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Wednesday, 02 December 2015 13:11

Entrepreneur Act through Congress of Deputies

Congress has passed the bill with 28 new amendments entrepreneurs, 18 of them agreed between the parliamentary groups.

These amendments include the expansion entrepreneurs of all ages flat rate on the price of 50 euros to Social Security during the first 6 months.The text, which now goes to the Senate, it aims to promote entrepreneurial culture through a support entrepreneurs from the beginning of its activity until further development and internationalization.

Another amendment agreed between groups imply that the Government provided four months to examine the legal nature and the special social security scheme for those working in sports clubs and non-profit entities.

The main measures of the Act, highlights some as the introduction of the entrepreneur limited liability for debts arising from the realization of their economic activities, emphasizing that you can not foreclose on your residence.

Also the limited partnership successive formation to cheapen and facilitate the establishment of a company and its activity; measures to speed up the start of entrepreneurial activity or extrajudicial negotiation mechanisms for that failure does not prevent entrepreneurs start a new project.

Between fiscal and social security measures, the law includes VAT cash, by which SMEs will not enter the VAT before payment of the invoice until the end of the year and investment incentives for corporate profits.

Also, incentives for research and development, incentives for "angel investors" to provide new sources of financing business, reductions in contributions entrepreneurs listed on more than one company, or reducing administrative burdens included SMEs and freelancers, removing obstacles in the development of their activity.

Another amendment expands transacted reductions and quota bonuses to Social Security for people with disabilities to be established as self-employed.

Regional extended from 3000 to 9000 euros the tax credit for job creation for disabled workers. a new deduction of 12,000 euros is also created for each person average increase workforce with disabilities an equal or greater than 65% grade.

On the other hand, companies can benefit from tax incentives for reinvestment of profits expand. The first text of the law limited the deduction of 10% for companies with a turnover of less than 10 million. With this amendment, companies that exceed this volume of business may apply the deduction in the immediately higher than the year exceeded.

Our view: We will follow very closely any changes made by the Senate in the current wording of the Law on Entrepreneurs.

David Figueras Batet
Partner Director SF Lawyers S.L.