Financial News

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At what point is it appropriate to establish a company in the development of an activity?

Jesus Raya

The taxpayers, in the exercise of their tax contribution in the de facto case, must apply the tax rules to specify their fiscal impact; Although the taxpayer can try to find the most favorable alternative for greater tax efficiency within reason, there may be mechanisms that are too laborious or artificial that lead to a conflict in the application of the tax rule. 

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Complementary and corrective statements:

Jesus Raya

The taxpayers, in the exercise of their tax contribution in the de facto case, must apply the tax rules to specify their fiscal impact; Although the taxpayer can try to find the most favorable alternative for greater tax efficiency within reason, there may be mechanisms that are too laborious or artificial that lead to a conflict in the application of the tax rule. 

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Conflicts in the application of tax regulations:

Jesus Raya

The taxpayers, in the exercise of their tax contribution in the de facto case, must apply the tax rules to specify their fiscal impact; Although the taxpayer can try to find the most favorable alternative for greater tax efficiency within reason, there may be mechanisms that are too laborious or artificial that lead to a conflict in the application of the tax rule. 

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Real ownership in the annual accounts

Jesus Raya

Beneficial Ownership Identification of the beneficial owner has become one of the most important due diligence that subjects must carry out… Read more

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What is the VAT pro rata rule?

Jesus Raya

VAT pro rata rule As we know, VAT is a tax that allows the deductibility of the contributions paid by those economic agents who... Read more

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Taxation on the sale of renovated storage rooms in commercial premises

Jesus Raya

Recently, the General Directorate of Taxes (DGT) has issued a new Binding Consultation, V-0419-23 on taxation for the sale of a renovated storage room… Read more

Money Laundering in the Accounting Field and Its Prevention

Money laundering in the accounting field and its prevention

Jesus Raya

Money Laundering Money laundering is a financial crime that involves the process of converting illegal profits or funds from illicit activities… Read more

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News to take into account for Corporate Tax

Jesus Raya

The Tax Agency, in INFORMA, publishes monthly those news that may be of interest in relation to the settlement of Corporate Tax, from a practical and regulatory point of view. We are going to analyze some of them that have been published with effect for the years beginning on January 1, 2023.

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Loss due to accident, what should be taken into account in accounting to carry out its withdrawal?

Jesus Raya

Sometimes, companies may suffer some type of catastrophe affecting the assets that comprise it, directly affecting tangible assets. These incidents may be due to natural causes, fires, accidents, electrical failures, theft, etc. Therefore, what must be taken into account in accounting to write off an asset due to an accident?

Business or Professional Activities

"Business or professional activities", from the point of view of VAT and Personal Income Tax

Jesus Raya

From a tax point of view, the concept of "business or professional activities" is regulated in some of the different tax regulations... Read more

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Franchise contracts as intangible assets

Jesus Raya Zamora

The PGC defines intangible assets as the non-monetary asset of the company without physical appearance, but that has an economic and monetary valuation. Thus, we can find administrative concessions, goodwill, the right of transfer which we have already had the opportunity to analyze in our blog, computer applications, etc. Another accounting aspect that we can find included within this asset element of the company is the franchise contract. Let's look at your setup from an accounting aspect.

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What should the company take into consideration in relation to personal income tax?

Jesus Raya Zamora

Until June 30, we are in the campaign for the declaration of the Personal Income Tax for the year 2022 before the Tax Agency so that all taxpayers declare the income they would have obtained this year. This tax, despite being a personal tax, has repercussions on the company itself, so we are going to analyze the most striking points.