Nowadays the sale of a property is covered with a great documentary and technical complexity. Indeed, when dealing with operations of high economic and vital relevance, there are many constraints that should be considered. Therefore, if you plan to sell a property you should have prepared the following documentation. PROPERTY REGISTER EXTRACT Firstly, it [...]
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 [...]
Aware of our international environment DMS Consulting was founded with the a clear emphasis on international and especially European issues. We have now once again deepened in this line. Our partner Miquel A. Mas i Colom has assumed the presidency of ILAS (International Legal Accounting Solutions). As a consequence, DMS Consulting with our partners Alejandro [...]
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, [...]
Spouse’s express approval necessary when selling the family residence. The Balearic Civil Code Depending on the region, Spain has different civil rights systems (Navarra, Basque, Galicia, Catalonia and the Balearic Islands). This means that the Balearic Islands have their own civil law regulating the relations between the citizens living here. What is the [...]
Primary and brief practical approach to the civil law aspects (Preliminary draft law amending the 8/2012 Law, of July 19, relating to tourism in the Balearic Islands, concerning the marketing of tourist accommodation) 0.- IS IT APPLICABLE NOW? No. It is only a preliminary draft that must be approved by the Governing Council and [...]
In line with our strong commitment to the new technologies and innovative communication channels we have recently made a strong effort to improve our internet performance. According to the analysis of our website traffic, we would be completely justified in stating that this endeavor is bearing fruits: the number of visits to our website has [...]
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 [...]
