Answers to Frequently Asked Questions

In Spain, Modelo 718, also known as the Solidarity Tax Large Fortunes, holds importance for individuals with substantial wealth, as it requires contributions to support social programs and government expenditures. Understanding its implications is crucial for compliance and avoiding penalties.

Modelo 720 is an informative declaration required for residents in Spain to disclose foreign assets exceeding certain thresholds by March 31st, with significant penalties for non-compliance; it involves detailed reporting on bank accounts, properties, and investments, and fees for assistance with filing vary depending on the complexity of the declaration.

Explore everything you need to know about the Spanish exit tax – a tax obligation arising when changing fiscal residency. This guide looks into its applicability, implications, and strategies to mitigate its impact. For Spanish high-income earners and entrepreneurs, it offers insights to effectively navigate these tax challenges.

Hiring an accountant in Spain is crucial for navigating complex tax obligations and bureaucratic processes, ensuring compliance and freeing up time for business focus, while apps or cheap services may lack personalized support and understanding of local requirements.

In today’s business world, effective financial management is essential for growth. Outsourced accounting services offer a cost-effective solution to optimize operations and leverage expertise.

In Spain, having a local bank account is crucial for managing utilities, mortgages, and taxes, making it practically unavoidable for long-term residents or those planning to invest or start a business. Opening an account, whether as a resident or non-resident, is straightforward, but conditions may vary between the two types of accounts.

In Spain it is important to issue invoices correctly and to make sure that received invoices are correctly issued by your providers.

Insuring business risks in Spain can be challenging, especially for international companies. This guide covers essential insurances such as Workers Compensation, Civil Liability, Property Insurance, and Business Interruption Insurance. It also explains how Spain’s natural disaster pool, the Consorcio de Compensación de Seguros, handles risks like floods and wildfires, ensuring businesses are well-informed about their insurance needs.

In today’s digital era, the transformation of invoicing practices is inevitable. With Spain mandating the shift towards electronic invoicing, ACCOMPANY stands ready to lead businesses into this futuristic realm of streamlined transactions.

VAT, a significant indirect tax in Spain, influences the prices of goods and services. It’s collected by businesses and paid to the tax office, with varying rates applied to different products and services.

This paper is to clarify the frequently asked question: “What expenses can I deduct for my business?”. Often there is a bit of confusion on certain items like professional expenses at home, the car, the mobile phone, travel, meals and clothes. This paper will clarify all of them.

A digital signature or digital certificate or ID is your passport for online transactions and gives you the ability to communicate, complete applications and handle administrative or legal procedures from wherever you are.

A collaborative cloud based platform

Our Payroll Portal is a collaborative cloud based platform that facilitates receiving and distributing payslips, time management (presence, absence, clock in, clock out, shift planning), talent management (selection, training, internal communication) and more..