Latest News

Accounting | Tax | HR | Legal

Hiring incentives in Spain

For many companies in Spain, it is important to ensure that the budget is able to accommodate the cost of the new employee upon his/her recruitment into the workforce. This means that the recruitment of the new employee, fundamental though it may be for the company, is often delayed. On this basis, whenever a new employee is recruited into the workforce, it is important to bear in mind the many hiring incentives in Spain that currently exist as they may enable the company to make significant savings.

read more

Paid leave in Spain

Employees often enquire about whether they are entitled to leave from work for one reason or another and one may be unsure if they are entitled to the leave on the requested grounds. Legislation provides that all employees in Spain are entitled to leave from their place of work on justified grounds and for a fixed period of time, with a right to pay (paid leave in Spain).

read more

Reduced VAT for electronic publications

The Council of the European Union has adopted Directive (EU) 2018/1713 of the COUNCIL, of 6 November 2018 (OJ of 14 November), regarding the rates of value added tax applied to books, newspapers and periodicals, which helps align the VAT rules applicable to e-publications with the rate applicable to publications supplied on physical means of support. As of now, Member States have the possibility of also applying reduced, super-reduced or zero rates to electronic publications (reduced VAT for electronic publications).

read more

Form 720

Form 720 – Declaration on Assets and Rights Held Abroad – is a fiscal obligation of an informative nature that requires information on financial assets and rights held or managed abroad to be submitted.

read more

Form 202: payments on account of Corporation Tax in Spain

The rules and grounds of Tax Form 202 established in Royal Decree 634/2015 of 10 July, approving the Regulations of Corporation Tax. The Tax Form 202 is used to make payments on account of the Corporation Tax in Spain for both natural and legal persons, whether they are residents or not, provided they have a permanent establishment in national territory.

read more

Form 720 in Spain

Form 720 in Spain – Informative Return on Assets and Rights Held Abroad – is a fiscal obligation of an informative nature that requires figures and data on financial assets and rights held or managed abroad to be declared. Natural persons and entities domiciled in the Spanish state are obliged to submit this information return.

read more

Particular case: intra-Community triangular operations

Intra-Community triangular operations (ITO) are performed among three companies located in three different countries. Thus, Company B (intermediary, Country 2) purchases goods from Company A (supplier, Country 1), to be in turn resold to Company C (final customer, Country 3), so that the product will be transported directly from the country of the supplier to that of the final customer, without entering the country of Company B.

read more