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Newsletter: No 11 - November 2010

Clicking on the headline of each news item, you have access to the detail of it

Details Newsletter No. 11 - November 2011

  • Treasury will send notifications only online from 2011.

    A royal decree just adopted states that 1.2 million-most companies are corporations and limited-will be required to receive notifications of Finance alone online.

    Horse Gaspar, director of the Department of Tax Management, explains how this process will be. In the coming months, the companies will receive a letter from the Treasury, "perhaps the last by post-and assigned an email from that point be the only way to receive tax notices from the Tax Office.

    safety issues, the Treasury will not send regular email messages to the company. But are businesses that must access the website of the Inland Revenue and there will be an email assigned.

    This will force companies to come into your mailbox every ten days, because this is the margin that exists since the tax office sends a notice to the Company confirms that it has received. Otherwise, it is rejected, which implies that the tax proceedings should apply pressure and sanctions. However, companies will have the option of activating a warning system that will tell them if the Tax Office has notified them to your inbox.

    In any case, the process of assigning an email would begin soon but may be delayed beyond the year. Finally, the self-employed small business owners whose profits are taxed by the income tax instead of income tax, will not be affected by the measure. However, Treasury does not rule out that in the future can be required to interact online only to "individuals who belong to groups who, because of their economic or technical, professional dedication or otherwise credited, are guaranteed access and availability of technological means precise."

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  • The State recorded a deficit until October 31.263 million euros, 47.3% less than the same period in 2009The State recorded a deficit until October 31.263 million euros, 47.3% less than the same period in 2009.

    The State recorded until October a deficit of 31.263 million euros in national accounts terms, equivalent to 2.96% of GDP, depending on the progress of budget execution data presented today in his appearance before Budget Commission of the Congress of Deputies Secretary of State for Finance and Budget Carlos Ocana. This negative balance of government accounts is 47.3% lower than in the same month last year, when the accumulated deficit stood at 59.309 million euros, equivalent to 5.63% of GDP, and is consistent with reduced anticipation of the government deficit for the full year.

    The deficit at the end of October is a result of non-financial resources accumulated during the first ten months of the year to 115.697 million euros, compared to a non-financial expenses amounted to 146,960 million euros.

    In cash terms, an accounting method that records the receipts and payments made at the time in which they become effective, the State filed an imbalance of EUR 34,850 million, compared to 57.602 million deficit recorded in the same period in 2009.

    Figures for non-financial income data were available from all the government, before discounting the involvement of Territorial Administration (CAAC and local government) in order that it can perform a more complete analysis.

    Total noninterest income rose to October to 151.658 million euros, representing an increase of 8% over the same period in 2009. Tax revenues, representing 92% of the total, show a growth rate of 10.9%. In this positive development impact several factors: the consolidation measures taken in tax (partial removal of the deduction of up to 400 euros, raising the deduction rate applicable to capital income, increased excise duty and VAT), which to date have provided an income of 5,220 million euros, improving economic conditions and declining returns for VAT, motivated by the new monthly repayment system that was a preview of the tax returns for the past year.

    Direct taxes were generated at the end of October revenues of EUR 77.147 million, representing a decrease of 0.8% over last year, due mainly to lower revenue from corporate tax. Indirect taxes, on the other hand, in the same period showed an increase of 29.3%, driven by the strong performance of VAT. The rest of the state's financial income amounted to 11.114 million.

    For tax figures, the income tax has accumulated a collection of 57.301 million euros, representing an increase of 5.4% compared to 2009. This increase is explained by the increase of 5% of net job retention and decrease returns by 7.1% as a result of lower claims, which offset the negative effect on the collection of income withholding under capital.

    Corporate Tax entered the first ten months of the year 16.516 million euros, 19.5% less than the same period last year by the decrease in annual assessments of tax and installment payments made through October.

    VAT generated during the first ten months of the year almost 14,000 million more than the same period in 2009 and closed October with a cumulative revenue of € 44,344,000, representing an increase of 44.8% over the previous year, significantly 35.9% higher than planned in advance of settlement for this year contained in the draft budget for 2011. The decrease of 32.8% returns as a result of lower VAT amounts requested and the highest annual revenue deferrals granted in previous periods explain, in part, these positive developments, which also influence the growth of bases tax due to improved economic conditions and rising tax rates, which has already provided 1,430 million

    Excise revenue improved by 2.6% and contributed 16.537 million to public coffers until October. Notable increases in the tax collection on Snuff (2.4%), which is explained only by higher tax rates and tax on hydrocarbons (1.8%), also affected by the increase of the half the previous year.

    As regards non-financial payments, they amounted to 146.746 million at the end of October, representing a fall of 0.3% compared to 147.119 million had been paid through October 2009.

    The effect of spending restraint measures can be seen in all chapters, except for financial expenses, which grew due to higher volume of outstanding debt. Personnel costs grew only 1.4% in the year. Current expenditure fell by 3.2% do Current transfers by 2.2% and capital transfers, 11.4%, while real investment point to a decrease of 13.7%.

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  • Physicians for Social Security may issue medical high during the first year of the processes of Temporary Disability.

    The Government Gazette published a resolution of the Ministry of Social Security, which provides that the Social Security doctors, the National Institute of Social Security (INSS) and the Social Marine Institute (ISM) may give discharge for a maximum of 365 days of the processes of temporary disability (sick leave), under the same conditions as the Health Services Inspection of Social Security or the equivalent of the relevant Public Health Service.

    Prior to the rule published in the BOE during the first year of sick leave, the doctors were Public Health Service who were issuing the discharge, while the INSS and ISM doctors could only communicate intentions or proposals to discharge Health Services Inspection of Social Security and its equivalent of the respective public health service in each region.

    Since the entry into force of the resolution when the discharge is granted by the INSS or the ISM, are these the only entities that may be cast by their own doctors, a new sick leave by the same or similar condition or if it occurs within 180 days of that discharge.

    The Provincial who assume these responsibilities are detailed in the General Law of Social Security: Alava, Albacete, Alicante, Almería, Ávila, Badajoz, Baleares, Burgos, Cáceres, Cádiz, Castellón, Ciudad Real, Cordoba, La Coruña, Cuenca, Granada , Guadalajara, Guipúzcoa, Huelva, Huesca, Jaén, León, La Rioja, Lugo, Madrid, Malaga, Murcia, Navarra, Ourense, Asturias, Palencia, Las Palmas, Pontevedra, Salamanca, Santa Cruz de Tenerife Cantabria Segovia, Sevilla, Soria, Teruel, Toledo, Valencia, Valladolid, Vizcaya, Zamora, Zaragoza and the cities of Ceuta and Melilla.

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  • Treasury rejects raising the corporate tax and excise dutiesTreasury rejects raising the corporate tax and excise duties.

    Carlos Ocaña responded with a resounding "no" to question whether the Government would raise the income tax. The response of the Secretary of State for Finance in the Forum CincoDías reassured and the CEOE employers, who feared that the estimate of revenue from corporation tax for the year 2011 included a tax increase had not yet announced.

    Moreover, the Treasury maintains that the tax charged on company profits will not suffer a rate cut. And while Carlos Ocaña has argued on several occasions "clean" of corporate tax deductions, the Government has set short-term any change in a tribute that will provide the state this year at around 14,650 million euros, 5,500 million less originally envisaged by the Government.

    In fact, for the first time since 1999, revenues from corporate taxation will be lower than the excise taxes that Ocaña said no rise in 2011. However, in this respect, concerns are greater because the government never announced in advance by an increase in excise.

    Ocaña, regarding the increase in VAT-increase which he defined as a success, "warned that if the Government had opted for the tax measure, markets and international pressure would have required a higher tax rate. The Secretary of the Treasury wanted to delink VAT increase in July's sluggish economy in the third quarter and claimed that the effect on consumption "was not relevant. " Still, he acknowledged that taxpayers had advanced their product purchasing decisions such as housing or cars to get around the tax hike.

    About the most important tax collection, income tax, Ocaña said he was not concerned about the disparity in rates between different territories. From 2011, income exceeding € 175,000 will be taxed at 49% in Catalonia, 48% in Andalusia and Extremadura and Madrid will apply the lower tax of 44.9%. The Secretary of the Treasury denied that this asymmetry may encourage the relocation of individuals or fraud to raise tax in areas with lower taxation. However, a taxpayer who earns 699,000 euros, the average salary of an officer of Ibex-pay 20,800 euros in Catalonia for rent in Madrid.

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  • Only 28% of collective agreements to avoid losing purchasing powerOnly 28% of collective agreements to avoid losing purchasing power.

    The crisis increasingly noticeable in the pocket of employees who have been lucky to keep his job. Despite falling in 2008 and 2009, wages rose more than resisted and prices. This year the situation has reversed. Until October, the remuneration agreed upon in the agreements have grown just 1.3% price, 2.3%. Conclusion: 2010 many workers end up losing purchasing power in the absence of any correction. What happens is that the usual mechanism of correction, the wage revision clause, has lost much ground this year. Only 28% of agreements registered with the Ministry of Labour until October contained, and last year, half.

    If the numbers are observed in detail, these figures can be corrected downwards. In Spain there are 15.4 million employees, but not everyone enjoys the collective agreement (through October, 6.2 million). So the 2.5 million workers so far eligible for the guarantee clauses, the other name that is known, represent only 16% of the working population and 41% of which has agreement.

    "Basically what happens is that inflation takes two years to below 2%", analyzes José Ignacio Pérez Infante, the Advisory Committee on Conventions, recalling that in previous years when prices ease the pressure, also lowered the number of agreements with clauses. But this year, inflation has picked up. The increase in VAT and electricity tariffs have pulled the IPC and that will help many lose purchasing power.

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