Spain 2014 budget now in effect

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Information about Spain 2014 budget now in effect

Published on February 19, 2014

Author: NairandCo

Source: slideshare.net

Spain 2014 Budget Now in Effect: Update from Nair & Co. Tax Team (Bristol, UK) - The 2014 Budget published by the Spanish government is now applicable as of 1 January 2014. The budget includes a long-term strategy targeting employee training, advance payments regulation and much more under corporate income tax, reports Nair & Co.’s International Tax Team. Significant highlights of the changes included in the regulatory framework of corporate and individual taxation are as follows: Corporate taxes  Extended tax measures to 2014:  Small entities that maintain or create new jobs will be eligible for a reduced tax rate.  In order to benefit employee training in new information technologies, tax incentives will continue to be granted on expenses and investments made by such companies.  New rules have been introduced for advance payments.  New coefficient applicable to the acquisition cost while transferring immovable assets. Individual income taxes  Tax credits are extended for expenses and investments related to in information technology job training.  An extension is provided to supplementary surcharges which were introduced for the year 2012 and 2013. Non-residents’ taxation  Income tax rates set for 2012 and 2013 are now extended to 2014.

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