The controversy on the tax deduction of Directors fees is back
In a recent resolution of 17 July 2020, the Spanish Central Court (TEAC) has retaken again the issue about the tax deduction of Directors fees. In its resolution, the TEAC has resolved that, if the formalities required in the Commercial Law regulations are not...
Spanish Patent Box: a tax relief to promote innovation activities
Spanish Corporate income tax regulations permit the application of a partial exemption on income deriving from the lease or sale of qualifying intangible assets. This scheme is commonly known as “Patent box”. This tax incentive aims at stimulating...
Spanish accounting of Social security reliefs in ERTE situations
In a recent resolution, the Spanish Accounting and Audit Institute (ICAC – Nº 1 BOICAC 122 / June 2020) resolves on the accounting treatment of the costs to be assumed by companies in Temporary Employee Redundancy schemes (“ERTE”) in which they can significantly...
The Spanish General Directorate of Taxes reminds us of the Personal income tax – exempt telework allowances
The amounts paid by employers to compensate normal lodging expenses (living and accommodation) in restaurant, hotels and other hospitality establishments are exempt from Spanish Personal income tax and, hence, are not subject to Payroll withholding tax when, between...