The new Directive has been created to guarantee the rights for short-term displaced workers and It has been established the obligation of having sanctioning committees.
According to the Spanish Tax Office, more than 1,5 million accounts with balances exceeding 457 million euros have been detected.
Spain is the second country with more SOCIMIs in the world
The tax reduction has become effective by means of Decree-Law and It is estimated that it will affect nearly 10.000 taxpayers in this Autonomous Community.
Commonly known as the "Beckham law", the Spanish Special Expat Regime is regulated in the Spanish Personal Income Tax Law (hereinafter, SPITL). According to its article 93, natural people who acquire their tax residence in Spain as a result of being posted to Spanish territory may opt for assessment under Spanish Non-Residents Income Tax rules instead of under the PIT rules for resident individuals provided that certain conditions are met. One if its advantages is the application of a flat tax rate of 24% on employment income along with the benefit of being taxed only on Spanish sourced income.