Questions

I will have to pay 8% of the sale price, property transfer tax, in addition to paying the notary and the registry. Apartment purchases are not declared in the rental declaration, apartment sales are declared.

In this case, you will pay capital gain, which is the tax levied on the increase in the value of the land. This is paid at the Town Hall, and it is good to know the amount before setting the sale price, as it can be high. When you make the income tax return, you will have You declare the difference between the value you bought it for and the sale one, in the capital gains section of the irpf. In the sale, it can be agreed who pays the transfer tax, which according to the law is paid by the buyer.

Contrary to the final settlement, the redundancy payment is tax exempted, provided that it is within the limits mandatorily established by the law, the workers statute or the development regulations up to 180,000 Euros. Any excess shall pay taxes, with the possibility, if applicable, of a 30% reduction.

Income tax returns can be filed from May 2 to June 30.

In general, the corporate tax rates for Small and Medium Enterprises are as follows:
a) Tax base between 0 and 300,000 €, will be taxed at 25%
b) Remaining taxable base, will be taxed 30%
If the company has maintained the level of employment it is possible that it can benefit from a special tax rate of 20%

In general terms, the tax period is the calendar year and the tax accrues on 31st December of each year. However, a different period may be selected for the corporate year. The tax is settled during the 25 days following the six months of termination of the financial year.

To deduct VAT, the supporting document of such right (original invoice) will be required. The minimum requirements that such invoice must fulfil are the following: a) Number and, if any, series. The numbers of invoices within each series shall be correlative. b) Date of issuance. c) Name and surnames, complete corporate name, both of the person obliged to issue the invoice and the addressee of the operations. d) Tax Identification Number (N.I.F.) assigned by the Spanish administration or, if any, by another Member State of the European Community with which the person obliged to issue the invoice has carried out the operation. e) Domicile, both of the person obliged to issue the invoice and the addressee of the operations. f) Description of the operations. g) The tax rate or rates, if any, applied to the operations. h) The tax liability that, if any, must be charged, which shall be stated separately. i) The date when the operations documented have been carried out.

The first three quarters, from day 1st to 20th of the months of April, July and October. The fourth quarter, from day 1st to 20th of January for Forms 111 and 115 (withholdings of workers /collaborators and leases) and from day 1st to 30th January for payments on account of the IT, returns-assessments of VAT and annual summaries (Forms 390-180-190). If the last day for filing falls on Saturday or holiday, the term to file the returns will be extended to the following working day.

Pursuant to the Code of Commerce, any businessman must ensure an orderly bookkeeping suitable for the activity of the company which allows a chronological monitoring of all its operations, as well as a periodical preparation of balance sheets and stocks. The businessman shall mandatorily have, notwithstanding that provided in other laws or special provisions, a Stock book, Annual Accounts and another Journal. Companies shall also have a book or books of minutes stating at least all the resolutions adopted by the general and special meetings and other bodies of the company, including the information related to the call and the constitution of the body, a summary of the items dealt with, the speeches whose record has been requested, the resolutions adopted and the result of the voting process.

-Registration: during the 10 days before the actual initiation of the activity.
-Variation/Cancellation: 30 days after the occurrence of the circumstances that modified the initial situation or as of the day the activity has been ceased.