Spanish Market
We are very pleased to keep you informed of the latest developments in Spain, in cooperation with the Dutch Embassy, the EVD (the Dutch Agency for International Business and Cooperation), and the Spanish media.
Labour market reforms
According to many (inter) national economic experts, Spain must urgently implement drastic changes to the labour market. At present, current legislation and labour contracts are too rigid to be competitive with countries with much more flexible rules. In addition, something has to be done quickly in order to decrease the extremely high …
New office Bilbao
Ibersupport has recently opened a new office in downtown Bilbao. Basque Country is leaving behind its tumultuous past and turns out to become a very mature market with enormous potential for start-ups. The Basque Government is committed to the utmost to please existing and new entrepeneurs as much as possible. …
Transfer pricing
The Spanish tax authorities will be paying closer attention to related companies who invoice one another. This effort will attempt to prevent the shifting of capital gains between partner companies. In cases where this is found to be occurring, the authorities will be checking to …
Lower social security PYMES?
One plan the Spanish government is considering implementing is the introduction of a tax break for small and medium enterprises. Conditions of this tax reduction will require companies to commit to maintaining their current number of employees for a definite length of time. These measures are …
Fiscal measures
It is widely known that Spain was hit particularly hard by the economic crisis. The Spanish government has announced that it will adopt several fiscal measures intended to generate additional income for the Treasury Department. One of the measures being taken is the withdrawal of the …
Changes Annual Accounts
In Spain a new law was passed (JUS/206/2009) which dictates that as of 2008, significantly more information is required to be included in the balance sheet submitted by companies than previously. In addition to the balance sheet and profit & loss account, companies are required to provide …
Monthly VAT Returns
As of 1 January 2009 it is possible to request a monthly IVA tax return (BTW) in Spain. Until now it was only possible to submit this request once a year. Companies interested in taking advantage of this regulation must apply to a special tax …
Transfer Pricing
From 2009 the Spanish tax authorities will be carrying out stricter controls regarding the transfer of funds between related companies. This is primarily aimed at the prevention of disguising profits. Companies are obliged to conform to contractually agreed upon standard market pricing. This is of particular …