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For foreign companies planning to operate in Spain, obtaining a non-resident NIF is the first essential step. This number, known as the Tax Identification Number (NIF), allows businesses to meet their tax obligations in the country without the need to establish a Spanish company. If your business intends to carry out VAT-subject activities, the NIF
With the beginning of 2025, businesses are entering a critical phase of their planning. January is a key month for tax submissions and numerous accounting tasks. Moreover, companies whose financial year aligns with the calendar year and ended in December must now also start working on their financial and tax year-end closing. This process is
On 26th December 2024, the Spanish Council of Ministers approved a Royal Decree-Law introducing significant improvements in the regulation of active retirement, partial retirement, and deferred retirement, among other measures. These reforms, resulting from the agreement reached at the Social Security and Pensions Social Dialogue Table in July 2024, aim to provide more flexible and
In November, the draft Law on Corporate Sustainability Reporting was published in the Official Bulletin of the General Courts (BOE), marking a turning point in the reporting obligations of companies in Spain. This new legislation amends the Commercial Code, the Companies Act, and the Audit Law, introducing a unique European framework for the preparation of
Recently, the Supreme Court has amended its ruling on disciplinary dismissals, establishing that a preliminary hearing is now mandatory in these cases. This decision represents a significant change for businesses, as failing to provide this right could render a disciplinary dismissal unfair. According to this new interpretation, employers must give employees the opportunity to defend
With the final weeks of the year approaching, taxpayers have a key opportunity to optimise their tax situation and reduce their tax liability on the following year’s income tax return. For this reason, the Spanish Association of Tax Advisors (AEDAF) reminds us that during this period, there are various strategies available to adjust the taxable
The tax management of companies is becoming increasingly complex, especially when it comes to related-party transactions. Recently, the Central Economic-Administrative Court (TEAC) has issued a key ruling that changes the tax treatment of services provided by directors on behalf of related companies. This ruling not only introduces new requirements but also forces companies to rethink
At the beginning of 2025, Social Security in Spain will introduce a new solidarity contribution. This change will entail an additional contribution for incomes that exceed the maximum annual contribution base, which for 2024 is set at €4,720.50 per month. This new contribution will only apply to the portion of the monthly salary that exceeds
In family businesses, business succession is a critical issue that requires long-term planning and vision. As entrepreneurs face the challenge of passing on their businesses to the next generation, a common option is to make a living gift of part of their assets. However, while this can facilitate business continuity, it is essential to take
There are currently more than 10,000 registered foundations in Spain, which has grown steadily in recent years, reflecting an increase in society’s commitment to social, educational, cultural, and research causes. These entities play a crucial role, channelling resources and efforts for the benefit of the community. However, effective management and compliance with their legal and
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