10Minutos - Historical

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Nº 4

Key factors of the "Zurbano Pact"... in 10Minutes

In ten seconds: 10 Minutos - Digital version

  • The Royal Decree was published in the Official State Gazette on 13 April 2010 and entered force the following day.
  • It contains a package of measures to stimulate business recovery and job creation.
  • It envisages tax breaks for home refurbishments.
  • Financial support for SMEs.
  • Protection measures for citizens.
  • Financial sector restructuring.
  • Novelties in energy recharge services.
  • Change in tax base for VAT and Canary Island Indirect Tax.

Digital version

Nº 3

Key factors of corporate restructuring … in 10 Minutes

In ten seconds: boletín 10 minutos

  • Express Merger minimises the time required to carry out a merger or spin-off when the organisations involved are limited liability companies and resolutions are adopted unanimously by the shareholders.
  • Formality for transforming public limited companies (“sociedades anónimas”) into private limited companies(“sociedades de responsabilidad limitada “) has been simplified
  • Operation previously classed as non-monetary contribution of a line of business before Law 3/2009 came into force now regulated as a spin-off.
  • Procedure for intra-Community crossborder mergers and spin-offs in place.
  • Clear mechanism created for international changes in registered office for Spanish and foreign companies.
  • Transfer tax eliminated on restructuring operations.

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Number 2

In just 10 seconds:

boletín 10 minutos - número de marzo de 2009
  • The new VAT and IGIC refund system makes it possible to reduce the financial cost of refund deferrals, particularly in those periods of major investments or when a business or professional activity is started up.
  • The law has been amended to speed up the recovery of VAT on unpaid invoices.
  • If you meet the requirements to apply freedom of depreciation in  2009 and 2010, it may be more favourable to calculate the amount of the payments in instalments for corporate income tax purposes on the basis of the tax base for the period.
  • In the event of cash difficulties, it is advisable to bear in mind the existence of other forms of payment of tax and social security debts such as offset against recognised credits or deferral or payment in instalments.

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Number 1

What you need to know about your business in times of crisis. Prepared by Landwell-PricewaterhouseCoopers

In just 10 seconds:

boletín 10 minutos - número de marzo de 2009
  • The first-time application of the new Chart of Accounts will have far-reaching tax implications for many companies. The effects may be deferred for three years.
  • Tax on corporate transactions involving restructurings. No tax will be levied on the formation of permanent establishments of entities resident in other EU Member States.
  • The monthly VAT and IGIC refund system is generalised.
  • Guidelines are set to establish the market value of related-party transactions and documentation obligations are regulated, non-compliance with which may trigger serious penalties
  • Investments in new assets in 2009 and 2010 may be freely depreciated if the number of jobs is maintained.

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Of interest

  • What are the implications of applying the monthly VAT and IGIC refund regime?
  • Are there more advantages to setting up a branch in Spain now?
  • What are my documentation obligations under new related-party transaction legislation ?
  • What does freedom of depreciation mean and when will I be able to apply it ?
  • How do you want to play the game? See www.pwc.com/es

You will find the answers to these questions in the current edition of  10 Minutos: