Spain 2014 Budget Now in Effect: Update from Nair & Co. Tax Team
(Bristol, UK) - The 2014 Budget published by the Spanish government is now applicable as of 1 January
2014. The budget includes a long-term strategy targeting employee training, advance payments
regulation and much more under corporate income tax, reports Nair & Co.’s International Tax Team.
Significant highlights of the changes included in the regulatory framework of corporate and individual
taxation are as follows:
Extended tax measures to 2014:
Small entities that maintain or create new jobs will be eligible for a reduced tax rate.
In order to benefit employee training in new information technologies, tax incentives
will continue to be granted on expenses and investments made by such companies.
New rules have been introduced for advance payments.
New coefficient applicable to the acquisition cost while transferring immovable assets.
Individual income taxes
Tax credits are extended for expenses and investments related to in information technology job
An extension is provided to supplementary surcharges which were introduced for the year 2012
Income tax rates set for 2012 and 2013 are now extended to 2014.
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Service team please contact us.
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Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax
and compliance services for the set up and management of your international operations. Our model of
a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand
business and manage risk so they can focus on their core business and sustain growth with minimal risk,
stress and cost. We support nearly 250 clients in over 70 countries. Nair & Co. is headquartered in
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