Newsletter 199 BNFIX PICH
People, principles, services
February 2025
Dear all,
As we enter one of the coldest months of the year, but with the day gradually getting longer, we are faithful to our monthly appointment with the newsletter. February’s 199th newsletter reminds you of the obligations of the informative declaration of assets and rights abroad (form 720), covers the new minimum wage and the implications of the recently approved, and controversial, regulation on reduction of working hours and time registration, and echoes some informative sessions in which we have participated, as well as a couple of studies related to the company that we believe may be of interest to you.
In the meantime, we are preparing the March newsletter, which will be very special because it will be number 200.
María José Moragas – mj.moragas@pich.bnfix.com
Partner BNFIX PICH Tax Legal
Highlights
/ The filing of form 720, until March 31
Once again, the first quarter of the year is marked, in the tax sphere, by the informative declaration on assets and rights abroad (form 720). The one relating to the 2024 financial year must be submitted before 31 March. We remind you, below, who is obliged to submit it, what elements must be declared, their limits and the importance of preparing in time the entire volume of information that financial institutions must submit.
/ Pension plans of more than 10 years, redeemable without justification
Since 1 January, pension plans that are more than 10 years old, i.e. prior to 2015, can be redeemed without the need to justify any situation. The amounts redeemed are considered, in general terms, income from work. However, a 40% reduction may be applied in certain cases.
/ Approved the SMI for 2025
Royal Decree 87/2025, published on 12 February, sets the new amounts of the minimum wage (SMI) for 2025, which has retroactive effect to 1 January 2025 and represents an increase of 4.41% compared to 2024.
Thus, the SMI reaches 16,576 euros per year, while the monthly salary will be 1,184 euros in 14 payments, or 39.47 euros per day worked, and will be adjusted proportionally in the case of part-time work.
BNFIX PICH International news
/ CILEA Professional Meetings
Our partner Valentín Pich will participate, today Monday at 6 p.m., as president of the Latin Europe-America Integration Committee (CILEA) in the CILEA Meeting in which the CILEA model of Sustainability Report for small and medium-sized companies will be discussed. The rest of the speakers will be Claudio Siciliotti, Laura Accifonte and Loreto Alonso Berrio.
Register, HERE
Agenda and collaborations
/ Estefanía Sánchez, at the Foment session on the CSRD Directive
On 29 January, Estefanía Sánchex, a lawyer who is an expert in corporate sustainability issues, participated in the Foment del Treball session on the CSRD Directive and its impact on business management.
At the conference, which he shared with leading experts in the field, he addressed the keys to adapting sustainability reports to the CSRD from practical experience. In addition, he delved into the challenges and solutions that this directive poses to companies.
/ Webinar on tax and labour developments in the Construction Guild
Andrea Oró, from the Tax Area, and Jordi Carbonell, from the Labour Area, gave a webinar on 13 February, at the Gremi de la Construcció de Barcelona, on labour and tax developments for companies and the self-employed, including the increase in contribution bases, the solidarity surcharge for high salaries and the application of VAT to short–term rentals.
Press & Publications
/ SME Report 2024. Talent Management
General Council of Economists
The lack of qualified talent affects more than 60% of Spanish SMEs. This is according to the SME Report 2024, prepared by the General Council of Economists and the Foundation for the Strategic Analysis and Development of Small and Medium-sized Enterprises (Feadpyme). This year, the report focuses on the key challenge of attracting and retaining talent in an increasingly complex and competitive environment. The study is based on information from a survey of executives from more than 630 Spanish SMEs.
The article, HERE
/ ‘The organisational and productive needs of companies and the responses of the legal system’
Institute of Economic Studies
‘The organisational and productive needs of companies and the responses of the legal system. Reflection on the future and proposal of lines of change’.
This publication by the Institute of Economic Studies (IEE) is the work of six labor experts from our country and was presented in mid-January; It analyses the evolution of Spanish labour regulations and the influence of European legislation and makes a series of proposals for improvement. Experts advocate designing a more modern labour regulatory framework, adapted to the current global context and the needs of companies, which promotes competitiveness, job creation and legal certainty.
The study, 176 pages long, HERE
