(07/18/2023) The new Balearic Islands Government has approved the first Decree Law that modifies the effective taxation of inheritance and gift tax as well as the tax on property transfers.
SUMMARY OF THE REFORM:
Objectives of the reform:
To facilitate transfers of wealth between immediate family members and reduce the tax burden on these transactions.
Stimulate the purchase of homes for young people and people with disabilities, as well as for large families and single-p...
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Impuestos
Special regime Balearic Islands 2023-2028
The seventieth additional provision of the LPGE for 2023 introduces the special tax regime of the Balearic Islands with effect for tax periods beginning between January 1, 2023 and December 31, 2028
SUMMARY OF THE SPECIAL REGIME OF THE BALEARIC ISLANDS:
The reserve for investments in the Balearic Islands offers tax benefits to corporate income tax and non-resident income tax payers who allocate part of their profits to this reserve, provided that they come from establishments locate...
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Deadlines for submitting self-assessments by direct debit
The deadline for submitting self-assessments with direct debit will depend on the end of the submission deadline for each model.
If the expiration of the submission period coincides with a non-business day, the period ends on the first following business day and the direct debit period will generally be extended by the same number of days that the submission period for said declaration is extended. Below are the general and direct debit deadlines for each model, corresponding to the year 2023...
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