Author: sescandell71f202ba91
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The 3% withholding in property sales when the seller is non-resident
In Spain, non-resident property sellers must adhere to a mandatory 3% withholding on the sale price, which the buyer retains and submits to the Tax Authorities. This serves as an advance on the capital gains tax, addressing the risk that sellers may leave Spain with the proceeds. Although it burdens the seller, the payment responsibility…
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Benefit of Inventory: advantages and disadvantages when accepting an inheritance
The benefit of inventory offers distinct advantages and disadvantages for heirs accepting an inheritance. Key benefits include protecting personal assets from deceased debts, safeguarding against unknown claims from creditors, and ensuring greater control through detailed asset documentation. However, this option involves formal procedures, strict legal deadlines, and the necessity for specialized legal guidance to avoid…
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Tourist rentals in the Valencian Community
In the Valencian Community, tourist rentals face stringent regulations after a freeze on new licences and stricter homeowner association rules. The Royal Decree 1312/2024 governs short-term rentals, defining them as stays of 10 days or fewer. Owners must register for temporary rentals exceeding 11 days, with ongoing licensing challenges.
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How to set up an association in Spain?
Associations are non-profit organizations that serve various purposes, such as helping animals or sick children. To establish one in Spain, at least three members and certain documents are required, such as the founding charter and bylaws. It is essential to comply with the legal requirements established for their creation.
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Benefit of Inventory in Spain: what it is and when it makes sense to accept an inheritance?
What is accepting an inheritance with benefit of inventory in Spain and when is it convenient?
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Where should you pay tax on an international inheritance?
If an inheritance has elements in different countries, one of the most common questions is: Where should I pay tax on the inheritance? Spanish law does provide answers, but they are not always intuitive. Many problems arise from applying the wrong criteria without looking at what the law actually says. The first thing you need…
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Non-resident income tax for companies
With and without permanent establishment Non-resident income tax (IRNR) is not only a tax payable by individuals who are not resident in Spain, but also by companies. The basis is similar: only if a company has economic interests in Spain – i.e. receives income in Spain – will it be subject to filing and paying…
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Administrative silence and its effects
Administrative silence is a principle and concept that is of particular interest to taxpayers when they submit a letter or application to a public administration body in order to mitigate the endless waits involved in administrative procedures. Administrative silence is intended to be a tool for the taxpayer’s legal certainty, whether this silence is positive…