Expertos en Movilidad Internacional e Inmigración Corporativa
Since 8 January 2023 the Consulate in Barcelona has been issuing visas again. For this reason, the issuance and granting of visas has been speeded up, as it is no longer necessary to apply for all of them at the Chinese Embassy in Madrid.
At Expatfeliu, thanks to our visa experts, we can advise you on how to obtain your visas for China as efficiently and quickly as possible.
The Supreme Court stresses that in the case of taxpayers under real obligation, the delimitation of the taxable base of the tax is linked to the property and/or right located in Spain itself, so that the deductible debts are limited to the mortgage charges incurred to acquire or reform the property.
Consequently, if the taxpayer subsequently grants a loan secured by a mortgage on the property located in Spain (i.e. the loan is not linked to the acquisition or refurbishment), it will not be deductible, since, although the two debts are secured by the same property, the mortgage taken out to acquire or refurbish the property is a security interest, whereas a mortgage taken out subsequently and not used for the acquisition or refurbishment of the property is a personal debt secured by a mortgage on the property itself.
Therefore, non-resident taxpayers owning real estate located in Spanish territory must take this ruling into account in their investment and indebtedness strategies on real estate they own located in Spanish territory.
Expatfeliu can advise and support you in analysing the tax impact of your investment and debt strategies on your property located in Spain.
Prior to this law, the procedure for recognition of foreign degrees could take up to 2 years, but now, following this reform, the public administration is obliged to issue a decision within a maximum period of 6 months from the receipt of the application (hence the name “express”).
If the homologation and equivalence procedures were initiated under the provisions of the previous Law, Royal Decree 967/2014, of 21 November, it will be possible to submit a new application as provided for in the reform, provided that you have not yet been notified of the hearing procedure in the previous file and that the new application includes a request for withdrawal of the previous procedure.
In these cases, it will not be necessary to pay the corresponding administrative fees again, provided that the previous fees have been paid correctly.
Finally, it is important to note that this Law only applies to official university degrees that correspond to studies already completed and that it only covers those professions regulated in Spain and contained in the annex of the Law itself.
If you need more information about the new “express” recognition and declaration of equivalence procedure, do not hesitate to contact us!
This reform is applicable on the effective date to all employment contracts in force at that date, provided that it is more favorable to the employees.
Companies must establish a clear procedure for the request and authorization of vacations and the way in which vacations will be accrued for the time worked in 2022, in addition to considering the economic implications of the reform.
If you need more information on the Reform of Articles 76 and 78 of the Federal Labor Law in Mexico, please do not hesitate to contact us, our experts in the field will inform and advise you on the new reforms.
The taxpayer is an individual resident for tax purposes in Germany who owns 100% of the shares in a German company, which holds the direct ownership of a property located in Mallorca, and therefore the taxpayer has indirect ownership of the aforementioned property. The Directorate General of Taxes concludes that the taxpayer is not subject to Wealth Tax since he is not the direct owner of the property located in Spain.
This measure has an important tax transcendence especially in tourist areas such as the Mediterranean coast or the Balearic Islands, where it is common for non-resident individuals to channel their real estate investments through companies that have their tax residence outside the Spanish state.
Indeed, if the real estate is acquired through a foreign company, the direct ownership falls on the aforementioned company, and the non-resident individual partner who holds a certain percentage of shares of the entity, being the indirect owner of the real estate, will be exempt from paying Wealth Tax.
Special attention to the real estate acquired in Spain directly by the non-resident individual, since these would be subject to Wealth Tax by real obligation.
The resolution is binding and retroactive, so that investments with similar characteristics to those of the resolution that have occurred in non-prescribed fiscal years will have to be analyzed in detail, for the purpose of studying the filing of a claim for undue income.
If you have any doubts in this regard, you can contact us and our team specialized in international taxation will advise you and give you more information on the tax transcendence with respect to the indirect holding of real estate in Spanish territory by non-resident individuals.
