Category : Taxation

Taxation News Professional

Rental fees for professionals

By dneutiens@segurantis.com

ELECTRICITY AND WATER COSTS OF A RENTED OFFICE, BAR....

In order to declare these expenses and deduct VAT, the invoice must be in your name:

IF THE INVOICE IS IN THE NAME OF THE OWNER:

1º You can deduct the costs of electricity and water, even if they are in the name of the owner, because there is a binding rental contract.

But the payment of the invoice must be domiciled on the account of the self-employed tenant, in order to have the proof of payment by bank account.

In case of inspection, you should have the rental contract + a copy of the invoices declared + the proof of the debit in your account.

2º Additional costs to the rent bill = If you have to pay the Suma, community contribution, this way of working also applies.

SUMMARISED

The owner will include in the rental invoice the total amount of the water or electricity bill (before IVA/VAT) and this will apply to the total amount + VAT 21% and - retencion/ withholding of 19%.

For example

The rent is 800 (without VAT 21% and without the application of the retention 19%)

The water bill is € 25 (before taxes)

The electricity is €100 (before tax)

The owner must draw up an invoice for the rent + costs = €925 and VAT and withholding are applied to this.

What can Segurantis do for you?

Go to the overview of our services.

Crypto Financial Tax News

Spanish wealth tax

By dneutiens@segurantis.com
People photo created by bearfotos - www.freepik.com

Spanish wealth tax is applicable to residents

If you are a permanent resident in Spain and have assets of at least EUR 500,000, it is best to check whether you are eligible for the wealth tax. 

There is an exemption limit and it can differ per autonomous community. Generally, the exemption limit is 700,000 euros, from which you may deduct your own home up to a maximum of 300,000 euros. But in some communities, such as Catalonia, the exemption limit is 500,000 euros. There are 17 federal states in Spain so keep this in mind.

In order to determine that you have to file a tax return on your assets, you will have to attach a value to your assets, which is determined annually on 31/12/.... of the calendar year. So, for example, you will have to determine a value for investments (shares, funds, ...), but also other forms of investments including crypto coins. It is your responsibility to reflect that value correctly.

If the sum of your investments, real estate (minus own home) exceeds the exemption limit, you will have to submit a wealth tax return.

What can Segurantis do for you?

Go to the overview of our services.

Taxation Non-residents News

Non-residential tax - M210 - 2021

By dneutiens@segurantis.com

THE ANNUAL NON-RESIDENT TAX ALSO KNOWN AS THE 210

If you are a non-resident in spain and you own a property (-men), you have to file the non-resident tax declaration(model 210). This tax declaration must be made once per calendar year and is calculated on the previous calendar year. The declaration must be filed and paid between 01 January and before 31 December.

Depending on the value of the property (calculated on the land register value) you will have to pay a corresponding tax, the annual non-resident tax. This is NOT the IBI or SUMA, the IBI or SUMA is a land registry tax that also has to be paid annually and is levied on the property. The non-resident tax is a tax that affects the owner(s) of the property.

Each owner must do this accordingly according to his % share of ownership. For example a married couple is usually 50%-50% owner so 2 declarations. For example, if there are 4 owners (parents and 2 children, each owning a share), then 4 will have to make a declaration according to the proportion of their property in the whole.

We can take care of this for you and if you wish please read the instructions below.

What do we need?

Documents:

  • Copy of the NIE and PASSPORT / IDENTITY CARD of ALL owners  
  • Copy of the deed of ownership (-men) (this is called the escritura)
  • Your permanent address (outside Spain)
  • The last SUMA note(s)
  • Spanish bank account / Foreign account with IBAN and BIC

For those who have already made a declaration through us, please send ONLY the latest SUMA ticket(s). Please let us know if there are any changes in your situation.

Deadline - the latest date on which we will submit your file:

  • On 30 November we will close the files
  • On 15 December we will submit the final files

IMPORTANT

If you would like the payment to be made by automatic order through your bank account (only possible through a Spanish account), please provide sufficient provision on your account so that the automatic payment made at the turn of the year can be made correctly. If you no longer have a Spanish account, we will ask you to transfer the amount due to our company account so that we can settle it.

If you would like us to take care of this task for you, go to the contact form to submit your request:

What can Segurantis do for you?

Go to the overview of our services.

Taxation Professional

Expansion of car use as an expense

By dneutiens@segurantis.com

Hacienda is looking everywhere to earn an extra penny, and for the self-employed this usually goes hand in hand with revisions of expenses. The car and the use of mobile phones is one of these points of attention that Hacienda is taking a closer look at. Below, we briefly discuss a few points of attention in order to be able to book a car as an expense:

  • The car must be on the name and the NIE number of the autonomo to be brought in as a cost
    • Each invoice must contain the name of the autonomo and the number plate of the car must be on the invoice:
      • fuel
      • maintenance
      • tyres
      • advertising
    • The taxes assume that you have 2 cars (even though in reality you do not). One car exclusively for work and one for private use. This is the only way to recover (almost) 100% of the costs for the car you use for work.
      • If you have only one car (work and private), an inspection may assume that the invoices submitted have not distinguished between private and work and will consider the cost of the car as erroneous and make a revision of your taxes with all the consequences including; refund of the costs incurred and a fine.
    • Provide your car used for work with advertising material of your business or activity. In this way, you increase the credibility of the fact that you use the car solely for work.
    • Each journey you make for, with or to customers should be documented so that you can account for the cost of fuel, tolls and any snacks/meals that you consume during these journeys.

What can Segurantis do for you?

Since 2021, we only provide support for Autonomo start-ups. You can find more information under the heading services.

Taxation Non-residents News

Declaring your foreign property

By dneutiens@segurantis.com

The Belgian tax authorities have new rules regarding your foreign property

If you have indicated your property abroad in your last personal income tax return, you will have to declare this property again this year but will have to provide additional information. This is due to a change in the law regarding the taxation of this income.

If you own one or more immovable properties abroad on 01/01/2021, in whole or in part, you must declare them before 31/12/2021. How to declare these goods is explained on the website of the Federal Public Service Finance, of which you will find the link below.

It is important that you pay attention to the following facts:

  • A declaration must be filed per good or group of goods
  • Goods held in community each have to be declared separately
  • Goods that are disposed of must be reported by return post or by e-mail.

For more information, consult the website of the Federal Public Service Finance: https://financien.belgium.be/nl/particulieren/woning/kadaster/kadastraal-inkomen/kadastraal-inkomen-van-het-buitenland-gelegen

What can Segurantis do for you?

We assist customers in completing their non-resident tax returns. If you need more information, please contact us.

Taxation News Resident

Non-residents tax return

By dneutiens@segurantis.com

Non-residents tax - Belgians

The following information can be found at : https://financien.belgium.be/nl/particulieren/belastingaangifte/niet-inwoners/aangifte#q1

You live abroad (not in Belgium) and you have/receive income from Belgium (e.g. a salary, a pension, rental income) => you have to file a "non-resident tax return".

Declaration 2021:

  • From the end of September 2021, we will send out the paper returns.
  • As from 15 September 2021, you will be able to submit the declaration via MyMinfin (Tax-on-web).

Why have I received a non-resident tax return?

We have established that you (and possibly your partner) had Belgian income during the previous calendar year: for example, a salary, a pension, rent, etc.

Please refer to the notes (p.1 and 2) for more information on this revenue.

You must therefore file a non-resident tax return in Belgium. In it, you must state all your Belgian income in 2019.
 

Will I have to pay tax?

This depends on your income, your situation and the country you live in.

In certain cases, Belgian income is exempt from tax in Belgium. This means that even if you submit a return that mentions income, you do not have to pay tax.

After you have filed your tax return, you will receive an 'assessment notice'. This will state whether or not you have to pay a tax (or whether you will be refunded an amount).

For more information visit the website of Financien.belgium.be

What can Segurantis do for you?

We assist customers in completing their non-resident tax returns. If you need more information, please contact us.

Expatgestoria Financial Taxation News Resident

Spanish personal income tax and payments

By dneutiens@segurantis.com

Payment periods and what if the payment is not made

The Spanish personal income tax declaration period is over. The last day to submit the declaration within the legal deadline fell on 30 June of this calendar year. This concerns the personal income tax of both residents and Spaniards. The declaration is about the income obtained in the previous calendar year.

You have not made a declaration? You can still make a declaration, but this is of course outside the normal legal term. In Spanish, this is called Fuera de plazo. Fines and negligence interest can be applied. Simply not declaring is better avoided. Even if you don't have to pay taxes in Spain (origin of income or below the threshold) as a resident (not Spanish) you should still make a declaration (*the reasons for this are very diverse).

I have to pay taxes but nothing has gone out of my account yet? If you did not have enough money in your account the payment will not go through. You will then have to apply for an NRC through your bank or through the Certificado digital through your fiscal representative for the Carta de pago from the moment you are recognised within Hacienda as a "non" payer (this can sometimes take several weeks).

You are paying in instalments? Then you will first receive from Hacienda an answer of approval (or refusal) to grant you this right. This form states how many times the payment will be withdrawn from your account and the corresponding interest. It can sometimes take a while before you are notified of this.

Tip: Do not go on your own initiative to pay your taxes if you think a mistake has been made. First seek advice from your tax representative or a local Hacienda office.

What can Segurantis do for you?

Every year we help many residents to fill in their Spanish declaration. It is important to know that when you stay more than 183+1 days in Spain you will be considered by the Spanish tax authorities as tax resident with all the fiscal consequences that come with it. When you are tax resident in Spain but you receive income from outside of Spain you might have to fulfil tax obligations in these countries on a yearly basis.

Expatgestoria Taxation Professional

Increased use of cash for professionals

By dneutiens@segurantis.com

Scaling back use of cash when invoicing

The annual invoices (one invoice or several) that go to one and the same customer (resident or Spanish national) and that exceed EUR 1,000. 00 may no longer be paid in cash. The previous limit of 2.500,00 Euros is no longer valid. The sums will have to be received via a bank transfer or another recognised digital way.

Please note that invoices to non-residents are still possible up to EUR 10,000.00. However, an invoice must be drawn up and it must be clearly stated that the amount was received in cash.

If this rule is not observed and Hacienda makes an inspection, fines of up to 20% of the total amount invoiced may be issued.

If you have any questions on this subject, please contact your accountant or consult one of the Hacienda offices.

What can Segurantis do for you?

Since 2021, we only provide support for Autonomo start-ups. You can find more information under the heading services.

Financial Taxation Resident

Closure of the Spanish personal income tax file

By dneutiens@segurantis.com

Do not forget your Spanish tax obligations as a resident

We inform you that the files for the submission of the annual Spanish Personal Income Tax are closed. Customers who have not yet received the result of the calculation will receive it soon as the last files are being finalised.

Towards next year we will no longer accept files from outside the communidad Valencia and Murcia. These persons better look forward to a local office for their tax obligations.

Remember that if you receive income from a country other than Spain, you will probably still have obligations to that country. Consult the tax authorities of that country on what to do.

What can Segurantis do for you?

Go to the overview of our services.

Taxation News Resident

Personal income tax return for residents 2021 - assessment year 2020

By dneutiens@segurantis.com

Spanish personal income tax / the Model 100 / the IRPF

Dear customer - new customer

I am in contact with you for the subject of the Spanish Personal Income Tax / the Model 100 / the IRPF. This is an annual tax matter and is expected of you if you are a tax resident in Spain.

If you are not a fiscal resident but you are living permanently in Spain then as a resident (non-Spaniard) it is advisable to submit a declaration, even if it is a "0" declaration. In this way you will prove to Spain that you are not taxable in Spain and you will have a fiscal proof that you are living in Spain.

Again a lot of Belgians, Dutch and French became resident in Spain last year. Based on the number of days they are registered in Spain, they will or will not start this year with the filing of the Spanish personal income tax return.

What do we need from you in order to make this claim?

For existing customers

As every year, send us the pension slips or income slips you receive from the countries from which you have an income.

For new customers

Below we have placed a link which gives you more information about this service.

Timetable

The information is collected in May of the current calendar year. In June we start with the declaration. The last declarations are submitted on 25 June of the current calendar year.

Important notes

Do not forget that you also have obligations towards Belgium, the Netherlands or other countries from which you receive an income. Below, I give you the links of the obligations towards the Belgian population (if you are from the Netherlands, Luxembourg or another country, please contact your national authorities).

NEW CALENDARS - LEAVING BELGIUM - PENSIONS AND SOCIAL SECURITY

=> https://financien.belgium.be/nl/particulieren/internationaal/belgie-verlaten

=> http://ccff02.minfin.fgov.be/webForm/public/inrbni/inrBni.jsf

=> https://www.socialsecurity.be/CMS/nl/leaving_belgium/index.html

Changes compared to last calendar year

Below is the table of income brackets and the tax due per bracket in relation to the percentage that the tax authorities take. There are still exemptions applicable and age and family situation also determine what you ultimately owe. New this year is the bracket of above 300,000.00 euro income.

Would you like Segurantis to take care of this for you?

Please use the form below to let us know. We will contact you as soon as possible.