenses in Spain
Our accountancy firm in Marbella has the pleasure to lay out for you the requirements of an i
Obtain more information as our firm in Spain has a specific website about accountancy and tax.
Do you need legal advice about a property in Spain?
Welex has a team of professionals, composed, among others, of lawyers and economists, experts in the purchase and sale of real estate, both in the legal and fiscal sides of the transaction. Clarify your doubts, do not wait to ask for advice. Contact our offices without any commitment, we will be willing to help you.
Related posts
Tourist Rental License in Andalusia: Requirements and Legal Management
Tourist rentals have become a popular way for property owners in Andalusia to generate additional income. With its rich cultural diversity, renowned beaches, and historical destinations, the region attracts millions of tourists annually, making vacation rentals a lucrative business. However, operating legally requires obtaining a tourist license and complying with specific regulations set by the Junta de Andalucía. In this article, we explain the requirements, associated responsibilities, and how Welex, lawyers and accountants in Marbella, can assist you.
Definitive guide for Inheritance Tax in Andalusia | WELEX
Although our law firm in Marbella does not wish to give our readers false expectations, we pretend to solve in the below mentioned text doubts that Inheritance Tax in Andalusia may entail. However, its a [...]
Non-Resident Tax Over a Property in Spain: A Complete Guide
Non-resident property owners in Spain must pay taxes like Property Tax (IBI), Non-Resident Income Tax (IRNR), and Wealth Tax. Staying compliant with deadlines is crucial to avoid penalties. Welex, a tax adviser in Marbella, ensures correct filings for non-residents, helping you avoid fines and legal issues.
Anti-Money Laundering in Spain: Why Do Developers Request So Much Information?
At Welex, many clients ask why property developers in Spain request extensive personal information. This is due to Law 10/2010, which aims to prevent money laundering and terrorism financing. Developers are required to verify the source of funds used in property transactions by collecting documents through a Know Your Client (KYC) form.
Social Media