Spanish restaurant ticket: tax benefits and how to get them

expertos-en, Tax deductibility

In a previous post, we explained that, a full invoice in which the purchaser is identified, is the primary mean of proof in order to qualify a relevant expense as tax deductible. If your Company only keeps simplified invoices, it is recommendable to ask the supplier...

How to reduce taxable income and save for your retirement fund

expertos-en, Tax deductibility

Please keep in mind that the profitability of your pension scheme will be highly influenced by the tax bill when claiming your pension. Consequently, you should plan it well in advance. Pension plan contributions reduce your individual taxable income. They are subject...

Portfolio Impairment Losses – Mandatory Reversion

expertos-en, Tax deductibility

The Royal Decree 3 / 2016 has been passed with the aim of achieving an increase of tax collection which allows meeting the commitments to fiscal consolidation agreed by Spain with the EU. The Mandatory Reversion of Portfolio Impairment Losses   Spanish Royal...

Spanish tax credits for charity support

expertos-en, Tax deductibility

Note that the rates applying for these tax credits are higher than the standard 25% Corporate income tax rate which levies the donor’s taxable income. In the absence of tax profits, corporations may carry forward unused charitable donation tax credits during a period...

Late payment interest and Tax Deductibility – PBS

expertos-en, Tax deductibility

The Spanish General Directorate of Taxes (GDT), in its binding resolution V4080-15, of Dec. 21, 2015, has recognised the tax deductibility of late payment interest given their compensatory nature for the non payment of a tax debt within the legal term. While the...

Spanish goodwill tax deduction: an opportunity that you cannot miss

expertos-en, Tax deductibility

from the Corporate income tax result, even though goodwill cannot be amortized under Spanish Gaap. The Spanish tax reform that has entered into force as of Jan. 01, 2015, has maintained this tax allowance for goodwill generated as a consequence of an asset deal. It...