Measures to Avoid the Tax Fraud
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Measures to Avoid the Tax Fraud

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Corporate Tax (IS)

  • Exit tax: payment in 5 yearly instalments
  • Special tax rate 15% for SOCIMIS
  • Tax rate 1% for SICAVs: more difficult to meet the requirements
  • New income to declare for Non-residents and Permanent Establishment: income from leasings and insurances are included.

Personal Income Tax (IRPF)

  • Reduction 60% real estate income: only applicable to income declared in your declaration.
  • ‘Pactos Sucesorios’: Benefit generated from the time of acquisition of the deceased and its time of death or exercise of the ‘pacto sucesorio’ should be declared as a capital gain as well.
  • ETF regulation homogenization: the investors in foreign ETFs can not be benefited from the reinvestment regime (“régimen de traspasos”)

Inheritance and Gift Tax(ISD)

  • Valuation real estate: “reference value”
  • Regional (“Comunidades Autónomas”) tax rules are extended to non-residents in the EU

Wealth Tax (IP)

  • Valuation of real estate: the value “determined” by the Authorities 
  • Life insurance: they are included in the declaration even if the policyholder does not have the right to redemption

Property transfer tax and Stamp duty (ITPAJD)

  • Valuation of real estate: “reference value”
  • Purchase of gold or jewellery to individuals: not subject to tax when the transferor is a professional in the exercise of his/her professional activity.

Tax on Economic Activities(IAE)

  • Exemption:
    •  It clarifies that it also applies to non-resident natural persons.
    •  Group of entities according to article 42 of Commercial Code: the €1M limit takes the net amount turnover of the group “regardless of the accounting consolidation obligation”

General Tax Law (LGT)

  • Late filing surcharge: they are reduced

Regularisation= R 

Now

After
R < 1 month 5 1
1 < R < 2 months 5 2
2 < R < 3 months 5 3
3 < R < 4 months 10 4
4 < R < 5 months 10 5
5 < R < 6 months 10 6
6 < R < 7 months 15 7
7 < R < 8 months 15 8
8 < R < 9 months 15 9
9 < R < 10 months 15 10
10 < R < 11 months 15 11
11 < R < 12 months 15 12

R > 12 months

 20 + i 15 + i

There is NO SURCHARGE if all the following requirements are met:

  • No sanction
  • Payment of the amount due
  • <= 6 months
  • No rectification or appeal is submitted

(…)

  • Sanctions: the reductions on sanctions are increased
    • By minutes with the agreement: from 50% to 65%
    • By prompt payment: from 25% to 40%
    • By compliance: remains at 30%
  • The period to initiate a sanctioning procedure by the Tax Authorities is extended from 3 to 6 months

Others

  • Form 720: a new category “virtual currency” is added
  • Cash payment: the limit goes from €2,500 to €1,000
  • Tax heaven concept: now it is “non-cooperative jurisdiction”
  • Catastro: they will submit a provisional “reference value” before October the 30th and the final one during the first 20 days of December
  • Suspension of covid deadlines: the change affects the “prescripción” periods.