July 27th, 2026
Newsletter 215 BNFIX PICH
July 2026
Dear all,
As we approach the usual summer break, we open our July newsletter with a video interview featuring Ciriaco Hidalgo, President of the Economic and Social Labour Council of Catalonia (CTESC), who speaks with Valentí Pich about the role of these councils as consultative bodies promoting economic and social consensus.
We are also delighted to share that BNFIX PICH has been named “Firm of the Year” by the Col·legi d’Economistes de Catalunya, an award we recently received at CaixaForum. In our corporate section, we highlight the appointment of María José Moragas as President of the BNFIX network and provide a preview of the upcoming BNFIX professionals’ meeting.
This edition also covers a range of topics of interest, including the extension of labour measures adopted in response to the Middle East crisis, the growing importance of sustainability in corporate reporting, the effective management of unpaid invoices, and our featured article, “Spain Remains an Attractive Destination for International Professionals, Executives and Investors”, which examines the tax, wealth and succession planning aspects that should be considered before relocating to Spain.
As always, we hope you find this edition useful and informative, and we wish you a well-deserved summer break. We would also like to remind you that during August our offices will be open from 9:00 a.m. to 3:00 p.m. Please note that our newsletter will take a short pause during August and will return to your inbox in September.
Joan Claret · joan.claret@pich.bnfix.com
Partner BNFIX PICH AUDITORES
Tax, Labour and Legal Insights
▶️ Video
Productivity, Competitiveness and the Future of SMEs
Video Interview with the President of the Economic and Social Labour Council of Catalonia (CTESC)
Ciriaco Hidalgo, President of the Economic and Social Labour Council of Catalonia (CTESC), speaks in this brief interview with our partner Valentí Pich about the role of the economic and social labour councils that operate both at national level and across many of Spain’s autonomous regions. As he explains, these bodies bring together trade unions, employers’ organisations, third-sector representatives and academic experts with the aim of advising governments and parliaments on legislative matters, as well as preparing strategic economic reports and opinions, always with rigour and “through participation, dialogue and consensus in the resolutions they issue”.
The conversation also addresses some of the key challenges affecting the competitiveness of SMEs, including productivity, infrastructure, human capital, housing and knowledge transfer, highlighting the importance of promoting public policies based on consensus and sound technical analysis.
As Mr Hidalgo notes, the combination of professional expertise and the ability of economic and social stakeholders to contribute to public policymaking for governments at different levels “is a function worth preserving”.
/ Spain remains an attractive destination for international professionals, executives and investors
Spain remains an attractive destination for international professionals, executives, investors and entrepreneurial families. However, relocating to Spain involves much more than immigration and employment considerations. Tax, wealth and succession planning can have a significant impact on the success of the move. In this circular, we outline the key issues to consider before becoming tax resident in Spain and explain why early planning is essential to protect family wealth, optimise taxation and ensure a smooth transition to a new personal and professional stage.
/ Reminder: Extension of Employment Measures in Response to the Middle East Crisis
We would like to remind you of the various measures approved by the Spanish Government on 29 June as part of the Comprehensive Response Plan to the Middle East Crisis, including the extension until 30 September of several employment-related measures.
/ Temporary Reduction of Fuel Duty: Current Situation
At the end of June, the Government approved a temporary reduction in the price of unleaded petrol and diesel fuel in order to mitigate the impact of rising energy costs on consumers and businesses. This measure will remain in force until the end of September and is accompanied by an obligation for service stations to inform consumers accordingly.
We provide an update on the current status of this measure.
/ Sustainability Gains Ground in Corporate Reporting
Spanish companies are making significant progress in incorporating sustainability criteria into their corporate reporting, according to a recent study by the Spanish Accounting and Auditing Institute (ICAC) and the Spanish Association of University Professors of Accounting (ASEPUC).
/ New Criteria in Catalonia Regarding the Tax Treatment of ‘Mortis Causa’ Gifts with Immediate Transfer
The Directorate General for Taxes and Gaming of the Government of Catalonia has issued an important ruling for estate and succession planning in Catalonia, as it changes the administrative criteria that had been applied for more than fifteen years regarding mortis causa gifts with immediate transfer of ownership.
/ Managing Unpaid Invoices: A Key Factor in Business Financial Health
Unpaid invoices affect cash flow and generate financial, administrative and operational costs that can have a significant impact on business activity. Effective debt management should form part of a company’s good governance practices, and businesses have several legal avenues available to recover outstanding debts.
ℹ️ Supporting Internationalisation and Competitiveness
As a member of the ACCIÓ network, we provide access to its resources and advisory services.
BNFIX PICH Tax Legal joined the ACCIÓ Partners Network (Catalonia Trade & Investment, Government of Catalonia) last year. ACCIÓ is the public agency specialised in attracting foreign investment and supporting the competitiveness and growth of Catalan businesses.
Through this partnership, we facilitate:
- Direct access to ACCIÓ’s resources and support programmes.
- Advisory services to help Catalan companies expand internationally.
- Connections with experts and public institutions that support business growth, innovation and transformation.
By working closely with ACCIÓ, we help companies identify opportunities, strengthen their competitiveness and accelerate their international development strategies.
BNFIX PICH News
/ BNFIX PICH Named “Firm of the Year” at the 2026 Nit dels Economistes
BNFIX PICH has been recognised as “Professional Firm of the Year” by the College of Economists of Catalonia, an award received by the firm’s founding partner, Valentí Pich, at the traditional Nit dels Economistes gala organised annually by the institution and held this year on 6 July at CaixaForum.
With this award, the Governing Board recognises the firm “for its track record, its contribution to the training and professional development of economists through its ongoing collaboration with the College in educational and institutional initiatives, and for the significance of its founder and Managing Partner, Valentí Pich Rosell, former Dean of the institution. The award also acknowledges the firm’s strength in the tax, legal and labour advisory sector, as well as its integration within a leading international network.”
A delegation from BNFIX PICH accompanied Valentí Pich at the Nit dels Economistes ceremony.
From left to right: Joan Claret, Mireia Guarro, Alba Pich, Andrea Cabrera, Mercè Sabado, Valentí Pich, María José Moragas and Josep Maria Bastons.
BNFIX Global News
/ María José Moragas, First Female President of BNFIX
BNFIX has appointed María José Moragas as its President, making her the first woman to lead the organisation, succeeding Ramón Madrid in the role.
A lawyer and insolvency practitioner, Moragas knows the firm inside out. She joined the Barcelona office in 1990 and has developed her entire professional career within the organisation, ultimately leading the Legal and Advisory divisions, responsibilities she will continue to hold alongside the presidency.
At 55, she specialises in corporate law and has advised companies and family business groups on succession planning, mergers and acquisitions (M&A), insolvency proceedings and restructuring processes. She also serves on the boards of various companies and organisations.
“BNFIX has been built on close client relationships and teamwork. From that foundation, and much like a relay race in which every professional in our organisation contributes and improves each day, I approach this new stage with enthusiasm and commitment,” says Moragas.
During the last financial year, special emphasis was placed on strengthening the legal-tax advisory and audit areas, while the organisation surpassed 3,000 clients.
/ 22-23 October: XXIII BNFIX Conference 2026 in Sitges
The XXIII BNFIX Conference, organised this year by the Barcelona office, will take place on 22 and 23 October in Sitges under the theme “Committed to the Future, Dedicated to Service.”
In addition to the technical sessions designed for professionals within the network, the programme will feature presentations open to clients, collaborators and friends, with the participation of leading speakers from the institutional, business and communications sectors. Topics will include personal leadership and its application within organisations, the outlook and key challenges facing the public sector, the impact of legislative changes on business activity, the role of business organisations in representing the interests of the productive economy, and the importance of building a strong and visible professional brand on LinkedIn. Attendees will also receive an institutional message from Santiago Durán, President of the ICAC.
All sessions will be streamed live through our YouTube channel.
Should you require any additional information or have any questions regarding remote attendance, please do not hesitate to contact us.
Agenda and Collaborations
/ Economic Analysis of Housing Taxation in Spain and Catalonia
The Urban Property Chamber (Cambra de la Propietat Urbana), its President Joan Ràfols, FEDEA and its Director Ángel de la Fuente presented, at FEDEA’s headquarters in Madrid, a study entitled “Economic Analysis of Housing Taxation in Spain and Catalonia”, prepared by economist Jaume Menéndez. The event also featured Julián Salcedo, an economist specialising in the real estate sector.
The study was also presented in Barcelona at the College of Economists of Catalonia.
Both sessions were coordinated and moderated by Valentí Pich.
The conferences addressed the challenges involved in expanding the housing stock and explored various tax policy proposals aimed at improving the efficiency, fairness and sustainability of the housing sector.
Press release, session recording and publication available HERE.
Publications & Articles
/ Economic Review of Catalonia. Special 40th Anniversary Edition
June 2026 · College of Economists of Catalonia
The College of Economists of Catalonia has marked the 40th anniversary of the Economic Review of Catalonia (Revista Econòmica de Catalunya) with a special edition of more than 250 pages, coordinated by Antoni Garrido and featuring contributions from around thirty authors, including our partner Valentí Pich. The publication examines, across several thematic sections, the main developments in the Catalan and Spanish economies in recent years, as well as the challenges that lie ahead.
At the launch event, held on 25 June at the Parliament of Catalonia, the Dean of the College of Economists, Carlos Puig de Travy, described the journal as “one of the homes of economic thought in Catalonia” and a “privileged observer of the changes” experienced by the country over the years. He also stated that “continuity” is the term that best defines the publication, given its consistent monitoring of the Catalan economy, and highlighted the need for spaces for reflection such as the Economic Review of Catalonia in what he described as a “paradoxical era”: “it has never been more necessary to interpret data rigorously,” he noted.
The publication HERE
/ Demographic Growth as a Key Driver of the Current Economic Cycle
June 2026 · Institute of Economic Studies (IEE)
This study confirms that, although Spain continues to outperform the euro area in terms of economic growth (with forecasts of 2.1% in 2026 and 1.8% in 2027), growth is gradually moderating and significant structural challenges remain.
One particularly noteworthy finding is that population growth accounted for 43% of GDP growth between 2018 and 2025, while the foreign population contributed nearly 74% of cumulative economic growth during the same period.
The study HERE
