March 2024
Dear all,
Before slowing down a little for Easter, we are pleased to send you the March newsletter, which we begin by reminding you of some dates in the tax calendar for March, such as the deadlines for filing Form 720, on assets and rights abroad, and Form 721 relating to transactions with cryptocurrencies. We also propose another circular that reminds companies of various laws that must be complied with beyond the usual labour, commercial and tax obligations, which is complemented with a short video.
We also include a video interview with David Gassó, expert in financial markets and founder of Anchor Capital Advisors EAF, and another video in English on what foreign entrepreneurs and companies who want to set up in Spain have to do, as well as several publications and agenda proceedings in which our people have participated.
María José Moragas – mj.moragas@pich.bnfix.com
Partner in charge of legal area BNFIX PICH TAX LEGAL
Highlights
/ 1st April, last day to file the model 720.
As every month of March, we remind you of the deadline for filing the information return on assets and rights located abroad (form 720) for 2023, which ends on 1 April. In this regard, we would like to remind you that next week is Easter Week and 1 April is Easter (a public holiday in Catalonia).
/ Tax and reporting obligations for transactions with cryptocurrencies: in March, form 721
If you make transactions with bitcoins or other cryptocurrencies, you are obliged to report them to the Treasury using form 721, a tax return whose deadline for filing is 1 April. We explain all the details of taxation in a complete circular on our website.
/ Remuneration register, working time register, equality plan, complaints channel… and other company obligations to be met
The professionals at BNFIX PICH regularly remind you of new legal developments which, little by little, are added to the usual obligations of all kinds that companies must comply with.
Thus, together with the “classic” obligations and formalities of a fiscal, commercial, accounting or labour nature, companies or entities must take into account and comply with a series of regulations, some of which are compulsory for all, others depending on the number of employees, and others which, although voluntary, are increasingly valued by stakeholders. In the following circular, we review the most significant ones
/ VIDEO-INTERVIEW
/ Stock exchange and financial markets: between prudence and ambition
David Gassó, financial markets expert and founder of Anchor Capital Advisors, talks to Sara Bueno, in this brief interview, about the different investment alternatives, such as banking products and the stock market, and explains their evolution in recent years, current situation and prospects for the coming months, taking into account the influence of factors such as inflation, interest rates and military conflicts, to which we must be very attentive. He analyses above all the evolution of short-term investments and, in any case, suggests “maintaining prudence but with a little bit of ambition”.
International
/ What foreign entrepreneurs and companies wishing to set up in Spain need to do?
Alba Pich, from the Tax Department, explains in this video what steps and legal and formal requirements must be met by professionals, digital nomads, entrepreneurs and foreign investors who want to start a business in our country or expand one they already have in their place of residence, the most appropriate legal forms for each type of business, and so on.
Agenda
/ Sessions on pension plans in the construction sector
The new pension plan in the construction sector and the technical aspects related to the implementation of this plan in payrolls have been the focus of several informative sessions given by our professionals.
After a first session on 12 December for the Gremi de Constructors and the Cambra de Contractistes, in February we took part in the sessions organised by the Gremi de Constructors del Vallès (20 February) and by the Associació de Promotors Constructors d’Edificis (23 February).
More information and registration HERE
/ Training on the liability of the administrators of foundations and other non-profit entities
The head of the Legal Department of BNFIX PICH, María José Moragas, gave an online training course on 7 March at the Association of Economists of Catalonia on ‘The liability of the administrators of foundations and other non-profit entities’, whether criminal, civil or bankruptcy liability or in relation to public credits.
The training was part of the programme of direction and management of foundations and other non-profit entities.
Press
/ Foment economic situation report. A mild winter in the face of a weakened EU
Foment del Treball’s latest economic report, published on 11 March, points out that the Spanish and Catalan economies are growing faster than expected and slightly faster than in Europe.
It also urges a reduction in the public deficit in order to tackle the country’s high level of indebtedness and predicts that interest rates will not fall quickly or sharply this year. On the other hand, the strong pace of job creation and the rise in private consumption are surprising, while export growth remains low.
The complete report HERE
/ Public policies and their evaluation
Opinion article by our partner Valentín Pich, in his capacity as president of the General Council of Economists, in the newspaper ‘El Economista’ on 22 February. In it, he states, among other things, that, given the complexity of the current political and economic framework, evaluating public policies is a crucial task to achieve the objective of reducing the deficit in our public accounts.
The article HERE
/ Judges and the interpretation of the second article of the Insolvency Act.
Xavier Domènech, partner in the restructuring and insolvency area of BNFIX PICH, has just published a comprehensive analysis article entitled “Judges and the interpretation of the second book of the concursa law”. Key factor for the success of restructuring plans in the magazine number 67 of March 2024 of the REFOR (Registry of Forensic Economists) of the General Council of Economists, which we invite you to read.
The article HERE
