Among other measures, this law includes the creation of a special regime cash basis VAT for freelancers and SMEs that will allow them to avoid having to enter this tax until they have collected the invoices, with the top 31 Dec. subsequent year in which the transaction occurred.
Excluded from this mode qualifying under the simplified special arrangements for agriculture, livestock and fishing operations and gold transactions and electronic character.
Also extends the flat rate of 50 euros for six months for all new autonomous, regardless of age, with progressive reduction until the next twelve months.
Another initiative is the 20% decrease in net income from the personal income tax return and a full exemption from this tax when unemployment benefit is capitalized.
The new rule provides the entrepreneur limited liability (ERL), which will lead to liability for business debts affect your residence if the outstanding principal does not exceed 300,000 euros.
Among the measures that delay its entry into force is for example the obligation of entrepreneurs to score in electronic form in the Registries of Property and Mercantile and Chattel and regulations of extrajudicial debt agreements.
Also, the competitions declared before the date of entry into force of this standard remain subject to completion by the previous bankruptcy regulations to this Law.
Moreover, with this law the government facilitate and expedite the granting of residence permits to foreigners who are engaged in property acquisitions in Spain over half a million euros, as well as, among others, the purchase of public debt exceeding two million euros.
The Government will also facilitate, residence permits to foreigners who come to Spain in the context of an employment relationship and highly skilled professionals and entrepreneurs who invertan in projects that create jobs or conduct scientific innovation or technology.
David Figueras Batet
Partner Director SF Lawyers S.L.