Spain is no different from anywhere else in the world, in that Taxes are an inescapable fact of life. But of course – just like anywhere else in the world – Spanish Tax Law is a potential nightmare of red tape, bureaucracy and documentation which is next to impossible for the average person to understand.
Whether you are legally resident or non-resident in Spain, if you live and work here, if you own a Property which you sometimes rent out on a short –term basis, or if you just have assets in the Country – there is a strong possibility that you will be liable to pay some Spanish Taxes – be they just local Property Taxes, or more complicated than that, in terms of Income Taxes, Social Security payments and so forth. There is also, in Spain, something with which you might not be familiar, called the “patrimonio” or Wealth Tax. Essentially, it is a levy on assets held in Spain by non-residents. We will be happy to explain this to you, the consequences it might have for you – and how to keep your obligations to a minimum.
There are two important pieces of advice we can give you here:-
1) Always, always make doubly sure you are complying with the appropriate Tax Laws, as they apply to your own situation. Failure to do so is a huge mistake, and can result in absolute misery, for the Authorities – Local, Regional and National – take a very dim view indeed of anything they see as Tax Evasion. And they each have rights to come after you, or your Estate, for many years after you might have thought you had “got away” with something.
2) Also, ensure that you take the best advantage of the Tax Laws, as they stand, to minimize the amount you have to pay. This is just plain common sense, but it is amazing how few people take completely legal advantage in order to minimize their taxes. It has been our experience that our advice and expertise in this minefield often saves our Clients much more money than our charges have cost them.
Our Law Firm is especially well equipped to give you the best of these two worlds, with one of our Partners possessing the most up to date qualifications in Spanish Tax Law, and with many years of experience in this area. We can provide you with the best available advice, a personalized plan for your Spanish Taxes and the capability to process all the necessary paperwork on your behalf.
Also, with our International capabilities, we are able to ensure you are not subject to double taxation; an issue rarely addressed, but sometimes very important.
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