In 2013, the United Kingdom and Spain renewed their double taxation agreement. Created in 1976, this agreement between the two nations defines how individuals should be taxed in the case of the following two scenarios: the impact of the convention on double taxation on you depends on your individual circumstances. In addition, tax rates and tax breaks may change. That`s why we strongly recommend that you seek professional advice on how to ensure that you comply with taxes in the UK and Spain. Finally, the theory is that a person should not pay twice for the same income. Therefore, if you are in one of these two categories, you can deduct one tax return against the other with the double taxation agreement (by deductions and allowances); This means that you should not end up paying too much in your “State Party.” The Double Taxation Convention protects its members from income: at Lusa Legal, we want to help you understand Spanish tax law, in particular the double taxation convention. If you understand how this agreement works and how it has a specific impact on you, you will be better able to take full advantage of all the benefits and avoid unnecessary taxes. Lusa Legal`s international team of legal experts can provide you with the correct tax forms and help you complete and submit them in a timely manner. We are available to answer your questions. Contact us today and let us help you: `34 607 29 44 28.
This version of the tax treaty1 between the two nations – the latest in a series of amendments since its inception in 1976 – was made to determine where an individual should be taxed on different “income, profits or profits”; In particular, where that person is established in both countries (which, in the Convention itself, is rather called “contracting states”), or resides in one country, but has income from assets in the other. The 24-party double taxation convention defines taxes that can be reduced in both countries. In Spain, the general objective of the double taxation convention is to make life, work and investment in Spain more attractive and less expensive for foreigners. This contract can help save thousands of euros in taxes for an average person or company, but understanding the rules and rules that govern this contract can be a daunting and often confusing task. A good understanding of the Spanish double taxation convention is essential to ensure that you are fully using this contract, and our legal team is here to explain all the details. The Double Taxation Convention is an agreement between many countries around the world that protects individuals and businesses from having to pay the same taxes in several different countries. The implementation of the double taxation Spain, with the intention of making life, work and investment in Spain, a more attractive and less expensive prospect for foreigners and provides appropriate guidelines to determine in which country a person or company is responsible for paying certain taxes. The Double Taxation Agreement came into force on June 12, 2014. 1 assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/507409/spain-dtc_-_in_force.pdf As you will see, on this blog, I pause on the cost of living in Spain to talk about a topic I promised to follow a few weeks ago in an article on Spanish residence: the double taxation agreement between the UK and Spain. Hello I have the same problem, my municipal pension is taxable in Britain. This year received letters from the Tax Office, which was tax-related in 2015 as well as interest. Subsequently, I was fined for late payment because I was from the country and did not receive the letter until I returned.