What are the taxes affected? Income Tax for both residents and non residents in Spain and the Corporate Tax for the exercises 2007-2010. No mention is made to VAT, Wealth Tax which was reinstated by the government for the 2011 Fiscal year or to the Gift and Death Duty Tax. The wealth tax was suspended [...]

Two bills have been passed by the Spanish parliament and will take effect on January the 1st, 2007: the new Income Tax Act and the Tax Fraud Prevention Act, both of which will affect non-residents owning or intending to buy a holiday property in Spain. The Income Tax Act will change certain articles of the [...]