YOUR SPANISH PROPERTIES: BREXIT- PANDEMIC & THE NEW NORM FOR NON-RESIDENTS IN SPAIN PARTICULARLY: TAXATION FOR NON-RESIDENTS, INHERITANCES AND GIFTS TO YOUR RELATIVES
Due to the Covid-19 pandemic and its serious effects on our national economy, the Spanish Government has on several occasions announced that current rules governing payment of taxes will probably change, which will obviously involve an increase in the inheritance tax, gift tax and other taxes. This has caused many residents and non-residents […]
SEASONAL RENTALS VS. TOURIST DWELLINGS EXPLOITATION
ANDALUCIA SEASONAL RENTAL OF DWELLINGS VS. OPERATION OF DWELLINGS FOR TOURISM PURPOSES The legal rules governing tourism in Spain fall within the competence of the Administration of the ‘Autonomous Communities’ or Regions of Spain as opposed to that of the central State Government, which means that different regulations exist in each such Region. Following […]
SIGNIFICANT INCREASE IN HOME SALES TO BRITISH CITIZENS IN SPAIN
Many factors are contributing to an important increase in housing purchases by British citizens in Spain, including the following: PRICES ARE STILL RELATIVELY LOW House prices are still relatively low compared to the period before the economic crisis. MORTGAGE MARKET OPENING During the economic crisis, and specifically during the correlative banking crisis, banks and saving […]
INHERITANCE OF BRITISH AND IRISH CITIZENS WITH PROPERTY IN SPAIN
Regulation (EU) No 650/2012 on jurisdiction, applicable law, recognition and enforcement of decisions and acceptance and enforcement of authentic instruments in matters of succession mortis causa shall be fully and entirely applicable in all European countries as from the 17th August 2015 except in the United Kingdom of Great Britain and Northern Ireland and in […]
TERRITORIES NO LONGER CONSIDERED TAX HAVENS BY THE SPANISH AUTHORITIES.
Published in 1991, Royal Decree 1080/1991 listed the countries or territories considered “tax havens” by Spain. The inclusion of a territory in this list did involve, in principle, a number of fiscal disadvantages and control measures relating to “tax fraud” or specific taxes on transactions affecting Spain. Later on, the introduction of new, stricter money laundering […]
THE STRUCTURE: Offshore Co. owns a Spanish Co. which in turn owns a Spanish Property:: HOW NOT TO AVOID PAYMENTS OF TAXES AND LIABILITIES.
Over 30 years ago, advertisements were published in Spain which basically said that the best option to buy a property in Spain was to do it through a offshore company, as payment of transfer tax, inheritance tax etc would thus be avoided in future. Advertisements were published at the time in Spanish newspaper of the […]
Additional notes: NON-RESIDENTS INHERITANCE AND GIFT TAX REFUNDS.
The recent Judgement of the Court of Justice of the EU against Spain dated 3rd September 2014, which admitted the existence of discrimination against non-residents in relation to the differential treatment of residents and non-residents in Spain with regard to the aforementioned Tax, continues to give rise to numerous comments and analyses, particularly in terms […]
REFUND OF AMOUNTS PAID BY NON-RESIDENTS AS INHERITANCE AND GIFT TAX IN SPAIN
GROUNDS, POSSIBILITIES, AMOUNTS AND LIMITATIONS OF THE REFUND As reported in this Blog on the day it was issued, a Judgement rendered by the ECJ (EU’s Supreme Court) on September 3rd, 2014, stated that the Kingdom of Spain had in establishing differences between the fiscal treatment of inheritances and gifts in Spain for residents and […]
LATEST NEWS!: ECJ ISSUES JUDGEMENT AGAINST SPAIN FOR DISCRIMINATION AGAINST “NON-RESIDENTS”IN ITS APPLICATION OF INHERITANCE AND GIFT TAX.
We recently published our latest article dated September 1st on the possibility of a Judgement being issued shortly whereby Spain would be found guilty of “discrimination” as a result of its different application of the Inheritance and Gift Tax depending on whether the taxpayer is a “resident” or a “non-resident” who owns property in Spain. Well, such a Judgement for […]