Our team of lawyers has extensive experience providing advice on wealth tax management
From Gimenez-Salinas we offer a comprehensive assessment in the areas related to the taxation of particulars (professionals, senior managers, entrepreneurs), familiar business groups, and local and foreign investors.
We have counseled both individuals, companies, and family businesses, from the preliminary tax planning to avoid contingencies and defining investment strategies or advising in transfers or companies and equities, to the contentious stage in verification or inspection files on VAT, Income Tax, Corporate Tax, Stamp Duties, Property Transfer Tax, businessmen liability, etc.
Particularly we have counseled complex contentious proceedings with the Tax Agency, which are processed under administrative appeals before the TEAR (Regional Economic-Administrative Court) or in the contentious-administrative jurisdiction.
“Comprehensive assessment in taxation, since 1941”
More than 78 years of experience giving legal advice and defending companies, individuals, and groups certifies the legal path of Giménez-Salinas Law Firm. An invaluable experience that we apply to all our cases and clients.
Throughout our professional experience, we have handled hundreds of conflicts in many different sectors and areas of law. We have a highly qualified and multidisciplinary team of lawyers and attorneys.
One of the characteristics that define us is offering our clients a personalized service, our clients are informed on every stage of their cases and have a direct relationship with the lawyers or attorneys who handle their affairs.
Individuals and entities are taxed in their state of residency on all income obtained, regardless of where it is obtained. On the other hand, non-residents are taxed only on income obtained in Spain. Therefore, the determination of tax residency is a key criterion to apply tax rules and, on occasions, it becomes an important source of conflict between the taxpayer and the tax authorities. In addition, the determination of tax residency has a great influence on many connected subjects as the accrual of the exit tax, of capital gains subject to deferrals, or the possible application of special tax regimes related to senior managers linked to international mobility (for example, the impatriate regime- known as the Beckham Law), that allows very attractive income taxation and the possibility of paying capital gains tax only on assets located in Spain.
DO YOU HAVE TAXATION PROBLEMS?
DO YOU HAVE TAXATION PROBLEMS?
Real estate and the rights constituted over it are subject to very special attention from the tax legislator.
In the tax department, we have extensive experience advising all kinds of transactions involving real estate, regarding both local and foreign private investors and for real estate development and construction groups within their economic activities.
RESTRUCTURING AND REORGANIZATION OF FAMILY-OWNED GROUPS
Sometimes certain family groups have grown focusing solely on the business and neglecting the legal structure of the group and generating costs and complicating the tax efficiency of the group as it is not able to fully or partially apply for the tax benefits foreseen for family businesses regarding capital gains tax and Inheritance and Donations taxes.
In the tax department, we analyze the possibility of simplifying and rationalizing the structure to reorganize the group’s activities and assets, evaluating the fiscal costs of the transition from the starting point to the ideal situation. If some requisites are met, such reorganization could be done without any fiscal costs and taking advantage of the special regime of the business restructuring (Special regime for mergers, spin-offs, contributions of assets, exchange of securities).
This kind of analysis is in great demand by family groups concerned about the generational succession of the business.
ESTATE AND SUCCESSION PLANNING
One of the greatest concerns to owners of wealth (business and non-business wealth) is transferring such wealth to their closest relatives (normally spouse and children) at the lowest tax cost.
For that is necessary to carry out an appropriate tax wealth plan which includes, among other issues, an assessment regarding the advisability of inter vivos transfers (via donation) or mortis causa (via inheritance), or the use of typical inheritance law institutions (wills, distribution in legacies, inheritance agreements, or assignment of full properties or divisions between bare properties and usufructs, etc.).
FINANCIAL PRODUCTS TAXATION
Many investors have diversified investments in different financial products that may offer similar gross returns but are subject to different tax treatments, which can lead not only to very different net returns but also to an unexpected impact on Wealth Tax.
For this reason, from the tax department, we analyze the taxation of each financial product that makes up the investment portfolio (from shares, funds, unit-link insurances, etc.) from a global perspective, making recommendations of investment and divestment of products that allow us to optimize the portfolio from a tax point of view.
Non-residents holding assets linked to Spanish territory are normally subject to taxation in Spain both for the income deemed to be generated in Spain and for the holding of such assets. As a general rule and according to certain limits, non-residents may be able to deduct taxes paid in Spain in their countries of residence.
In its practical application, many investments by non-residents have been made in the real estate sector. In our department, we have extensive experience in advising on real estate transactions carried out by non-residents.
We handle inspections and filing claims and contentious-administrative appeals.
The tax department has extensive experience in the verification, management, and inspection procedures carried out by the Tax Administration, relating wealth, inheritance and property taxation, as well as the preparation of appeals and claims in subsequent administrative or contentions-administrative instances.
ARTICLES ON TAX
A Lleida company was engaged in two distinct commercial activities and wanted to transfer one of them to a third party (an activity consisting in manufacture and marketing of algae extracts for agricultural purposes). The task consisted in calculate the taxation for...
A Qatari investor wants to open two lines of business: one of property management and the other one of investment in real estate for rent. The investments will be located in the United Kingdom (London), Spain (Barcelona) and Germany. Our role consisted of finding the...
We have broad experience in Treasury inspections, appeals and claims. More common cases are related to asset lreorganizations of family groups. Most recent: a) The defense of valid economic reasons for operations prior to a family reorganization aimed at laying the...
“We offer our clients a humane and close treatment, so that clients have direct knowledge, contact and relationship with the lawyers who handle their matters. “