In 2015 the European Union introduced regulations enabling EU citizens living in Spain to nominate their home laws or Spanish laws to apply to their estate. It refers to the inheritance tax in Spain as well.
The increase in personal electronic data in Spain necessitates tax authorities to improve the processes of protecting taxpayer’s interest in their personal data and right to access it.
Law 39/2015 of the Common Administrative Procedure of Public Administration regulates electronic notifications in Spain.
Corporate tax in Spain: General State Budget Law 2018 introduces reduction of income for intangible assets, tax credits for investments in entertainment productions, auditing powers and more.
Transfer of Assets Tax in Spain (ITP) is paid when a person acquires property. It is payable to the Autonomous Community where the property is located. Each Autonomous Community sets their own tax rates and provides fiscal valuations for property, but the actual property value can be declared.
Spain´s strong property market makes it a good destination for property investors and expatriates. There are a series of steps to be taken when buying property in Spain as a foreigner as well as several costs associated with property purchases which merit consideration.