The 2014 Budget published by the Spanish government is now in effect as of 1 January 2014. The budget includes a long-term strategy targeting employee training, advance payments regulation and changes to corporate income tax.
The main tax changes are as follows:
Corporate taxes:
The corporate tax changes include 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. Changes have also been made to the computation of acquisition cost on immovable assets.
Individual income taxes:
An extension is provided to supplementary surcharges which were introduced for the year 2012 and 2013. Tax credits are extended for expenses and investments in relation to information technology job training.
Non-residents’ taxation:
Income tax rates set for 2012 and 2013 are now extended to 2014.
