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New Law for Self-Employed Persons in Spain

New-Law- for-Self-Employeed-Persons-in-Spain.jpg2017 came with improvements and important changes in the tax matters in Spain. The self-employed, no matter if they are locals or from abroad are subject to these changes, and in this article, we are going to explain a few important things. We remind that our Spanish lawyers can provide you with details about the taxes you need to consider when opening a company in the country. Besides that, you can ask for more information about our legal services.

Tax improvements for self-employed in Spain

The business environment in Spain has always been appreciated, and the authorities in the country implemented numerous reforms and incentives to develop this important field. 2017 comes with interesting changes, for instance, the freelancers or the sole traders established in Spain will pay the social security fee only one time for the entire year and that is a tax of about EUR 50. In the past, this kind of tax needed to be paid every six months. If the business develops, another tax will be enforced.
For additional benefits, the sole traders are recommended to pay the fees two years in advance. A new important measure which will be implemented starting this year implies the transportation and the utility expenses, where a deduction of 20% will be offered. We remind that our attorneys in Spain can offer complete assistance when registering a company in the country or if you want information about the needed documents as a self-employed.

New tax changes for self-employed societies in Spain

The self-employed who are part of different groups or societies may benefit from the reductions related to the social securities. It is good to know that the VAT remains the same for the moment, and that is a 21% tax rate. According to your business or activities, a self-employed might benefit from a 10% tax rate, and besides that, he/she can recover the VAT at the end of the fiscal year.
We invite you to contact our law firm in Spain for additional information about the tax changes for the sole-traders or self-employees established in the country.