New agreement to avoid double taxation between Spain and United Kingdom
New agreement to avoid double taxation between Spain and United Kingdom
Past 15th May 2014, an Agreement to avoid double taxation and prevent tax evasion in the Income and Wealth tax between Spain and United Kingdom was published in the Spanish Official Gazette (BOE). It came into force on 12th June 2014.
With this update, both Governments have tried to adapt to the new times certain aspects that, considering that the last Agreement was signed in 1975, had become obsolete.
One of the most significant modifications and of a higher importance inside the population of expatriate living in Spain, is that the pensions coming form services provided to the UK Government, will be taxed in Spain, not in the UK, as before.
It is considered tax resident: a) considered resident individuals who spend more than 183 days per calendar; b) when the base or core of its economic activities are in Spain. To be a fiscal resident in Spain allows a number of significant advantages: as the medical attendance.
Please remember that if you comply with the requirements, you are obliged to present the Income Taxes. Please contact with our Law Firm ABAD & ASOCIADOS ABOGADOS Y ECONOMISTAS (www.abadabogados.com), via e-mail alcazares@abadabogados.com, and we will be informing you about our services regarding the Income Taxes.
Please bear in mind that you need expert hands. In Abad & Asociados Abogados y Economistas we are specialists in national and international taxation.
