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Taxation In Spain
Taxes in Spain are levied by national (central), regional and local governments. Tax revenue in Spain stood at 36.3% of GDP in 2013. A wide range of taxes are levied on different sources, the most important ones being income tax, social security contributions, corporate tax, value added tax; some of them are applied at national level and others at national and regional levels. Most national and regional taxes are collected by the Agencia Estatal de Administración Tributaria which is the bureau responsible for collecting taxes at the national level. Other minor taxes like property transfer tax (regional), real estate property tax (local), road tax (local) are collected directly by regional or local administrations. Four historical territories or foral provinces ( Araba/Álava, Bizkaia, Gipuzkoa and Navarre) collect all national and regional taxes themselves and subsequently transfer the portion due to the central Government after two negotiations called Concierto (in which the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Revenue
Tax revenue is the income that is collected by governments through taxation. Taxation is the primary source of government revenue. Revenue may be extracted from sources such as individuals, public enterprises, trade, royalties on natural resources and/or foreign aid. An inefficient collection of taxes is greater in countries characterized by poverty, a large agricultural sector and large amounts of foreign aid. Just as there are different types of tax, the form in which tax revenue is collected also differs; furthermore, the agency that collects the tax may not be part of central government, but may be a third party licensed to collect tax which they themselves will use. For example, in the UK, the Driver and Vehicle Licensing Agency (DVLA) collects vehicle excise duty, which is then passed on to HM Treasury. Tax revenues on purchases come in two forms: "tax" itself is a percentage of the price added to the purchase (such as sales tax in U.S. states, or VAT in the UK), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Withholding Tax
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income. Many jurisdictions also require withholding taxes on payments of interest or dividends. In most jurisdictions, there are additional tax withholding obligations if the recipient of the income is resident in a different jurisdiction, and in those circumstances withholding tax sometimes applies to royalties, renting, rent or even the sale of real estate. Governments use tax withholding as a means to combat tax evasion, and sometimes impose additional tax withholding requirements if the recipient has been delinquent in filing tax returns, or in industries where tax evasion is perceived to be common. Typically, the withheld tax is treated as a pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expatriate
An expatriate (often shortened to expat) is a person who resides outside their native country. The term often refers to a professional, skilled worker, or student from an affluent country. However, it may also refer to retirees, artists and other individuals who have chosen to live outside their native country. The International Organization for Migration of the United Nations defines the term as 'a person who voluntarily renounces his or her nationality'. Historically, it also referred to exiles. The UAE is the country with the highest percentage of expatriates in the world after the Vatican City, with expatriates in the United Arab Emirates representing 88% of the population. Etymology The word ''expatriate'' comes from the Latin words and , from , . Semantics Dictionary definitions for the current meaning of the word include: :Expatriate: :* 'A person who lives outside their native country' (Oxford), or :* 'living in a foreign land' (Webster's). These definitio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Of Madrid
The Community of Madrid (; ) is one of the seventeen autonomous communities and 50 provinces of Spain, provinces of Spain. It is located at the heart of the Iberian Peninsula and Meseta Central, Central Plateau (); its capital and largest municipality is Madrid. The Community of Madrid is bounded to the south and east by Castilla–La Mancha and to the north and west by Castile and León. It was formally created in 1983, in order to address the particular status of the city of Madrid as the capital of the Spanish State and in urban hierarchy. Its boundaries are coextensive with those of the province of Madrid, which was until then conventionally included in the historical region of New Castile (Spain), New Castile (''Castilla la Nueva''). The Community of Madrid is the third most populous in Spain with 7,058,041 (2024) inhabitants, roughly a seventh of the national total, mostly concentrated in the metropolitan area of Madrid. It is also the most densely populated autonomous comm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cantabria
Cantabria (, ; ) is an autonomous community and Provinces of Spain, province in northern Spain with Santander, Cantabria, Santander as its capital city. It is called a , a Nationalities and regions of Spain, historic community, in its current Statute of Autonomy. It is bordered on the east by the Basque Country (autonomous community), Basque autonomous community (Biscay, province of Biscay), on the south by Castile and León (Province of León, provinces of León, Palencia (province), Palencia and Province of Burgos, Burgos), on the west by the Asturias, Principality of Asturias, and on the north by the Cantabrian Sea, which forms part of the Bay of Biscay. Cantabria belongs to ''Green Spain'', the name given to the strip of land between the Bay of Biscay and the Cantabrian Mountains, so called because of its particularly lush vegetation, due to the wet and temperate oceanic climate. The climate is strongly influenced by Atlantic Ocean winds trapped by the mountains; the averag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Deduction
A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable income, while credits reduce tax. Above and below the line Above and below the line refers to items above or below adjusted gross income, which is item 37 on the tax year 2017 1040 tax form. Tax deductions above the line lessen adjusted gross income, while deductions below the line can only lessen taxable income if the aggregate of those deductions exceeds the standard deduction, which in tax year 2018 in the U.S., for example, was $12,000 for a single taxpayer and $24,000 for married couple. Limitations Often, deductions are subject to conditions, such as being allowed only for expenses incurred that produce current benefits. Capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxable Income
Taxable income refers to the base upon which an income tax system imposes tax. In other words, the income over which the government imposed tax. Generally, it includes some or all items of income and is reduced by expenses and other deductions. The amounts included as income, expenses, and other deductions vary by country or system. Many systems provide that some types of income are not taxable (sometimes called non-assessable income) and some expenditures not deductible in computing taxable income. Some systems base tax on taxable income of the current period, and some on prior periods. Taxable income may refer to the income of any taxpayer, including individuals and corporations, as well as entities that themselves do not pay tax, such as partnerships, in which case it may be called “net profit”. Most systems require that all income realized (or derived) be included in taxable income. Some systems provide tax exemption for some types of income. Many systems impose tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Treaty
A tax treaty, also called double tax agreement (DTA) or double tax avoidance agreement (DTAA), is an agreement between two countries to avoid or mitigate double taxation. Such treaties may cover a range of taxes including income taxes, inheritance taxes, value added taxes, or other taxes. Besides bilateral treaties, multilateral treaties are also in place. For example, European Union (EU) countries are parties to a multilateral agreement with respect to value added taxes under auspices of the EU, while a joint treaty on mutual administrative assistance of the Council of Europe and the Organisation for Economic Co-operation and Development (OECD) is open to all countries. Tax treaties tend to reduce taxes of one treaty country for residents of the other treaty country to reduce double taxation of the same income. The provisions and goals vary significantly, with very few tax treaties being alike. Most treaties: * define which taxes are covered and who is a resident and eligible ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alien (law)
In law, an alien is generally any person (including an organization) who is not a citizenship, citizen or a nationality, national of a specific country, although definitions and terminology differ across legal systems. Lexicology The term "alien" is derived from the Latin '. The Latin later came to mean a stranger, a foreigner, or someone not related by blood. Similar terms to "alien" in this context include ''foreigner'' and ''lander''. Categories Different countries around the world use varying terms for aliens. The following are several types of aliens: * legal alien any foreign national who is permitted under the law to be in the host country. This is a very broad category which includes travel visa holders or foreign tourists, registered refugees, temporary residents, Permanent residency, permanent residents, and those who have Renunciation of citizenship, relinquished their citizenship and/or nationality. Categories of legal alien include ** temporary resident alien an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Residence
The criteria for residence for tax purposes vary considerably from jurisdiction to jurisdiction, and "residence" can be different for other, non-tax purposes. For individuals, physical presence in a jurisdiction is the main test. Some jurisdictions also determine residency of an individual by reference to a variety of other factors, such as the ownership of a home or availability of accommodation, family, and financial interests. For companies, some jurisdictions determine the residence of a corporation based on its place of incorporation. Other jurisdictions determine the residence of a corporation by reference to its place of management. Some jurisdictions use both a place-of-incorporation test and a place-of-management test. Domicile is, in common law jurisdictions, a different legal concept to residence, though the place of residence and the place of domicile would typically be the same. The criteria for residence in double taxation treaties may be different from those of d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Spain
The government of Spain () is the central government which leads the executive branch and the General State Administration of the Kingdom of Spain. The Government consists of the Prime Minister and the Ministers; the prime minister has the overall direction of the Ministers and can appoint or terminate their appointments freely. The ministers also belong to the supreme decision-making body, known as the Council of Ministers. The Government is responsible before the Parliament (), and more precisely before the Congress of the Deputies, a body which elects the Prime Minister or dismisses them through a motion of censure. This is because Spain is a parliamentary system established by the Constitution of 1978. Its fundamental regulation is placed in Title IV of the Constitution, as well as in Title V of that document, with respect to its relationship with the , and in Law 50/1997, of 27 November, of the Government. According to Article 97 of the Constitution and Article 1.1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
