RULING No. 242/2018 OF 19/2/2018 HAS IMPORTANT CONSEQUENCES FOR TRANSFER AND GIFT TAX … AND FOR FORM 720! The Court of Justice of the European Union Ruling of 3/9/2014, Case C-127/12, ruled against Spain because the regulations of the Transfer and Gift Tax in force until then did not allow the application, in inheritance and [...]
We have started 2018 without Property Tax in Spain, as there is a full tax relief. We do have to pay the Tax for 2017 (tax returns can be filed till the end of June 2018) because Royal Decree-Act 3/2016, of 2 December (Official State Gazette, BOE, of 3/12/2016), eliminated that tax relief for 2017, [...]
For those residents in the Balearic Islands, who are considering to plan their succession, we offer a complete service including all tax and legal aspects as well as the execution of all necessary steps. The following points should be taken into consideration: The new EU regulation for inheritances comes along with significant changes. Formerly the [...]
(DESPITE THE UK OPTED-OUT OF THE NEW EUROPEAN INHERITANCE REGULATION) It’s absolutely advisable for UK nationals residing in Spain to determine by a last will that the Nationality Law has to be applied in their inheritances in order to avoid that those will be ruled by Spanish regulation. 1.- THE NEW AND REVOLUTIONARY EUROPEAN [...]
Now, for most of the persons who plans to acquire real estate in Spain, being non-resident in this country, the most convenient and simple way is to purchase as individuals and not through Spanish or foreign companies. In this way, in case of sale, will pay for the non-resident Income Tax to 19% on the possible equity gain, compared to 25% that [...]
TAXES PAYABLE IN SPAIN BY NON-RESIDENTS WITH PROPERTY FOR THEIR OWN USE AND/OR RENTED In addition to the annual REAL ESTATE TAX to be paid to the relevant City Hall, the non-residents who are owners of real estate in Spain must be very attentive to two other taxes to pay to the State Treasury: - Income Tax - Wealth Tax INCOME TAX PROPERTY EXCLUSIVELY FOR [...]
DMS CONSULTING mentioned in the WALL STREET JOURNAL (subscription needed). The prestigious Wall Street Journal mentions DMS Consulting in its article about the European High Court ruling against Spain for the discriminations of non residents on the taxation of inheritances and donations. We are extremely proud that the labour and monitoring of those important issues [...]
- NO WIN NO FEES - The European High Court has rueld in his seminal judgement of 03/09/2015 that the current Spanish legislation on the taxation of inheritances and donations is not compliant to European law because it discriminates the Non Residents in Spain (as they are forced to pay up to 34% even within [...]
The judgment of the Tribunal of Justice of the European Union on the 3rd September declared that the Spanish regulation on Inheritance and Gift Tax is contrary to community Law, since it allows that on inheritance and gifts with non-residents, the tax payable be very much higher than that paid by residents, which is in [...]
The European Court of Justice´s decision from the 3/9/2014 (case C-127/12) is very important for various reasons: - As it ends with the discrimination of the non-residents, where they were paying more Inheritance and Gift Tax in Spain, than the residents, - As it may also affect inheritances and donations with third countries (and not [...]
