Bitcoin exchanges now exempt from VAT tax in Spain

TweetSpain’s General Directorate of Taxes (Dirección General de Tributos DGT) has announced it will treat all virtual currencies such as Bitcoin as financial payment methods and thus will be exempt from the VAT rate of 21%. Previously treated as a commodity, Bitcoin users were often taxed twice for purchases using the crypto-currency, however now the […]


Spain leads EU’s SME Initiative for cheaper credit worth €3.2 billion

TweetSpain is the first EU country to sign up to the ‘SME initiative’ offering €3.2 billion worth of cheaper loans to Small and Medium sized Enterprises (SMEs). Companies with less than 250 employees will be able to take advantage of this new loan in the coming few months – likely to be available by Summer […]

Crowdfunding in Spain officially under regulation

TweetSpain’s Minister of economy and competitiveness, Luis de Guindos, has introduced new legislation making Spain one of the first countries to regulate the crowdfunding sector, imposing restrictions on how much non-professional investors can invest. Crowdfunding in Spain Crowdfunding for new projects and startups has been incredibly popular in Spain as an alternative to bank credit, […]

Free WIFI supplier Gowex faces bankruptcy and false account charges

TweetFormer Spanish technology darling Gowex has filed for bankruptcy, frozen existing contracts and dismissed founder and former CEO Jenaro Garcia Martin who is being charged with falsifying accounts for at least the past 4 years, distorting financial and economic information, and insider trading. Gowex, Free WIFI provider for major cities (Madrid, New York, Paris and […]

Barclays moving Spanish business to Non-Core

TweetAfter months of rumours, it’s now official, Barclays are moving their Spanish subsidiary to Barclays Non-Core, a basket of assets worth €140 million not focusing on core activity, that is: personal and corporate banking, credit cards, investment banking or Africa banking. Barclays are reducing their retail banking operations by cutting 14,000 jobs this year worldwide […]