The main purpose of tax planning is to legally reduce or defer the amount of payable tax and use that money to generate income and adjust cash flow. Consistent and proper planning can save or delay payment of many of the taxes you pay: value-added, profits, or personal income. Proper preparation and consistent execution generally…
The tax advisor acts as an expert in all tax issues, ensures complete bookkeeping, is responsible for payroll accounting, prepares the annual financial statements and is an important sparring partner for start-ups and the self-employed, especially at the beginning. While a good tax consultant can save the company a lot of money by optimising, a…
The Sánchez government has adopted a limited financial transaction tax. At the cabinet meeting in February, the coalition of the socialist PSOE and the left-wing alternative Unidas Podemos decided to introduce a Tobin tax on share purchases and sales. The financial transaction tax got approved in June. According to current estimates, the state expects this…
These measures aim to avoid both so-called legal and financial double taxation. Legal double taxation occurs when the income of a single taxpayer is taxed in two different countries. Financial double taxation occurs when the same income is taxed by two different taxpayers in two different countries(international double taxation) or in the same country (national…
Beckham Law is the tax for non-residents that apply only to income earned in Spain, not to world income. This option applies to the year of resettlement and the 5 following years, provided a number of other conditions are met. This law intends to attract highly skilled professionals from abroad through tax benefits. In this…
Transfer pricing comes into play for transactions within multinational companies. Transfer prices are the prices charged for intra-group transactions (e.g. supplies of goods and services) between individual affiliated enterprises established in different countries. Since the prices are set by dependent partners within the group, it is, of course, possible that these prices do not reflect…
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