OSBORNE Blog

Taxes Going Up!: Aspects to consider

There are three types of taxes that will be affected from July 1 next year, two direct (IS and income tax) and indirect (VAT and excise Scheme). Given this rather than higher taxes imminent Spanish government we must be prepared, for this is explained below several measures to be taken into account for the impact of this rise as little as possible to affect our pockets.

The government prefers to raise taxes to reduce public spending.

a) Tax Income Tax on Individuals (PIT)

- We anticipate the receipt of dividends as far as possible if we venture partners see fit to divide and do so in these times, and anticipate the maximum possible capital gains because the tax rate rises from 18% to 21% . So do not expect more and divide the money before year's end.

- It can delay the realization of losses, as these will reduce its reference rate for accrual of 21% to 18%.

b) corporation tax (IS)

- As each case, advance or delay investments that seeks to make, depending on the reference rate at all times, freedom of depreciation and the prospect of increasing or maintaining the workforce of the company.

- Analyze the desirability or otherwise of fiscal consolidation, particularly in relation to linked transactions, since the new rules for not following you correctly awarded the penalty and in addition there is a correction factor. This consolidation saves the Prosecutor, who frees you from the connected transactions between companies.

c) Value Added Tax (VAT)

- Anticipating the purchase of buildings or machinery that requires our company as the tax rate increase next year by two points in the general and one in the small.