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A limited liability company owes certain amounts to its partners, individuals who, in the face of the continuing losses of the entity, decide to forgive it, as a contribution to the company's equity.
We are going to review how to tax share issue premiums and contributions from partners’ returns after the tax reform of the IRPF Law 26/2014.
Popularly called “Beckham Law” was approved to allow non-residents who acquired tax residence in Spain to continue paying taxes under the non-resident income tax (IRNR) system, that is, by applying a lower fixed general rate at the marginal rate provided for in the regulations on Personal Income Tax (IRPF), in the tax period in which the change of residence takes place and the following five tax years. Thus, this tax incentive mainly benefits those taxpayers with high labour incomes.
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Coming into force for general purposes on 01/07/2017 except as provided in paragraph 11 of this novelty, the new system “Immediate Information Supply” (hereinafter SII) based on tax records’ bookkeeping through the electronic office of the AEAT (State Tax Administration Agency) which is a substantial improvement in the communications between the administration and the taxpayer, allowing a bidirectional, automated and instantaneous relationship.
RDL 3/2016 article 3.1.1,3 BOE 12.03