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Follow on Google News | Spain 2014 Budget Now in Effect: Update from Nair & Co. Tax TeamThe 2014 Budget published by the Spanish government is now applicable as of 1 January 2014. The budget includes a long-term strategy targeting employee training, advance payments regulation and much more under corporate income tax, reports Nair &
By: Nair & Co. Significant highlights of the changes included in the regulatory framework of corporate and individual taxation are as follows: Corporate taxes * Extended tax measures to 2014: * Small entities that maintain or create new jobs will be eligible for a reduced tax rate. * In order to benefit employee training in new information technologies, tax incentives will continue to be granted on expenses and investments made by such companies. * New rules have been introduced for advance payments. * New coefficient applicable to the acquisition cost while transferring immovable assets. Individual income taxes * Tax credits are extended for expenses and investments related to in information technology job training. * An extension is provided to supplementary surcharges which were introduced for the year 2012 and 2013. Non-residents’ * Income tax rates set for 2012 and 2013 are now extended to 2014. For more information about doing business overseas (http://www.nair- Subscribe (http://www.nair- Get the latest news releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts (http://www.nair- About Nair & Co. Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point- Media Contacts: For media enquiries or to learn to more about Nair & Co., please email us at media@nair-co.com or call Yvonne Smith at +1.408.501.8867 End
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