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Newsletter No. 27 - April 2012

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Details Newsletter No. 27 - April 2012

  • Campaign begins 2011 Income TaxCampaign begins 2011 Income Tax

    One change is that the tax credit for house purchases in 2011 may be made for all types of income.

    On April 10 income tax tore the 2011 campaign thus taxpayers may request and confirm the draft declaration of income for the year 2011 through July 2.

    In just two hours since the campaign began the service by which you can get the draft collapsed. This year's tax return with some new features like that for the first time the irregular salary income, other than those from stock options, have limited its reduction to a maximum of 120,000.

    In Arrabe Asesores as every year we offer our consulting services, for making the statement or revision of the drafts submitted by the estate and as always, it is important to review prior to confirmation, given the amount of inaccuracies often bring.

    Major developments this year

    • It sets a general limit of reducible irregular employment income in 40%, which is 300,000 euros, so that the maximum reduction for this concept is 120,000 euros.
    • It increases the yield reduction from real estate, from the rental of housing, 50 to 60%.
    • Taxpayers engaged in economic activities can apply accelerated depreciation for fixed assets acquisition again without it is conditional upon continued employment.
    • The state rate levied on the taxable income generally add 2 stretches to 2010, from 120,000 to 175,000 euros, which is applied 1 and 2 percentage points, respectively. Thus, depending on the Autonomous Community concerned, the rates ranging between 23.6 and 49%.
    • The deduction for house purchase in 2011 may be made for all types of income.
    • The deduction for improvement works, as of May 7, 2011, see how extending it to second homes and rental housing, increasing the tax credit rate from 10 to 20%, the annual limit from 4000 to 6750 euros; the total limit for housing from 12,000 to 20,000 euros and the maximum basis for application of 53,007 to 71,007 euros.

    Contact your usual to make an appointment. Do not leave it until the last moment

    Source: AuthorsBack Top

  • Expanded the provision of ICO credit lines up to 22,000 million eurosExpanded the provision of ICO credit lines up to 22,000 million euros

    The Council of Ministers on March 16 approved increase to 22,000 million endowment mediation ICO lines 2012 and redirect some of them. With these measures is to improve the functioning of these credit lines and provide funding to companies, particularly SMEs and entrepreneurs.

    This is done by modifying two key elements:

    • Extending the envelope of the lines. Raise the budget originally planned for 2012 by 15.8% to 22,000 million euros. This increase has no budgetary impact, as the ICO financing captures the capital markets.
    • Prices are adjusted. It seeks a reduction in the cost for the end customer as a result of the expected improvement in the cost of financing the ICO. It also slightly increases the range of financial institutions in order to stimulate the commercialization of the ICO. This margin is the entities receiving compensation for assuming the risk of operations.

    Major developments in 2012 are the ICO:


    Finances investment projects in the interior including the purchase of productive fixed assets, vehicles and businesses.

    • Increasing the allocation from 8,000 to 9,000 million euros.
    • It includes the possibility of working capital financing, with a value of 10% of total funding.


    Finances investment projects abroad, including the acquisition of fixed assets, vehicles and businesses.

    • The endowment is doubled to 2,000 million euros, including a stretch of additional funding, no bonus, 1,000 million euros.
    • It includes the ability to fund working capital, with the 20% of total investment.


    Finance capital to freelancers and companies facing temporary situations restriction of credit.

    • Increases strength, from 6,000 million euros to 8,000 million euros.


    Replaces the ICO-Business Development. Finances investment projects for freelancers and professionals who have started business in the last five years.

    • The envelope, going from 750 million euros (not including the section of "capitalization", which disappears) to 2,000 million euros.

    ICO-Housing Rehabilitation.

    Promotes the rehabilitation of homes and buildings. It has a budget of 1,000 million euros.

    • A new feature allows the funding of the reform of the common elements of buildings.
    • It eliminates the so-called "housing stock Tranche" which provided financing to housing developers on condition that the houses were put in rent. This deletion occurs in line with the policy of disposal of housing stock

    Source: AuthorsBack Top

  • Tax inspectors praise the anti-fraud plan of the decadeTax inspectors praise the anti-fraud plan of the decade

    The Professional Organization of State Tax Inspectorate (IHE) believe that tax evasion plan of government is the "most important legal strengthening of the inspection in a decade," it includes measures "very positive" to combat the underground economy .

    "All these measures should be complemented by increasing human and material resources," the organization said in a statement. In any case, the approved lines "are the correct lines and not a fiscal amnesty unfair and antisocial."

    One measure is "the elevation of the existing sanctions ridiculous 150 euros for staff constraints the tax amounts actually about deterrence," which applauds the inspectors.

    Regarding the purpose of the requirement of undeclared accounts abroad, the organization believes that it is "a very positive move for reasons of equity and tax collection."

    The limitation of the system of modules, inspectors approve the measure because "it is a severe limitation on a nest of false invoices" and "promotion of fraud to the Treasury."

    Tax inspectors also praised the limitation of cash up to 2,500 euros because "it is a reasonable measure that will facilitate future performance of the Inspectorate of Finance."

    Finally, the organization, which calls for measures to be processed as Bill says that enhance the ability to collect tax debts from the tax office will also be useful because "the Department of Revenue Tax Agency is not only raising tax liabilities but almost all public bodies. "

    View the PDF document

    Source: AuthorsBack Top

  • The app for smartphones Alert Tax Arrabe Asesores, awarded as one of the 100 best ideas of 2011 by Current EconomicThe app for smartphones Alert Tax Arrabe Asesores, awarded as one of the 100 best ideas of 2011 by Current Economic

    As every year and 24 for the prestigious Economic News unveils the 100 best ideas implemented in the last year by Spanish companies.

    From crisis harder than we have seen in recent decades comes with hard work, but also with good ideas. Companies are increasingly aware that innovation is the way to leave behind the bad situation they are facing and the only way to revive the domestic market while increasing its potential to sell outside of Spain. Economic News chose from a number of interesting proposals, the best ideas I have started businesses in the form of products during 2011. New services at the airport of Barajas, tablets for children, diesel hybrid technology for cars, purses in Mobile, wind energy systems, business accounting, a social network for investors, a clock that measures the solar and sidereal time, the sustainable world first gas station, a stock of houses for rent as solidarity, motorcycle battery-scale applications that help put on the iPhone app world, a check ready .... to a board game based on the wine tasting. All ideas have a name behind, from Santander, BBVA, La Caixa and Banco Popular, Repsol and Telefonica, to Iberdrola, Adecco, Acciona, Mango, Endesa, Citroen, Prosegur, IBM, IWC, Mapfre, FCC, Accenture, Intel , Fagor, Arrabe Asesores, Orange Imaginarium, among other companies. There are companies and lesser known companies on and offline, and products of all kinds. And is that the 2011 harvest has been excellent, despite the difficult economic situation.

    Economic News awards a year, and are 24, the best ideas that have left the neural tissue of Spanish companies and brought them together in a file that is already in its kiosk and a gift with the magazine. They are the best ideas in the fashion world in the automotive sector, including food products in the financial sector, training ideas and sustainable ideas, highlights we've seen in the world of advertising and technology, travel and leisure, the latest in the energy sector, corporate social responsibility, SMEs with outstanding products or service innovations.

    EEconomic Update l dossier makes a profound analysis of the state of innovation in Spain and explains how the R & D public and private face of budget cuts and crisis.

    Source: AuthorsBack Top

  • The tax amnisitía generates too many doubts and success depend on the answers of Finance La amnisitía fiscal genera demasiadas dudas y su éxito dependerá de las respuestas de hacienda

    Has been developed according to the amnesty process, will allow the adjustment of quantities for the taxpayers of income tax and corporation tax, but there are other tax figures may be affected and the completely unknowable will act as estate

    The tax break is already in force after the approval of Royal Decree-Law 12/2012 published in Official Gazette of March 31, which includes the outline of the "plan of adjustment." However, it is just five very general paragraphs that do not resolve the many doubts among the contributors or provide sufficient legal certainty to strip to the Treasury. The amnesty will allow undeclared income emerge until November 30 only paying a special rate of 10% (without penalty and no possibility of having a process for tax fraud). The music sounds good in the tax offices, but before recommending their clients to avail themselves of the amnesty, they hope to clarify many doubts in Finance declaration form which will serve to articulate the regularization plan and has not yet been published :

    1 If a company regularizes, what about VAT?

    To Víctor Hernán, tax partner in charge of CMS Albiñana & Suárez de Lezo, this is one of the most problematic issues. The tax break only applies to income tax, income tax nonresident and corporate tax. Thus it is likely that unreported income a company regularized in the corporation tax applicable to transactions for which there should also be taxed by VAT, a tax is not included in the tax amnesty. Treasury should clarify this issue for good companies to agree to bring out hidden resources always prying eyes of the tax. In any case, the fact that VAT is a tax harmonized in the EU difficult to fit the tax amnesty. If a company suspects that hidden capital regularization would pose a heavy fine for having defrauded VAT is more than likely choose not to receive amnesty.

    2 How does the amnesty affect the estate tax?

    This is a case similar to the VAT. The wealth tax was not included among the group of taxes affected by the tax amnesty and this is causing more of a headache for taxpayers. More than likely that a person who rents regularize income tax is also subject to wealth tax. It is true that the charge was dropped after 2008, however, the 2007 required by June 30. An example: A taxpayer must pay 500,000 euros to surface only 10% income tax and not be penalized. However, if that money had it in 2007, should be taxed on capital. As drafted the royal decree, tax consultants say that the tax could hold accountable for not paying the tax on capital. One option is to stabilize after 30 June, at which time the 2007 is prescribed. In fact, it is likely that most opt for this route to avoid further tax bill. However, if the amount defrauded exceeds 120,000 euros-threshold at which tax fraud-crime becomes, the limitation period is extended one year and this tactic is useless. The partner and director of fiscal area Broseta-Lawyers, Luis Trigo, recommended in this case raise the white flag and untimely filing a tax on capital. This avoids risks to the extent that taxpayers who voluntarily put up with the Treasury are exempt from criminal liability.

    3 How is taxed on income and corporations for the year 2011?

    The legislation states so confusing that can only be regularized goods that were taken before the first of December 2011. This means that income must be taxed to surface by the common pathway in the statement of income tax and corporation tax for the year 2011, presented in June and July this year. Thus, it appears that if a taxpayer regularized thereafter, shall submit a supplemental for the year 2011 or, otherwise, could face a penalty of Finance. Also, remember that the estate tax is in effect and, therefore, income should be taxed under the upwelled estate tax if they exceed EUR 700,000. Taxpayers Madrid, Mallorca and Valencia are exempt because their regional executives have not recovered this tax.

    4 How is "identify the property or rights" regularized?

    "Along with that particular statement be incorporated into the information needed to identify the assets and rights (...)". This paragraph in the royal decree raises questions, since this is not always easy identification. For example, a taxpayer may be difficult to explain the source of cash, although this does not have its origin in illegal activities. Moreover, respondents must also demonstrate they are "owners" of property, something simple if a checking account and complicated bills in cash. Also keep in mind that the estate and gift tax is not covered by the tax amnesty. This means that if a taxpayer claims that the upwelled income comes from an inheritance, inheritance should be taxed on if that exercise is not prescribed.

    5 What happens when two actors are involved in fraud?

    Is another concern that brings Victor Hernan CMS Albiñana & Suárez de Lezo. In the event that the adjustment of a taxpayer uncover the fraud of another, what happens? A very basic but is illustrative of a professional who receives one or more payments from a company in black money. If you decide to regulate the amount, does the Tax Office could act against the company that has made ??the payment? Finance, sooner or later, those doubts should be resolved

    Source: AuthorsBack Top

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