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 […]

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How to reduce your taxes in Spain by donating to charity

Tweet The Spanish Fundraising Association claims that 20% of Spanish residents give to charity, with almost 3.6 million regular donors, contributing €489 million in 2014 in Spain. Far from the Spanish Third Sectors’ hay day of €825 million donations in 2007, the reduction in charitable contributions can be blamed on tough socio-economic factors causing: individual […]

US Expats – Tax Filing Deadlines for 2015

Tweet As US Expats, it´s important to take note of the typical deadlines which may be slightly different each year. Mark your calendar in advance of those deadlines and forward the needed information to your tax advisor by these dates. Deadlines April 15, 2015 – US tax filing deadline and due date for all taxes liabilities […]

How much IRPF and IVA should I be paying as a freelance worker in Spain?

TweetQ. How much IRPF and IVA should I be paying as a freelance worker in Spain? A. The IRPF (Impuesto sobre la Renta de las Personas Fisicas) is a progressive, direct income tax which is paid by your client as a withholding tax directly to the Spanish tax office (find out more here). Currently, freelance workers […]

How to reduce your US taxes

Tweet I hear it and read it so often: The US tax law is ‘convoluted, unclear, full of double negatives, and incredibly punitive with penalties and interests’. Some clients have previously been told by other advisers there was nothing they could do to reduce their taxes because their income was too high, or, have been […]

The IRS’ new streamlined offshore compliance program

Tweet The IRS makes significant variations to its offshore disclosure procedures to encourage U.S. taxpayers with foreign financial assets to comply with their tax obligations. Earlier this year, on June 18, the IRS pronounced major modifications to its offshore voluntary compliance programs, providing fresh opportunities to aid taxpayers residing both overseas and in the United […]

Google News shutting down in Spain

TweetSpain’s protectionist attempt at taxing news aggregators such as Google, for linking to Spanish News sites has dramatically backfired leaving Spanish news publishers cut off from Google’s immense traffic of 10 billion clicks to publisher websites per month. Hoping to reap €80 million a year for the Association of Editors of Spanish Dailies (AEDE) effective from January,the […]

U.S. Expatriated Entrepreneurs and Apple Tax Rules: Not All That Different.

TweetBack in 2013 the Offshore Leaks report, the crisis in Cyprus and the US Senate’s probe of Apple’s tax affairs injected renewed urgency into a global effort to crack down on aggressive tax avoidance. In fact, governmental authorities alleging that Apple had avoided billions of dollars in taxes shone an unforgiving spotlight on the international […]

How Will the Fiscal Changes in Spain affect IRPF for autonomos?

TweetAs an Autonomous worker you may be obliged to pay a percentage of your tax upfront when invoicing clients, called IRPF. This tax is paid directly to Agencia Tributaria and if you’ve paid more than you owe in advance, it will be swiftly returned to you during tax returns. Autonomous workers paying IRPF retenciones will […]

Modernisation of Spain’s VAT tax reporting system

TweetHacienda have announced a new administrative system the Suministro Inmediato de Información (SII) or “Immediate supply of information” for facilitating the reporting of tax information from invoices for certain taxpayers. Effective from 1st January 2017, the new system will enable taxpayers to supply VAT (IVA) information from issued or received invoices within a four day time […]