ACCOUNTANTS IN SPAIN INFORMING ON REDUCTION ON SPANISH COMPAY TAX

It took a long time but the good news for companies in Spain has appeared! The Multilingual Spanish registered accountants (economists) and tax advisers in Marbella of Arcos & Lamers Asociados have the pleasure to inform you on a relevant reduction on Spanish Company Tax down to 15% as per publication of Spanish Law 04/2013 of 22 nd February, which is meant to improve and increase Spanish economy. Specifically chapter two of the mentioned law is including relevant reductions in the Spanish tax system. Of course, limitations on these reductions have been mentioned as well. Are you willing to start an activity in Spain! As from 01.01.2013 you should bare in mind the following amendments at the Spanish tax

system. Contact the registered tax lawyers in Spain and accountants in Marbella of Arcos & Lamers Asociados now for any additional information or clarifications!. Article 7. Incentives for Spanish companies constituted as from 01.01.2013.

As from financial years starting from 01.01.2013 the following changes, among others, should be taken into account. 1) Companies constituted as on or after the 01.01.2013 which carry out economical activities and generate profits will be enjoying a reduced company tax rate for their first and second financial year. A) 15% Company Tax on the first 300.000 Euros profit.

B) 20% Company tax on profit above 300.000 Euros. Kindly note that this means a relevant reduction as in general lines the Spanish company Tax is calculated as per below mentioned Spanish Tax rules: Spanish companies:

For companies with turn-over more than 10 million euros, the general rates are the following: 30%. for the first 300.000 euros profit. 35% for the following ones. For companies with turn-over less than 10 million euros, with less than 25 employees, the general rates are the following: 25%. for the first 300.000 euros profit. 30% for the following ones

Conclusion: When you start your new activity in a company constituted as from 2013 you will enjoy a reduced rate company tax of 15%-20%. Congratulations! 2. As per this specific law, it is understood that the reductions on Spanish Company Tax are not applicable when: A) The economical activity in Spain has been previously carried out by armlength individuals and/or companies who have transmitted the activity to the new company. B) When the activity has been carried out, in between, 1 year previously to the constitution of the new company by an individual or company share holder (over 50%), directly or indirectly of the new Spanish company.

3. The mentioned reduction of the company tax in Spainwould not be applicable to companys part of a group. The professional team ofArcos & Lamers Asociadoshas the legal/fiscal knowledge, resources, experience and skills to help clients deal with any matters related to the services listed below.

CIVIL LEGAL AND EXTRAJUDICIAL PROCEEDINGS PURCHASE & SALE OF REAL ESTATE TAX LAW: TAX AND ACCOUNTING ADVICE CORPORATE LAW, TRADE COMPANIES INHERITANCE, WILLS AND SUCCESSION SPANISH EMPLOYMENT ADVICE TRADEMARKS AND PATENTS CRIMINAL LAW BANKRUPTCY PROCEEDINGS LEGAL AND FISCAL ADVICE IN GENERAL OTHER SERVICES Do you wish to immigrate to Spain, start a new activity, and/or constitute a company in Spain? Do you already own a business in Spainand you wish to obtain a second opinion on your accountancy books? Are you seeking for and updated multilingual registered accountant in Spain that speaks your own language?Contact now Arcos & Lamers Asociados!. Your accountants in Marbella, Costa del Sol, Spain!. www.arcos-lamersasociados.com Marbella, 2013.