{{vm.newUser2}} Spain: Tax relief for companies, coronavirus Tax relief measures in response to the coronavirus (COVID-19) pandemic include extensions or suspensions of the deadlines for certain tax procedures to 30 April 2020 or 20 May 2020.

When there is more than one country involved, tax planning requires a level of expertise that few firms can offer. Generally exempt, except where the transaction is aimed at avoiding taxes.

All rights reserved. Personal Taxes (residents and non-residents)

Well, it turns out that from then on, in October, December, and April, you will have to anticipate what your business tax is supposed to be for the next fiscal year. When entities are included in a tax group, the abovementioned limits apply to the taxable base of the group, considered as a whole.

We will explore it later on.

the accrual of the tax). However, at a general level, Firstly, and perhaps most interestingly if you are, We recommend that you send us an e-mail to.

Tax credits regulated in CIT law to promote certain activities could be applied, as a general rule, up to a maximum amount of 25 percent of the tax liability. An annual immovable property tax (Impuesto sobre Bienes Inmuebles, IBI) is levied by the municipal authorities. Find one in our Spanish directory, Read more in our guide to social security in Spain. This is a very basic and simple example to demonstrate that you can structure your activity in certain ways to save taxes. However, in the case of large companies (with a turnover in excess of EUR 20 million), this would not be possible: they have a limitation on loss compensation.

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Personal Taxes (residents and non-residents).

This is because the association lacks a legal personality and isn’t a commercial company.

Agencia Tributaria Spain's tax agency Other rates can apply for special entities. The company tax rate for Spain is 25%. The Corporate Tax Rate in Spain stands at 25 percent. It can be whatever the company decides.

Other activities, such as investment funds or sicav, they enjoy a reduced rate of 1%. And it depends on each individual case. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. © 2020 KPMG International Cooperative (“KPMG International”), a Swiss entity.

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This tax rate does not apply to equity companies (i.e., companies that do not carry on business activity) or to newly created companies that are part of a national or international group. your customer’s country. There are different kinds of business partnerships in Spain. And it can be as simple as investing in the creation of an app or website. You can do all this online through the Agencia Tributaria. If the company is for-profit, the rate will range from 15 to 30%.

Whatever the situation, you will find the answer in this guide. discounted cash flow) that are now allowed.

After 24 months it reverts to the standard rate. On the other hand, there are certain expenses and investments that you can deduct, and that undoubtedly makes this option attractive. Here you will find all the information you need to understand once and for all how corporate tax works in Spain. The main advantage of the corporate tax is that it is not progressive. Federico Richardson is a lawyer experienced in dealing with international clients interested in doing business in Spain especially in corporate and real estate sectors. Unlike income tax, the corporate tax does not have a closed tax period. Thank you for your understanding.

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