Special 3% Tax for non resident companies in Spain.
The Spanish law firm, Arcos & Lamers Asociados would like to line out an amendment on Spanish Tax law with regards to foreign companies that do hold property/ies inSpain.
The entities, not resident and with-out a permanent settlement in Spain, that are owners of a real estate property in Spain, are subject to the Special 3% Tax for non resident companies, which is due on the 31st of December each year, and to be settled during the month of January of the following year. Read more »
Half of Spain’s youth are unemployed, and yet at the Wayra business start-up project on Madrid’s majestic Gran Via avenue, young people buzz around an office chatting animatedly, typing furiously and holding up trails of wire and computer parts. These are Spain’s technology entrepreneurs, and they’re positive about the future – even as Prime Minister Mariano Rajoy tries to avert a full international rescue for a country beset by recession, a property market collapse and a banking crisis.
Almost all plan to expand beyond Spain’s borders, if they aren’t operating internationally already. For domestic and foreign investors in their ventures, the dire state of the nation can even be an advantage: put bluntly, young Spanish entrepreneurs come cheaper than their U.S. and British rivals. “There is no crisis. The crisis is outside. But here what we have is people working, setting up companies and creating employment,” said Gonzalo Martin-Villa, global head of Wayra. Read more »
“Jugaad” is a Hindi word that loosely translates as “the gutsy art of overcoming harsh constraints by improvising an effective solution using limited resources.” It’s a unique approach to innovation and it’s how entrepreneurs are driving exponential growth in emerging markets like India, China, Brazil and Africa.
Jugaad is an antidote to the complexity that characterize emerging markets, with all their mind-blogging diversity, pervasive scarcity of all kinds, and exploding interconnectivity. Consider that India alone adds 10 million cellphone subscribers each month.
This highly resource-constrained and chaotic environment in emerging markets motivates local entrepreneurs to practice the art of jugaad to create products and services that are extremely affordable and highly sustainable. Read more »
BBVA, Spain’s second-largest bank, said Tuesday it plans to accelerate the sale of property on its books acquired through foreclosures and foreclosures in lieu in order to clear such assets from its books by the start of 2014.
“The period we estimate for selling \[these assets\] is between 18 and 21 months,” BBVA Chief Operating Officer Ángel Cano said at a presentation of the bank’s earnings for the first six months of the year. Cano said the bank had sold 2,500 property units in the first half of this year, an increase of 40 percent over the same period a year earlier. Read more »
The average number of contributors to the Spanish Social Security system increased by 4,896 in July, raising the total figure to 17,032,738. Tomás Burgos stressed that “the outlook for the Spanish economy remains far from a clear recovery, and that is reflected in sluggish contributor figures for July”.
In month-on-month terms, the General Regime grew by 112,004 contributors (up 0.81% on June) to an average total of 13,875,453. Read more »
The data provided by the Public Employment Services of all the autonomous regions for the month of July show that unemployment has fallen by 27,814 on the previous month (-0.6%). Total recorded unemployment now stands at 4,587,455.
Recorded unemployment fell in the construction sector by 14,792 (-1.9%), the number of first-time job-seekers fell by 10,448 (-2.65%) and recorded unemployment fell in the industrial sector by 7,448 (-1.41%). On the other hand, recorded unemployment increased in the agricultural sector by 3,373 (2.09%) and in the service sector by 1,501 (0.05%). Read more »
The history of Sotogrande, San Roque‘s world-famous and exclusive residential area. Considered to be the best private resort in Europe and a real paradise location for people who seek tranquility, quality of life and sport activities related to leisure and tourism. Read more »
The Banco de España as we know it today was founded in the late 18th century. Since then it has witnessed, and occasionally taken a leading role in, political, economic and social developments in Spain.
The following are some of the landmark events in its history: Read more »
In the first five months of 2012, the trade deficit fell by 20.9% year-on-year to 15.94 billion euros and trade exports increased by 3%. A non-energy surplus of 1.56 billion euros was recorded in May, the highest since 1995.
The energy deficit increased by 16% while a non-energy surplus of 3.87 billion euros was recorded. The rate of coverage (percentage of imports that can be covered by exports made in the same period) stood at 85.1%, 3.7% higher than in the first five months of 2011.
In this period, Spain exported goods worth a total of 91.11 billion euros, up 3% on the first five months of 2011. This figure points towards a consolidation, even a certain improvement, on the exports recorded in 2011 versus those in 2010. In turn, Spanish imports decreased by 1.4% year-on-year to a total of 107.05 billion euros. Read more »
EXPATS are being warned they could be hit with hidden taxes when legalising undeclared assets as part of an amnesty.
Under the terms of the Spanish government initiative, individuals and businesses will be required to pay 10 per cent of the value of their assets or cash.
But one Costa del Sol-based legal firm is warning Britons they could be subject to additional charges on certain possessions, which must be declared by November 30. Read more »
