Arrabe Asesores
· Private Area
· Private Area
 
 
Forgot your passwords?
Cancel

Newsletter: No. 20 - September 2011

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

Newsletter No. 20 Details - September 2011

  • Practical application of super-reduced rate of 4% to housing deliveryPractical application of super-reduced rate of 4% to housing delivery

    TIAG ® (International Accounting Group), founded in January 2003, is an international network of accounting firms of high quality. The network has established a global presence and has a membership of over 100 companies in over 60 countries.

    The commitment of the members TIAG is the dedication to 100% customer satisfaction, a thorough understanding of your business, anticipate the continual awareness of their needs, industry knowledge and customer and market responsiveness and accessibility continuously.

    1. What are the requirements for the delivery of property to individuals for housing benefit from the tax to 4% super-reduced rate provisions of Royal Decree-Law 9 / 2011 instead of 8%?
      • The delivery of housing should be made by an employer or professional, if not taxed by the Transfer Tax (Concept onerous transfer) (ITP).
      • Must be completed homes and be their first delivery (the one made by the developer). In the case of the second or further transfers (existing homes) applies the exemption, paying for the Transfer Tax (Concept onerous transfer) (ITP).
      • It is necessary that the buildings or parts thereof that are transmitted are suitable for use as housing, will include parking spaces, with a maximum of two units, and annexes which are located to be transmitted together.
        • No attachments will be considered for housing the business premises, but are transmitted in conjunction with them.
        • No attachments will be considered for housing the business premises, but are transmitted in conjunction with them.
      • The delivery of housing will occur from August 20, 2011 until December 31, 2011.
    2. How to pay tax prepayments made ??during the August 20 and December 31, 2011?
      • Prepayments made ??during the period referred to Royal Decree Law 9 / 2011, for home deliveries, garages and annexes which are located, also taxed at a rate of 4%, regardless of whether delivery of the property occurs subsequent to December 31, 2011.
    3. What is the tax rate applicable to payments of future home deliveries made ??to a cooperative in the period between August 20 and December 31, 2011?
      • Being prepayments 4% will apply according to what is stated in the question anterior.2.
    4. When VAT becomes chargeable on the delivery of housing?
      • The accrual of VAT on the delivery occurs, as a rule, at the time of commissioning power and possession of the purchaser of the property. If he had given a public deed, the setting means power and possession made ??at the time of grant.
      • When the same writing is clear or start a different time in power and delivered possession of the property, vesting will occur in the time it actually takes place is put on power and possession of the buyer.
    5. What is the tax rate applicable in the case of deeds formalized in the period between August 20 and December 31, 2011 which contain conditions precedent, so that putting in possession of the property is after 31 December 2011?
      • Upon delivery subsequent to December 31, 2011 the tax rate would be 8%. In these cases we must bear in mind that the possession is taken to the provision, namely, the possession would be the time when the chargeable event occurs per delivery.
      • In the event that any advance payments for the period indicated, August 20 to December 31, 2011, and possession is later, the advance payment tax to 4% and the amount paid or becomes payable at the time of ownership, to 8%.
    6. In relation to advance payments made before August 20, 2011 for homes purchased in the period from August 20 to December 31, 2011 with deliveries super taxed at the rate of 4% should they be rectified output VAT fees 8% for advances?
      • No. Article 90.Dos of Law 37/1992 provides that the tax rate applicable to each operation will be in effect at the time of accrual. In advance, the chargeable event occurs at the time of actual payment thereof by which, if they are satisfied before August 20, 2011, the tax rate is 8%, with regardless of whether the VAT element of the remainder of the price due by the subsequent delivery of the property taxed at 4%.
    7. Is it applicable rate of 4% super provisions of Royal Decree-Law 9 / 2011 on delivery of existing homes?
      • Only if the vendor chooses to exemption, for which it is required that the buyer is a businessman or professional with the right to full deduction of input tax in the operation. For homes purchased by private individuals is not applicable.
    8. Do home deliveries of new work done by developers are always considered first delivery?
      • No. It is considered as first installment for VAT purposes by the promoter after the uninterrupted use of the property for a period not less than two years by the owner, by holders of real rights of enjoyment or possession or under leases with no option to purchase, unless the purchaser is who used the building during that period.
      • In these cases the sale will be considered a sequel, exempt from VAT and taxed by the transfer tax.
    9. What if developers who could not sell the houses built and decided to devote the lease, does the consumption would be taxed at a rate of 4% if it occurred during the period between August 20 and December 31, 2011?
      • Yes, if it is lease-purchase option because if the developer goes to the lease-purchase consumption would not occur.
    10. Do home deliveries may be considered rehabilitated first delivery?
      • Yes rehabilitated home deliveries are assimilated to the delivery of a new building provided that the requirements of Article 20.Uno.22 º. B) of Law 37/1992:
        1. Over 50% of the total cost of the rehabilitation project matches or treatment works building structural elements, walls or roofs or similar works or related to rehabilitation.
        2. The total cost of works exceed 25% of the purchase price of the building (if made ??in the two years prior to the start of the rehabilitation works), or the market value of the building before rehabilitation, discounting both cases the land value.
      • The tax rate applicable to the delivery of housing will be 4% if it occurs in the period between August 20, 2011 to December 31, 2011.
    11. Is it applicable rate of 4% super provisions of Royal Decree-Law 9 / 2011 to the delivery of housing will be subject to demolition?
      • No, but delivery of the property is subject and not exempt from value added tax, the tax rate applicable to this sale shall be 18% and buildings are not considered suitable for use as housing.
    12. Is it applicable rate of 4% super provisions of Royal Decree-Law 9 / 2011 to the delivery of houses under construction?
      • No. If the object of delivery is a house under construction, so that the purchaser must proceed to completion, the applicable rate shall in all cases 18% .4
    13. Is it applicable rate of 4% super provisions of Royal Decree-Law 9 / 2011 for homes under construction that will be available upon its completion?
      • Yes, the provision of housing will be made ??by the developer after their construction, so that the purpose of housing delivery is not completed and housing construction. Therefore, it shall apply a rate of 4% on delivery if this occurs between August 20 and December 31, 2011 so as to advance payments satisfied in that period on account of the future delivery of housing finished although such payments are made when construction is still ongoing.
    14. When it is understood that a building or part thereof meets the requirements to be considered "suitable" for use as a dwelling?
      • When you have the corresponding license of first occupation or certificate of occupancy and, objectively considered, is likely to be used as a dwelling regardless of the purpose for which it is intended by the purchaser. For this purpose, housing means the building or part thereof for a room or home of an individual or a family home or constituting the seat of his domestic life.
    15. So that may be applicable tax rate of 4% VAT provisions of Royal Decree-Law 9 / 2011 requires that the transferred real estate is the residence of the buyer?
      • No. The application of super-reduced rate of housing delivery depends on a factual circumstance: the ability of the building or part of the delivery item to be used as a dwelling, regardless of the purpose for which is intended by the purchaser.
    16. Is it applicable tax rate of 4% VAT provisions of Royal Decree-Law 9 / 2011 to the delivery of housing to be allocated to office?
      • Yes, provided the property has the corresponding first occupation license or certificate of occupancy and, objectively considered, is likely to be used as a dwelling.
    17. What is meant by annexes transmitted together with the houses?
      • Yes, provided the property has the corresponding first occupation license or certificate of occupancy and, objectively considered, is likely to be used as a dwelling.
    18. Is it applicable tax rate of 4% VAT provisions of Royal Decree-Law 9 / 2011 to the delivery of housing to be allocated to office?
      • Annexes are understood by, among others, in addition to garages, basements, attics or storage rooms, stairways, goals, and sports fields, gardens, pools and common spaces in the plot itself and which are transmitted simultaneously with them.
      • For the reduced rate for parking spaces (maximum of two) and the various annexes of a home should also be transmitted together with the same, be located in the same plot as the family home or apartment building to they belong.
      • In the case of houses, land for ancillary urbanized may not exceed 5,000 square meters.
      • No attachments will be considered for housing the business premises, but are transmitted together with the buildings or part thereof for housing.
    19. Is it applicable tax rate of 4% VAT provisions of Royal Decree-Law 9 / 2011 to the delivery of three parking spaces that are acquired in conjunction with housing?
      • No. They apply the reduced rate of 4% to the first two and 18% to tercera.5
    20. Acquired in the same act a private dwelling and garage to the developer directly. House and garage are located in the same building. What is the tax rate applicable to the sale of the garage?
      • It applies a 18% VAT for the delivery of housing in the act passed is not subject to value added tax, but the transfer tax and stamp duty, because it is a transaction between individuals.
    21. Acquired in the same act a private dwelling and garage to the developer
      • Remains unchanged at 4%.
    22. In relation to mortgage payments made ??after December 31, 2011 for homes purchased in the period from August 20 to December 31, 2011 whose deliveries were taxed at super-reduced rate of 4% should they be rectified fees 4% VAT paid?
      • No. Article 90.Dos of Law 37/1992 provides that the tax rate applicable to each operation will be in effect at the time of accrual. In the delivery of housing, the chargeable event shall occur at the time that it is made available to the acquirer, so if this occurred in the period from August 20 to December 31, 2011, the tax rate applicable to the whole operation will be 4%, regardless of which part of the payment instrument through mortgage debt.
    23. In residential leases with purchase option, if exercised an option to purchase between August 20 and December 31, 2011, and therefore produces the delivery of housing in that period would it apply to such delivery the 4% tax rate?
      • Yes, if housing delivery involves making a payment in that time.
    24. What is the tax rate applicable to leases with purchase options?
      • Since this provision of services remains unchanged at 8% and 4% in the case of public housing or special regime public advocacy.
    25. Is it applicable rate of 4% super provisions of Royal Decree-Law 9 / 2011 to self-promotion of housing?
      • No. The result of execution of works contracts directly concluded between the developer of housing for its own use and the contractor will be taxed at 8%.

    Source: AEATBack Top

  • Labour Party official calendar for 2012 recently published in the Community of Madrid. Labour Party official calendar for 2012 recently published in the Community of Madrid.

    Madrid - 20/09/2011 BOCM - Decree 158/2011. In addition, the related parties 12 will be held in each municipality 2 local holidays.

    Calendar of Fiestas de la Comunidad de Madrid

    Source: Arrabe AsesoresBack Top

  • Again the Corporate TaxAgain the Corporate Tax

    By Royal Decree-Law 13/2011, of September 16, which resets the wealth tax, temporarily, published in the Official Gazette on Saturday September 17 and in force since September 18 has been removed the bonus was 100% in recent periods on the wealth tax.

    In addition to the elimination of bonuses, have changed the face following tax rules:

    • Exemption from the residence. The maximum amount is 300,000 euros free (before 150,253.03 euros).
    • Exempt amount in taxable income. Increases to 700,000 euros (before 108,182.18 euros). It is also envisaged that this minimum applies to taxpayers under real obligation to contribute (non-resident property or rights in Spain)
    • Duty Statement. If it is to enter, you must file the return and if not, the obligation will be for those with a heritage of more than 2 million euros (previously 100 million pesetas), even for those under real obligation to contribute (by presenting regardless of the amount of equity).

    Also, returning the following rules:

    • Representatives of non-residents. Non-residents must appoint a resident representative, otherwise it will apply a financial penalty (thousand euros). It adds that the custodian and manager of the property or rights shall be jointly liable for the debt income.
    • Bonus share in Ceuta and Melilla and the possibility that the Communities and cities with the Statute of Autonomy deductions set compatible with the State, the application will come after them.
    • The formalities of filing the statements or self-assessments, as determined by the Ministry of Economy and Finance.

    These new provisions govern only for the years 2011 and 2012, it is anticipated that in 2013 the bonus is applied again 100% and the abrogation of the obligations reinstated

    Fuente: Arrabe AsesoresBack Top

  • New criterion of interpretation of the tax on the VAT treatment of benefits in kind (See V1379-11, May 30)New criterion of interpretation of the tax on the VAT treatment of benefits in kind (See V1379-11, May 30)

    By referring queries, the Tax Administration has established a position on the deduction of input tax by employers on certain benefits received, which would serve, in turn, to implement in-kind compensation plans for their workers, replacement of cash compensation.

    Remuneration in kind consisted of the transfer of use by employers for employees with: (i) vehicles, (ii) computers (with Internet connection) and (iii) housing. The property was rented or purchased by the employer, who in turn gave in use.

    It is important to reiterate the character replacement pay, set by the client-employer.

    The Directors establish the criteria outlined by the Court of Justice of the European Union (ECJ) in Cases C-16/93, 102/86, C258-95 and C-40/09, and indicates that there is an onerous if it appears reciprocal exchange of services as equivalent or counterpart, particularly when the worker suffers a wage change in the value for the service provided by the employer (eg discounts).

    It also indicates that if the work done by the employee receiving the payment in kind and the salary received by him do not depend on whether receiving such compensation in kind, not fit to consider that a fraction of the work performed is the counterpart of the service constitutes payment in kind and therefore it will be a supply of services free of charge.

    Specifically, the Administration contends that the consultant salaries in kind represent a modification or novation of the existing labor contract by changing the composition of the remuneration system and are replaced by cash benefits in kind. Administration Matiza

    the status of the transfer of the vehicle as it considers only payment in kind as the share intended for private purposes of the worker.

    For these reasons, the Administration concluded that the benefits that serve non-monetary remuneration are subject to VAT, believes that the employer is entitled to deduct VAT when purchasing or renting such property, subject to complying with any requirements for it.

    In particular, affects the administration in the fact that there must be an invoice, which establishes the employer's name as the recipient of services, because if a named worker, and not try to pay within species, but cash (which will mean that the monetary compensation for this can not be deducted by the employer).

    Referring to the transfer of housing (attached garages or simultaneously), the Administration made ??a distinction between the assignment to the employer and this in turn makes the worker, and notes that the first will be subject and not exempt from VAT , the general rate, while the second will be exempt, to be a form of lease.

    Administration adds that when the recipient is the employee housing, the invoice must be issued in your name and not the employer, even he who bears the cost of services. But in these circumstances, qualify as cash compensation, which would prevent the deduction of tax by the employer.

    Finally, it should be emphasized in the cancellation of the mandatory consultation V0745-11, March 23, 2011, left no effects for which it has been commented.

    Source: Arrabe AsesoresBack Top

  • Main changes introduced by the Capital Company Act in the regular functioning of corporations and limitedMain changes introduced by the Capital Company Act in the regular functioning of corporations and limited

    Below is a brief summary of some modifications made to the annotated law is a series of measures to simplify the internal management of companies and various clarifications and adjustments that come into force on 2 October 2011.

    1. Grounds for revocation. - Has been eliminated as a cause of nullity the requirement to record the contributions of partners in the statutes, so suffice it to say the share capital.
    2. Creation of the electronic office. - It is expected that companies set a corporate website as office (not to be confused with registered office). It is the General Board (JG) the power to create, while the board may order the removal or transfer, unless the statutes reserve that power to the JG. Such decisions must be registered with the Mercantile Registry and published in the website itself during the 30 days following the elimination or transfer agreement.
    3. Calls to the JG. - In terms of publications, now requires that the notice is published on the corporate website that serves as home electronics, maintaining the required publication in the Id. Companies not required to publish online site set further in the largest daily circulation in the province's registered office.
      • On the other hand, minority shareholders (5% of capital) will have two months to be made through the board of directors attorney convening Board. Before this change was within a month.
      • It will be recalled, the dates of the JG should be posted with a notice of the date of the meeting. Well, now required ten (10) days in advance, at least when the second call had not been announced in conjunction with the first (before the period was 8 days).
      • The requirement to record the position of the person making the call has been extended to all companies (once only belonged to limited liability companies).
    4. Shares. - It is reported that credit institutions, including banks, should provide a reserve equal to the amount of the shares of the parent company computed in assets, even when they come from ordinary operations credit or guarantee.
      • In addition, extending the treasury-related offenses.
    5. Boards of Directors. - The statutes allow corporations (SA) provide for alternative forms of administration, and the possible appointment as an administrator in a legal person. This last possibility that was foreseen in the Mercantile Registry Regulations, requires the appointment of an individual for continued enjoyment of the functions, which must include registered in the Register. In particular it establishes that the revocation of designated only take effect when they appoint a substitute.
      • As a novelty, the convening of the Board may be made by a third of its members, in case the president, without cause, he had not done within a month, computed from the request made to the latter for that purpose.
    6. Separation partners. - It has extended the right to withdraw the member who has voted for the distribution of benefits in the event that JG has not agreed to the distribution of at least third of legally distributable profits (earned during the previous year). The right of withdrawal may only be exercised within one month following the date of holding the corresponding JG, under certain circumstances.
      • As additional cause that generates the right of separation, has established a substantial modification of purpose.
    7. New statutory cause of exclusion from membership and dissolution. - SA are permitted to include, modify or waive certain grounds for exclusion of members, provided that all members give unanimous consent.
      • Meanwhile, as legal grounds for dissolution apply to all limited liability companies has been foreseen for the cessation of the activity, meaning the period of inactivity exceeding one year.
      • Previously, both conditions were expected only in limited liability companies.
    8. Settlement. - Eliminate the following requirements related to the liquidation process:
      • Publish in the annual accounts BORME to be presented to JG by the liquidators, in cases where the process is spread over more than one year.
      • Conduct public auction for the sale of real estate during the settlement period.
      • Various liquidators appoint administrators who are at the time of commencement of such period. Thus, those listed as administrators will become liquidators, unless statutory or appointment of JG different. This applies to all limited liability companies and not just for Limited Liability Companies, as before the modification.
        Not require that the number of liquidators is odd.
      • Fraud as a prerequisite for attributing responsibility to the liquidators of the SA. In this sense, it creates liability for damage caused willfully or negligently by the liquidators of all corporations, in general.
      • Publication on the website of the company's dissolution agreement.
    9. Access to information. - To date, the corporation could not deny access to the information requested by members representing a quarter of the capital. The amendment is allowed to reduce this percentage statutes, but should always be greater than 5% of capital.
    10. Advertising agreements by Registry. - It will not be obligatory to publish the agreement of change of name, address, replacement or other modification of objects, whose demand was expected to in Article 289 of Law, as it has been repealed.
    11. Share capital of the company new business. - the figures are rounded to have their capital. Thus, there may be less than 3,000 nor more than 120,000 euros.

    Funete: Elaboración PropiaBack Top

Like this page? Recommend this site to your social networks