Tax news Covid -19, Spain

In the following Newsletter you can find the tax reforms currently planned by the Spanish Goverment.

On January 2020 will come into force a new regulation regarding the harmonization of the conditions to consider that the intra-community transport will be exempt to pay VAT.

Recently, the Spanish Court has resolved on the possibility of proving a business expense through a ticket instead of with an invoice.

We want to explain the consequences of the company car in the employee’s income tax.

Attached link of the article, recently published in the newspaper Valencia Plaza, by the partner of our Tax Department, Vicente Graullera, in relation to the elimination of the Spanish Inheritance Tax.

https://valenciaplaza.com/que-eliminen-ya-el-impuesto-sobre-sucesiones

The Spanish General Directorate of Taxes (GDT) has just resolved with respect to the computation of the equity in companies subject to the consolidation tax regimen, for the purposes of calculating the capitalization reserve benefit.

The EU Commission requested Spain to amend the disproportionate sanction regimes. However, up to this date, Spanish Tax Authorities have not modified any aspect of Model 720 per the EC’s recommendations and have continued to strictly apply Model 720 and its penalties.

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