News for fiscal 2014

NEWS FOR FISCAL 2014

Then inform them of some of the most significant tax developments recently published (Law 22/2013 of PGE, RD-Law 1/2014 Royal Decree 1042/2013, among others) that come into force on 1 January 2014 with one exception which says:

- It extends to 2014 the application of the supplementary tax on the gross national income tax and therefore keep the fee increases retention. Remains also rise 19% to 21% the percentage for payments of art and .101 art.92.8 the LIRPF (such as investment income (interest) income from the lease or sublease of real estate urban ...) and efficiencies professional activities. remains also the 42% withholding rate for administrators and members of council administration.

- In the same vein, the income tax also keeps raising the general rate of withholding or payment on account of 19% to 21%.

- The Revenue Department has issued instruction 6/2013 involving inadmissibility, in general, the requests for postponement or fractionation withholdings and payments on account, and can only be granted in exceptional cases provided for tax regulations.

- Extends the application of the 2014 tax rate reduced maintenance or job creation in micro planning for income tax (20% rate on taxable section between 0 and € 300,000 for the remaining 25% basis). extends also reducing 2014 net income of economic activities for the maintenance or creation of jobs expected 20% in income tax.

- Extension 2014 tax treatment given to the costs and investments for employees accustomed to the use of new communication technologies and information on personal income tax and corporate

- It extends valid during the 2014 Tax Assets.

- Extend the deadline to be eligible for special arrangements in case the criterion of VAT (Recco) for 2014 to 31 March 2014 and will take effect from the first settlement period that begins with after the date on which the option has been exercised. Also, remember that taxpayers not covered by Recco but that is the target of the operation which applies the special scheme shall include in the record book of invoices received payment dates of the lease indicating separately the amount paid and indicate the means, and shall deduct the tax at the time of full or partial payment of the price, or December 31 of the year immediately following that in which s' have made the transaction if payment has not been made.

- As of 01-01-2014, the provision of welfare services, custody and care of children conducted by public entities or private institutions or organizations of a social nature are exempt from VAT, whatever their age.

- Eliminates the special rules of accrual of VAT on intra-Community transfers of goods, so that accrual will not occur in the time to start issuing or transportation of goods in the Member State of origin, but, according to the general rule of accrual intra deliveries of goods, the 15th of the month following that in which dispatch or transport begins this or the date of issue of invoice whichever is .

- Reduce 21% to 10% rate of VAT applicable to imports of works of art, antiques and collectibles, as well as intra-Community acquisitions and deliveries of art objects, when delivery be effected by their authors or right holders and business resellers not entitled to full deduction of input tax. The amendment shall enter into force on 26 January 2014.

- The general CPI annual December 2013 stood at 0.3% (INE).

For any clarification or extension information please contact our office.