No Results Found.
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.
Tax
Fornell Assessors provides comprehensive tax advice, with specialist support at every stage of the tax process.
Experts in tax advisory
Need an adviser? Contact us and we will help you.
The tax team at Fornell Assessors helps businesses, self employed professionals and individuals meet their tax obligations correctly and anticipate the tax implications of their decisions.
Our work goes beyond filing tax returns. We understand each client's situation, identify risks, establish consistent tax approaches and plan ahead for transactions that may have tax consequences.
We take a practical, personal approach to tax, coordinating our work with the accounting, financial and asset ownership circumstances of each case.
Related Services
Tax Planing
We review the company's tax position, planned transactions and decisions that may have tax implications well in advance to…
Corporate Income Tax
We prepare, review and plan Corporate Income Tax with an approach that goes beyond simply filing the return. We focus on…
VAT and indirect taxes
We manage and review VAT and indirect taxation with a practical operational focus, as this is one of the areas where errors are most common…
Related party transactions
We advise on transactions between companies in the same group, shareholders, directors and other related parties to ensure that…
Tax inspections
We support businesses through information requests, tax reviews and inspections with a calm, technical and well organised approach. In these situations…
International taxation
We provide support for transactions involving non residents, international customers or suppliers, and structures with an international dimension. The aim is…
How can we help you
Contact us to learn more about the scope of our services and find the solution best suited to your needs.
F.A.Q.
Here we answer questions on a range of tax matters. If you have any further questions, please contact us.
What does tax advisory include
It includes preparing and reviewing tax returns, tax planning, analysing tax risks, handling information requests and supporting decisions with tax implications.
When should a company review its tax position
We recommend reviewing it throughout the year, particularly before the financial year end, when there are profits, investments, corporate changes or significant transactions.
Do you work with businesses the self employed and individuals
Yes. We support businesses, professionals, self employed clients and individuals according to their tax needs and the complexity of each situation.
Is tax planning only about paying less tax
No. It also helps avoid risks, improve decisions, organise your tax affairs and correctly apply the options available under the legislation.
Can you help with a tax information request or inspection
Yes. We review the documentation, analyse the reasons for the request and support the client in responding and dealing with the tax authorities.
What taxes must I pay or report on cryptocurrencies
If you are tax resident in Spain, you must report your cryptocurrency holdings for Wealth Tax purposes if you exceed the relevant legal threshold. You must state the value of the cryptocurrencies you hold at that time.
Transfers must also be reported for Personal Income Tax purposes and, where applicable, Inheritance and Gift Tax purposes.
Where cryptocurrencies are held abroad and their value exceeds €50,000, reporting is required; once reported, a further report is required in a subsequent year when the change in value exceeds €20,000. This obligation applies from the 2022 tax year.
For Personal Income Tax, the income and gains arising from cryptocurrency returns, transfers or sales must be reported. These amounts must be included in the savings tax base. This includes interest from bank deposits and accounts, as well as the net capital gains arising from disposals of assets. In 2021, the Spanish Tax Agency introduced a box labelled “virtual currency” in the section for capital gains and losses from the disposal of other assets.
As a capital gain included in the savings tax base, the tax rate ranges from 19% to 26%, depending on the gain. A rate of 19% applies to the first €6,000; 21% to the portion between €6,000 and €50,000; 23% to the portion between €50,000 and €200,000; and 26% to the portion exceeding €200,000.
Returns received from staking are also taxable and must be reported in the Personal Income Tax return. Staking involves acquiring cryptocurrencies and locking them in a virtual wallet to receive income or rewards. As a form of dividend, the income falls within the savings tax base and is taxed progressively according to the amount received at 19%, 21%, 23% or 26%.