Are you thinking of buying a property in Andalusia? Good news! The Andalusian Tax Government has approved a reduction in the Transfer Tax to be paid at a flat rate of 7%! What is the Transfer Tax? When you purchase a property in Spain, you are liable to pay a transfer tax for both… Read more »
Posts By: Rafael Guerrero
What is Form 720 (Modelo 720) ?
What is Form 720 (Modelo 720)? Form 720 is an informative declaration on offshore assets and rights located outside Spain. According to current regulations, Form 720 submission is requested in order to comply with the following objectives: -Inform the Spanish administration about the offshore real estate and existing rights over them. -In relation to the… Read more »
What are the consequences of Brexit on the Non-Resident Tax, in the case of income obtained by individuals without a permanent establishment in Spain?
This tax affects income obtained in the Spanish territory by non-resident taxpayers, both individuals and entities (article 1 of Spanish Non-Resident Taxation Law). However, in this article we will just focus on individuals. The following exemptions will no longer apply: Interest and capital gains derived from movable property obtained by residents of another Member… Read more »