Newspaper article publicized in Spain’s most important newspaper for economic and financial issues “Expansion” about the demand presented by our fiscal advisor Alejandro del Campo before the European Commission against the obligation for residents in Spain to inform about all their worldwide assets. We hope that with this demand Spain will be forced to abolish [...]
DMS Consulting reports Spain before the European Commission for attacking the free movement of people and goods
The legislation in question by DMS Consulting obliges the resident taxpayers in Spain to present Informative Statements over assets and rights abroad (Application 720), an obligation in addition to the duty of paying tax on them. According to DMS Consulting, the legislation is incompatible with the Community Law as it presents an important restriction to [...]
NEW IMPORTANT OBLIGATION OF THE RESIDENTS IN SPAIN: TO INFORM ABOUT ALL KINDS OF ASSETS AND RIGHTS THEY HAVE ABROAD.
An obligation for 2012, with serious consequences if not carried out. Any person, residing in Spain, who is a titleholder of assets and rights located abroad (bank accounts, values, real estate, insurance, etc.) must give very detailed information about the same to the Spanish Treasury, presenting an informative declaration during the first quarter of the [...]
SELLING PROPERTIES, BEFORE THE BANK TAKES THEM AWAY. IS IT A CRIME?
Selling properties or any other goods, having a pendant debt can be a crime, which might imply prison for up to 4 years. Therefore, one must be careful. However, selling properties or other goods before a legal procedure is started, resulting from what is owed, is not always a crime. When is it a [...]
COPY PLEASE! (COPYLEFT) ; )
Some time ago we have created a blog where the lawyers, tax advisors and economists from DMS- Consulting frequently publish news and reports about every legal subject (labor law, administrative law, tax law, civil law, criminal law etc.) and accounting: (http://www. consultingdms. com) Following the line of COPYLEFT, which goes back to the idea of [...]
TAXATION of REAL ESTATE INVESTMENT in SPAIN by non-residents
TAX OBLIGATIONS FOR REAL ESTATE PURCHASE BY NON-RESIDENTS IN SPAIN a) The SELLER IS A PRIVATE INDIVIDUAL The buyer must pay to the Balearic Treasury the PROPERTY TRANSFER TAX (ITP) on a scale of 7 to 10% of the value of the propert. On our web page www.consultingdms.com you can find a TOOL FOR AUTOMATIC [...]