China’s New Thin Capitalization Rules

Excerpt from Practical China Tax and Finance Strategies by Peter Guang Chen (Deloitte Tax LLP, New York City). From http://www.wtexecutive.com/

Article 46 of China’s new Enterprise Income Tax Law (EITL) provides that a Chinese enterprise’s ability to deduct interest payments on borrowings from related parties is subject to a “prescribed standard.” However, the EITL, which became effective January 1, 2008, did not address what this “prescribed standard” would be. Without a clear answer on an acceptable debt-to-equity ratio in China, many financing and tax planning plans had to be put on hold, particularly for those multinational corporate groups doing cross-border intercompany financing of their subsidiary operations in China.
This important issue was addressed September 19, 2008 in a circular issued jointly by the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) (Caishui [2008] 121). Entitled “Notice on the Tax Deductibility of Related Party Interest Payments,” the circular defines the “prescribed standard,” by setting out the debt-to-equity ratio for related party borrowings.
Circular 121 affects all companies in China that borrow from affiliated parties (such as a parent company or a brother-sister company).
Circular 121 provides two sets of debt-to-equity ratios for related party borrowings: one for financial institutions, another for all other
enterprises:
• For financial institutions, the debt-to-equity ratio cannot exceed 5:1; and
• For all other enterprises, the debt-to-equity ratio cannot exceed 2:1.
Any related party interest payment exceeding the specified ratios is not allowed as a deduction in the current or subsequent years on the borrower’s Enterprise Income Tax (EIT) return, unless an exception applies. Under the exception, interest expense may be deducted if the enterprise can produce supporting documentation demonstrating that the financing was at arm's length or that the effective tax rate of the borrowing entity is not higher than the tax rate of the domestic related party that receives the interest.

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Spanish Holding Company for Latin American Investments

Excerpt from Practical Latin American Tax Strategies by Victor Cabrera, Antonio Lobon and Marc Skaletsky (KPMG LLP) . From http://www.wtexecutive.com/

Spain has emerged as one of the most attractive jurisdictions for multinational corporations (MNCs), including U.S. MNCs, to establish a holding company for Latin American operations. In 1996, Spain enacted into law its holding company regime (Entidad de Tenencia de Valores Extranjero, or "ETVE").
Key factors in the attractiveness of an ETVE having business substance include (i) Spain's extensive tax and investment treaty network with various Latin American countries, and (ii) Spain’s European Union (EU) membership and the resulting coverage by the EU Parent-Subsidiary and Merger Directives.

Because of Spain’s treaty network and the European character of the ETVE, it has become an interesting vehicle for channeling capital investments into Latin America as well as a tax efficient repatriation route for EU capital investments by non-EU companies. Additional benefits include Spain’s cultural, linguistic, and historical business ties with the region.

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España: tributacion del holding familiar

"La creación del hólding familiar para organizar mejor la empresa no tributa", articulo publicado el 24-11-2008 , por Diego Torres en Expansion (www.expansion.com):

La Administración reconoce expresamente que los procesos de organización familiar alrededor de la empresa (como la creación de protocolos familiares) son un motivo económico que afecta al negocio y no sólo a la familia, por lo que ampara la aplicación del régimen de neutralidad fiscal.

Los propietarios de una empresa familiar en plena reorganización podrán dormir más tranquilos a partir de ahora. La Inspección Fiscal lo va a tener más difícil para gravar operaciones como fusiones o canje de activos en este tipo de firmas después de dos consultas vinculantes emitidas por la Subdirección General de Impuestos sobre las Personas Jurídicas que abordan el concepto de neutralidad fiscal.

Este principio, recogido, entre otras normas, en el texto refundido de la Ley del Impuesto sobre Sociedades (TRLIS), implica que las fusiones, escisiones, aportación de activos, canje de valores y cambio de domicilio social no están gravadas si cumplen una serie de requisitos, fundamentalmente que la operación tenga un sustrato económico, es decir, que se haga básicamente para que la empresa funcione mejor.

El problema es que la Inspección fiscal estaba interpretando de una forma muy restrictiva estos condicionantes y giraba liquidaciones sustanciales –se grava la diferencia entre el valor de mercado en el momento de la operación y el valor a que se compraron los títulos– después de que los propietarios hubieran efectuado la reorganización.

Concretamente, la Inspección no aplicaba el principio de neutralidad fiscal cuando se quería organizar mejor la toma de decisiones a través de un holding, puesto que interpretaba que esto era un beneficio para los socios, no para la empresa. La Audiencia Nacional ya tuvo que frenar en su momento este tipo de actuaciones por parte de la Administración, como adelantó EXPANSIÓN el 7 de julio.

El criterio es el siguiente: “El fundamento del régimen especial [neutralidad fiscal] reside en que la fiscalidad no debe ser un freno ni un estímulo en las tomas de decisiones de las empresas sobre operaciones de reorganización cuando se sustenta en motivos económicos válidos, en cuyo caso la fiscalidad quiere tener un papel neutral”. Pero la aplicación deberá ser ahora más amplia, por cuanto la Administración reconoce que la mejor organización de la familia alrededor de la empresa es un “motivo económicamente válido”.

Por el contrario, afirma la Administración, “cuando la causa que motiva la realización de dichas operaciones es meramente fiscal, no se aplica el régimen especial”.

Las dos consultas vinculantes se refieren a supuestos típicos en compañías familiares: por un lado, la creación de un holding entre las diversas firmas, propiedad todas de la misma familia; por otro, una reestructuración.

VAT at UCONN

Posted by Ruth Mason on taxprof/typepad.com:

"Rita de la Feria (Centre for Business Taxation, Oxford) presented The Pitfalls of Accepted VAT Wisdom: Lessons from the EU Experience at Connecticut as part of its Tax Lecture Series. Rather than addressing whether the United States should adopt a value-added tax, de la Feria focused on what the United States could learn from the European experience.

VAT is the world’s fastest growing tax, with 130 countries applying it in some form. De la Feria noted the irony that although the United States is the only major industrialized country without a VAT, Michigan was the first jurisdiction to apply a VAT. While de la Feria noted that the allures of VAT include simplicity, ease of assessment and collection, and effectiveness in raising revenue, she cautioned that certain aspects of the European implementation of VAT have reduced these benefits. Among other recommendations, de la Feria warned that VAT exemptions and rate differentials designed to achieve progressivity or encourage consumption of merit goods have lead to extensive tax planning and difficult line-drawing problems in Europe.

Two cases decided in the British courts illustrate her point. In Jaffa Cakes, the court had to decide whether the popular British confection was a cookie or a cake. If a cake, it would fall under the VAT exemption for food, whereas cookies were subject to the standard rate of 17.5%. With a healthy dose of humor, de la Feria described the case as well as the court’s standard of review. The court declared that the distinction between cookies and cakes could be drawn by reference to what happens when they go stale: cakes go hard; cookies go soft. In another case, relying in part on the fact that Pringles only contain 40% potato, a court found that Pringles should not be subject to the higher rate of VAT applicable to (unhealthy) “potato crisps.” De la

Feria noted the perverse effect of the Pringles ruling: the more filler in the chip, the more likely the exemption!
This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

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El Reino Unido rebaja el IVA

La rebaja del IVA en el Reino Unido es cubierta por la Vanguardia (www.lavanguardia.es) en su articulo "El Reino Unido rebaja el IVA del 17,5 al 15% para estimular el consumo" de la siguiente forma:

La medida forma parte de un plan valorado en 23.500 millones de euros para reanimar la economía británica | Aumenta hasta el 45% del tope fiscal para quienes tengan ingresos anuales superiores a los 176.400 euros a partir de 2011 | Darling rebaja la previsión de crecimiento del PIB para 2009 que disminuirá entre el 0,75 y el 1,25 por ciento

Londres. (EFE).- El Gobierno británico anunció una rebaja inmediata del IVA dentro de un plan de estímulo fiscal de 20.000 millones de libras (23.500 millones de euros) para impulsar la economía nacional, que entrará en recesión a finales de este año.

El ministro de Economía, Alistair Darling, expuso la iniciativa ante el Parlamento durante la presentación de los presupuestos preliminares del Estado para el curso 2009-2010, muy esperados en esta ocasión debido al azote de la actual crisis económica.

El llamado "Chancellor of Exchequer" subrayó que se trata de un "exhaustivo plan" para responder a los efectos de "una crisis global sin precedentes". "Estos son tiempos extraordinariamente desafiantes para la economía internacional", subrayó Darling ante una abarrotada Cámara de los Comunes.

Flanqueado por el primer ministro, el laborista Gordon Brown, el titular de Economía precisó que los 20.000 millones de libras representan el 1 por ciento del Producto Interior Bruto (PIB).

Entre las medidas planteadas por Darling destaca una rebaja del IVA (impuesto sobre el valor añadido) de un 2,5 por ciento, hasta el 15 por ciento, a partir del próximo 1 de diciembre.

En la práctica, esa reducción impositiva, indicó el titular del ramo, generará 12.500 millones de libras (14.700 millones de euros) que engrosarán los bolsillos de los consumidores y que el Ejecutivo espera que sirvan para dinamizar la alicaída economía.

Ese "recorte temporal", como lo definió el ministro, se aplicará durante los próximos trece meses, toda vez que se espera retornar al nivel actual del 17,5 por ciento a principios de 2010, cuando el Gobierno laborista vaticina una recuperación económica.

A fin de compensar el coste de la rebaja del IVA, el Ejecutivo aplicará, entre otras medidas, el aumento, hasta el 45 por ciento a partir del 2011, del tope fiscal para quienes tengan ingresos anuales superiores a las 150.000 libras (176.400 euros).

Ese nuevo tope fiscal está condicionado a que el Partido Laborista gane las próximas elecciones generales, previstas para el 2010 como muy tarde.

Además, ese alza de la carga fiscal significa, según los observadores políticos, romper la promesa que hizo el Nuevo Laborismo del ex primer ministro Tony Blair al llegar al poder en 1997 de que no castigaría con mayores impuestos a quienes más ganan.

Sin embargo, Gordon Brown resaltó hoy que "los momentos extraordinarios requieren medidas extraordinarias", en un discurso pronunciado ante el congreso anual de la patronal británica.

Darling también adelantó que la rebaja del IVA habrá que pagarla con futuros aumentos del gravamen de la gasolina, el alcohol y el tabaco (productos afectados por el impuesto sobre el valor añadido) y con el incremento del 0,5 a partir de abril de 2011 de la contribución de los empleadores y empleados a la seguridad social.

De manera inevitable, la menor recaudación contribuirá a elevar la deuda pública, que este año se doblará hasta 78.000 millones de libras (91.700 millones de euros), y en 2009 alcanzará la cifra récord de 118.000 millones de libras (207,6 millones de euros).

El plan incluye, asimismo, ayudas para las pequeñas empresas y los ciudadanos obligados a pagar una hipoteca, así como el adelanto del pago de pensiones y de subsidios a familias de bajos ingresos.

En cuanto a la evolución de la economía, el ministro rebajó la previsión de crecimiento para 2009 del PIB, que disminuirá entre el 0,75 y el 1,25 por ciento, frente al 2,75 por ciento estimado inicialmente.

Tras la declaración de Darling, el portavoz de Economía del Partido Conservador, George Osborne, advirtió de que el plan provocará un gran endeudamiento del Estado y creará una "enorme bomba fiscal" que podría estallar en la "próxima recuperación económica". "Ésa es la factura de una década de irresponsabilidad del Laborismo", espetó Osborne.

Desde el Partido Liberal Demócrata, su portavoz de Economía, Vince Cable, vio insuficiente el recorte del IVA para estimular el consumo y consideró "más sensato" ayudar a "trabajadores con sueldos bajos mediante la reducción del gravamen de sus ingresos".

El paquete gubernamental fue bien acogido por la Bolsa de Valores de Londres, que cerró con una subida de cerca del 10 por ciento.

REITS españoles

"Hacienda impulsa los Reits", articulo publicado el 23-11-2008 , por Expansión.com:

El nuevo borrador del anteproyecto de ley que regula las sociedades cotizadas de inversión inmobiliaria, conocidas como SOCIMI (REIT por sus siglas en inglés), introduce importantes cambios para estimular su constitución, como la posibilidad de poder alcanzar participaciones superiores al 5% y la exención de tributar por la obtención de dividendos.


Estas y otras modificaciones introducidas por el Ministerio de Economía y Hacienda en el borrador redactado en octubre, de acuerdo con las aportaciones del sector, tratan de asegurar un efectivo desarrollo de estas sociedades como instrumento de impulso del mercado de arrendamientos de inmuebles.

El borrador del anteproyecto de Ley establece que toda SOCIMI debe tener como objeto social invertir en bienes inmuebles urbanos para alquiler
Por lo pronto, el nuevo texto "abre la mano" a la participación eliminando el límite del 5% en las participaciones por socio, dando así entrada a socios mayoritarios, así como la obligación de tributar por los cobros de dividendos. Por el contrario, estas sociedades ya no podrán estar exentas de tributación, aunque lo harán al 18% por el Impuesto sobre Sociedades, por debajo del 30% del tipo general.

Así pues, la nueva configuración de las SOCIMI rompe algunas de las reglas que venían caracterizando a este tipo de sociedades en otros países donde ya están instaladas, ya que habitualmente cuentan con límites de participación y están exentas de tributación.

Requisitos

Por lo demás, el borrador del anteproyecto de Ley establece que toda SOCIMI debe tener como objeto social principal la inversión en bienes inmuebles de naturaleza urbana para su arrendamiento y debe cumplir una serie de requisitos.

Entre ellos incluye que el 85% de los ingresos, excluidos los derivados de la transmisión de las participaciones y de los bienes, deberán provenir del arrendamiento de viviendas y de dividendos. Asimismo, deberán distribuir al menos el 90% de los beneficios en forma de dividendos a sus accionistas y al menos un 50% de las plusvalías por la venta de inmuebles y participaciones.

Además, los bienes adquiridos por la sociedad deberán ser en propiedad. Concretamente, se establece que estas sociedades deberán tener invertido, al menos, el 85% del valor del activo en bienes inmuebles de naturaleza urbana en alquiler.

Por último, el texto indica que las SOCIMI deberán tener un capital social mínimo de 15 millones de euros, mientras que la deuda que podrán contraer no deberá ser superior al 60% del activo de la entidad.

Inspeccion fiscal latinoamericana sobre empresas españolas

"Latinoamérica estrecha el cerco de la inspección sobre las empresas españolas", interesante articulo publicado el 21-11-08 , por D. Gracia, en Expansion (www.expansion.com):

Los grandes destinos de la inversión española en América Latina han dado un giro de tuerca a la presión tributaria. "Las autoridades fiscales están tomando posiciones muy restrictivas frente a los contribuyentes y, en especial, los grandes grupos empresariales en Brasil, México, Argentina o Venezuela", asegura Carlos Gabarró, director de fiscalidad internacional de Ernst & Young abogados.


El refuerzo de los impuestos indirectos, la formalidad de los controles de Hacienda y la mayor presión fiscal sobre las operaciones financieras puede llegar a entorpecer el desembarco de grandes grupos en la región, según los más de 70 directores fiscales de grandes empresas y miembros de la Agencia Tributaria que acudieron al Primer Seminario para Responsables de Impuestos organizado por Ernst & Young Abogados en Valencia.

Brasil aplica unas reglas sobre precios de transferencias distintas a las de la OCDE
Santiago Chacón, senior manager del despacho para América Latina, matiza que el objetivo de muchos países ha sido "mejorar la seguridad jurídica y hacer un entorno fiscal más claro para el inversor". Sin embargo, "la frontera" entre una mejor regulación y las barreras de entrada no se han valorado siempre bien.

Es el caso, por ejemplo, de los impuestos sobre las transferencias bancarias en Argentina o Brasil. El Gobierno de Buenos Aires ha reforzado la inspección sobre las estructuras de financiación y los prestamos realizados por sociedades vinculadas desde el exterior.

El objetivo era evitar grandes operaciones especulativas, pero Chacón cree que se está llevando "al extremo". Por ejemplo, la ley obliga a las empresas que realicen préstamos a depositar una cantidad fija en el Banco Central de Argentina durante un año sin recibir a cambio intereses.

En el caso de Brasil, las autoridades han tenido que modificar el IOF "impuesto sobre las transacciones financieras" porque se ha convertido en una barrera para la inversión internacional en la situación de crisis actual.

La presión sobre las operaciones financieras ha crecido en los últimos años
Gabarró y Chacón constatan que el mayor problema de Brasil es su prolija tributación indirecta. El federalismo fiscal del país (formado por tres niveles de administración tributaria) ha dado lugar a una extensa gama de impuestos.

Además, las autoridades brasileñas han tomado una posición excesivamente formalista con la inspección de los precios de transferencias. Sus convenios de doble imposición con otros países incluyen cláusulas OCDE sobre precios de transferencia, sin embargo, Brasil aplica unas reglas propias.

Estructuras más complejas

"Los inversores deben muy bien su análisis antes de instalares en los países y establecer la forma en la que lo van a hacer", explica Gabarró. Grandes economías de la región como México lanzaban todos los años un paquete de modificaciones fiscales con clara incidencia en la estrategia empresarial.

En 2009, el Gobierno mexicano ha decidido dar un paréntesis a esta práctica habitual. No obstante, el Impuesto de Empresarial a Tasa Única (IETU) está generando problemas a las empresas un sólo año después de su entrada en vigor.

El Ejecutivo de Felipe Calderón creó el IETU para limitar las estructuras planificación fiscal agresivas que, en su opinión, cometían los grandes contribuyentes del Impuesto de Sociedades. De hecho, gracias a éste y a la acción más "agresiva de Hacienda" "la inspección busca arreglos rápidos, sin juicio, que incluyen amenazas penales" México ha conseguido mejorar la recaudación total.

En cambio, el IETU tiene muchas limitaciones a la hora de deducir pérdidas de ejercicios anteriores, gastos financieros, salarios, etc. El resultado es que, a pesar de tener un tipo impositivo más bajo, la base tributaria es más alta que en Sociedades "que sólo grava los beneficios". Una barrera importante para empresas, por ejemplo, de infraestructuras o constructoras, las cuales deben hacer frente a costes de financiación relevantes para instalarse, comenta Gabarró.

No obstante, este experto insiste en que, a pesar de todo, España ha conseguido situarse como uno de los países más atractivos para enfocar la inversión hacia Latinoamérica, gracias a su amplia red de convenios de doble imposición.

Escape to Latin America

There is a very interesting post from 19 November 2008, called "You Don’t Know Until You Go!", from www.QWealthReport.com:


"It’s a few weeks since my last blog entry, and the reason for this is that I have been travelling in Latin America with a small group of investors – concerned privacy-minded and freedom loving individuals who are concerned about how our financial and personal freedoms are being gradually eroded. We had an interesting ten day trip starting in Panama City then taking in Paraguay and Brazil.

When I talk about “concerned individuals” what I really mean is that if and when things get worse in the western world – in terms of financial and political restrictions - it’s important to be prepared. An established business or residence presence in one of the more remote corners of the world will be a great fallback or hedging position. Even a second passport or citizenship might be your ultimate goal.

You might be surprised to learn that Paraguay scores highly on all this – a free society, no personal income taxes and an economy that is completely self sufficient with plenty of fresh water and clean, green power. In fact Paraguay is the world’s largest exporter of hydro electricity, and one of the highlights of the trip was a visit to the Itaipu Binacional hydro-electric power plant – the largest in the world, and an incredible feat of engineering and international co-operation. We also visited the spectacular Iguassu Falls, one of the seven wonders of the natural world.

But the most important thing I think we all learned from this trip was the importance, even in this internet age, of actually getting on a plane and seeing things for yourself. We all know the comfort of familiar places and people, but that often also comes with a feeling of frustration, a feeling that we are not in full control of our lives as we should be. On the other side, we all have a natural fear of the unknown. This internal fear is perpetuated by the mainstream media. But by confronting and overcoming it we can open up a whole new world of opportunities.

For example, one of our delegates, a successful UK businessman, said TV and press coverage had led him to believe he would find machete-wielding individuals a mile or two from the financial district of Panama City. But by going there and getting a feel for the place by visiting local and expat-owned internet businesses, he found instead that it’s a great place to do business. Now he is making plans to move his operating base down there instead.

Here at The Q Wealth Report our business for over a decade has been writing about not just how to preserve your assets offshore, but how to create wealth and develop opportunity by actually living offshore. As a famous offshore author once said, “You don’t know until you go.” The instability in the world right now means that you truly need to know about safe places and new opportunities. Right now would be the time to start, and here on lowtax.net you will find a lot of information to begin your quest."

Peter Macfarlane is joint editor of The Q Wealth Report an established newsletter dedicated to informing readers about creating, protecting and growing wealth in a secure offshore environment. It also covers international living, banking, retiring and investing. Visit www.QWealthReport.com to see more.

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
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Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

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We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
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Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.

España: Hacienda solo cobra el 10%

"Los técnicos de Hacienda afirman que la Agencia tributaria sólo cobra uno de cada diez euros pendientes de cobro", articulo publicado el 19-11-2008 , por Expansión.com:

La Agencia Tributaria sólo consigue ingresar poco más de la décima parte de las deudas que gestiona anualmente, con lo que el importe de las deudas que no recupera es "muy superior" al de liquidaciones efectivamente ingresadas, hasta el punto de que por cada euro que ingresa la Hacienda Pública al año, viene a perder casi dos, según un informe elaborado por el Sindicato de Técnicos del Ministerio de Hacienda (Gestha).


El informe de Gestha, que se presenta en Valladolid durante su VIII Congreso Nacional, muestra que apenas un 13% de las deudas canceladas en los últimos dos años fueron por ingresos directos fruto de la lucha contra el fraude, mientras que el resto respondió a otras causas como insolvencia, prescripción y anulación por Tribunales Económico-Administrativos (TEA) y judiciales a favor del contribuyente que debía dinero al Fisco.

En este sentido, destaca que los TEA, que dependen de la propia Hacienda, discrepen en casi un 40% de los casos del criterio de los órganos de gestión de la Agencia Tributaria, lo que puede apuntar a la "deficiente calidad" de las liquidaciones reclamadas y que responden a la necesidad de "generar compulsivamente nuevas liquidaciones para cumplir los objetivos marcados, con menoscabo de su calidad, y no tanto a un objetivo real de ingreso y de eficacia".

Según Gestha, los ingresos directos percibidos por la Agencia Tributaria por actuaciones de control del fraude representan un porcentaje "residual" de la recaudación global de impuestos, ya que apenas alcanzaron en los últimos dos años un 1,8% de la recaudación global obtenida.

De acuerdo con el informe, el importe de las deudas pendientes de cobro de los últimos tres años supone casi dos tercios del total de las deudas gestionadas en cada uno de los últimos dos años que, de haberse hecho efectivas, la actual situación financiera de España sería "mucho más desahogada" ante la actual crisis económica.

Así, las deudas pendientes de cobro a finales de 2005 ascendían a 20.912 millones de euros, cifra que se incrementó en cerca de un 7,5%, hasta los 22.426 millones de euros en 2006, y en un 20%, hasta los 25.088 millones en 2007.

Bola de nieve

Gestha estima que este progresivo aumento de deudas pendientes deja traslucir un efecto de "bola de nieve", que viene creciendo de forma ininterrumpida en los tres últimos años y que pone en peligro la financiación de las distintas administraciones públicas, máxime en momentos de crisis como el actual.

Por todo ello, defiende una batería de propuestas técnicas, legislativas y de recursos humanos para actualizar el Plan de Prevención del Fraude, que presentará mañana el Gobierno. Entre ellas, propone un control "más cercano" de los contribuyentes, filtrando a aquellos que son "clave", así como el alargamiento de los procedimientos para reducir la litigiosidad en vía administrativa y judicial.

Deudores que no obtengan subvenciones

La exclusión para los deudores declarados insolventes del derecho a obtener subvenciones, crear empresas, formar parte de consejos de administración y ostentar cargos y empleos públicos, hasta que regularicen su situación tributaria y la necesidad de elaborar por expertos independientes un análisis y evaluación oficial de la economía sumergida en España y del fraude fiscal son otras de las propuestas de Gestha.

Igualmente, piden acordar un calendario con plazos anuales y plurianuales para la reducción del fraude fiscal y la economía sumergida, establecer fórmulas de coordinación y colaboración efectiva entre la Agencia Tributaria y las administraciones tributarias de las comunidades autónomas y la creación de una base de datos fiscales única compartida, alimentada con la información procedente de los ámbitos central y autonómico.

Plan de Prevención del Fraude Fiscal

Por último, los técnicos del Ministerio de Economía y Hacienda apuestan por establecer una fórmula de control por las Cortes de los resultados de las actuaciones de control del fraude realizadas por la Agencia Tributaria, así como homologar la Agencia Tributaria española a las administraciones europeas, de manera que existan sólo dos tipos de funcionarios: administradores y asistentes.

La última propuesta del decálogo presentado por Gestha es el desarrollo de la disposición adicional cuarta del Plan de Prevención del Fraude Fiscal, según la cual se deberían articular las medidas oportunas para asegurar que se autorice a los 8.000Técnicos del Ministerio de Hacienda a asumir las responsabilidades y competencias previstas para la prevención del fraude fiscal.

Brussels to close loopholes in tax evasion legislation

"Brussels to close loopholes in tax evasion legislation"
Article published by Vanessa Houlder in London and Nikki Tait in Brussels in Financial Times (www.ft.com) on November 13 2008

Brussels will today step up the pressure on international tax-dodgers when it unveils proposals for bolstering the European Union's savings tax system.

The European Commission is expected to close some of the loopholes in the savings tax directive, the EU's flagship initiative against tax evasion which came into force three years ago.

The directive originally aimed to flush out tax evaders by requiring exchange of information between countries, or withholding tax on payments in third countries, such as Switzerland, Liechtenstein and Andorra.

But critics say the omission of trusts, foundations and companies from the legislation allowed evaders to sidestep the directive's intended effect.

The Commission acknowledged coverage had been not as wide as originally anticipated after it reviewed the directive's implementation this autumn. Officials proposed technical amendments in four main areas.

They admitted that the directive had dealt only with interest payments made for the immediate profit of individuals resident in the EU - giving people an opportunity to circumvent the rules by interposing another legal person or arrangement situated in a non-EU country.

A possible solution would be to ask "paying agents" - such as banks - to use the information already available to them under anti-money-laundering rules about the ultimate beneficial owners of outgoing payments.

But the proposed changes could be controversial. The European Policy Forum, an independent think-tank, said last week that it believed extending the directive would risk an own goal because it would impose a heavy compliance burden on member states' financially vulnerable banking sectors.

A highly critical report by the EPF said the directive had not fulfilled its original goals: "Member state governments have found the exchange of information model difficult to apply with a number of countries reporting long delays, inaccurate data and a range of problems centring on pursuing reports of interest income received by taxpayers in other countries."

It warned there was "a real danger that an extended directive would simply add to banks' cost base for little net benefit". The 1,243 leading banks in the EU and Switzerland would face an additional bill of nearly €700m ($877m, £587m) from an extension of the directive, the EPF calculated. That compared with initial compliance costs of €753m, with annual compliance costs of a further €693m.

The EPF said extending the directive's scope would be time-consuming, and that it would be costly for banks to be certain whether income received from a particular financial product fell within the directive's catchment area or not.

The higher compliance costs might force banks to withdraw credit facilities to businesses and households. "Given the relatively modest amounts raised by the directive to date and the fragile status of many banks across the EU . . this would appear to be a misguided policy -initiative."

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
• For local directory and directory assistance purposes.

Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.

Simpler business tax systems worldwide

A new report, launched today by the World Bank, IFC and PricewaterhouseCoopers, shows that tax authorities worldwide are overhauling tax systems by reducing taxes, streamlining administrative processes and modernizing payment systems. Paying Taxes 2009, the third report in an annual series, is expected to prompt further dialogue between governments and businesses on improving tax systems.

With the current global economic turmoil, economies around the world will be finding that tax revenues are coming under pressure. This will cause them to examine the effectiveness of their tax systems – not just the rates that they charge but the way the systems work. The aim of the Doing Business project is to provide an objective basis for improving the regulatory environment for business, informing the analysis of regulatory burden and providing insight for reformers.

The report draws on the Doing Business 2009 report that measures the ease of paying taxes for mid-size domestic companies in 181 economies, analyses tax systems and tracks related reform efforts. It includes examples of how 18 economies have made use of data from the previous global Doing Business reports and provides insight into discussions with governments and other stakeholders generated by earlier Paying Taxes reports.

Paying Taxes 2009 finds that in 2007/08:

• Thirty-six economies made it easier to pay taxes. This year’s top reformer is the Dominican Republic. Malaysia is the runner-up.
• The most popular reforms were reducing corporate income tax rates (in 21 economies) and improving electronic filing and payments systems efficiency (in 12 economies).
• Eight economies reduced the number of taxes paid by business.
• On average, corporate income tax accounts for only 13 percent of tax payments, 26 percent of compliance time, and 37 percent of the total tax rate (tax cost to the case study company).
• Employment taxes account for 34 percent of the total tax rate, taking into account only amounts borne by the employer. Employment taxes are particularly prevalent in the European Union and account for 65 percent of the total tax rate for the case study company in the region.
• On average, 36 percent of the overall time to comply with tax systems and 48 percent of the number of tax payments are spent on consumption taxes.

Susan Symons, PricewaterhouseCoopers LLP partner, said, “Corporate income tax reform has had a positive impact for government and business in a number of economies, yet these benefits could be multiplied if tax reform is looked at in its entirety. Tax reform should include all business taxes - not just corporate income tax. It should include all administrative aspects and the relationships between government and business generally. These are all fundamental to effective tax systems.”

Rita Ramalho, World Bank-IFC economist, said, “Countries are easing the complexity of their tax system and reducing the cost burden for businesses. Since 2004, average total tax rates have been reduced by 3 percent and time to comply with taxes decreased by 5 percent. This reform effort can broaden the tax base and increase tax revenues.”

For more information about Paying Taxes, visit www.doingbusiness.org/taxes

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
• For local directory and directory assistance purposes.

Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.

España: precios de transferencia se endurecen

"Hacienda podrá fijar precios en las ventas intragrupo", articulo publicado el 07-11-08 , por C. Cuesta / E. S. Mazo en Expansion.com:

Hacienda pretende estrechar el control sobre este tipo de transacciones porque estima que se falsean los precios de estas ventas, eludiendo el valor real de mercado de los productos o servicios en cuestión, con el único objetivo de recortar a efectos fiscales el pago de los impuestos. Así, por ejemplo, se hace figurar un precio inferior al real al vender un producto a otra compañía, de manera que el ingreso declarado se reduce frente al real, originando un menor pago del Impuesto de Sociedades.


El organismo de lucha contra el fraude fiscal ha aprovechado el texto del nuevo reglamento, al que ha tenido acceso EXPANSIÓN, para arrogarse un poder hasta ahora reservado a organismos técnicos: La Agencia, es decir, un órgano de contenido y finalidad recaudatoria, será la responsable de controlar lo que se denominan acuerdos previos internacionales, es decir, los procedimientos por los cuales las compañías consultan previamente a las administraciones tributarias de los países de las distintas filiales implicadas el procedimiento a seguir para no tener problemas con el Fisco.

Hasta ahora era la Dirección General de Tributos, organismo técnico especializado en cuestiones normativas, y no recaudatorio, el encargado de esta delicada función, lo que puede despertar cierto escepticismo. Y es que los acuerdos previos internacionales son los pactos en los que ahora la Agencia Tributaria podrá directamente decir qué precio debe constar a efectos fiscales en las operaciones.

¿Cómo afecta?

Por poner un ejemplo: si una empresa española decide vender a otra compañía de su mismo grupo en Alemania una determinada mercancía, para no tener problemas posteriores con la Inspección, puede reclamar este tipo de acuerdos previos.

Allí, la Agencia le explicará cuál es el precio que aceptará como valor real de mercado, con lo que la empresa sabrá que si adopta otro valor puede encontrarse en el camino con la Agencia Tributaria. Hasta ahora, en esa función intervenía la Dirección de Tributos, sin ánimo recaudatorio, cuando implicaba a otros países al margen de España, que es precisamente el contexto en el que suceden las mayores operaciones.

El reglamento, por otra parte, supondrá un alivio de trámites empresariales en un punto concreto, en el de la documentación que tengan que preparar los grupos empresariales en caso de inspección fiscal.

Frente a la idea del primer borrador impulsado, Hacienda ha decidido ceder a una petición empresarial y permitir que buena parte de las obligaciones documentales sean comunes para el grupo, sin que se deban individualizar por cada filial. Además, el plazo inicial de preparación de esta documentación será el fin del periodo declarable, con lo que se gana en la práctica un año, puesto que los inspectores no podrán reclamarlos al inicio del ejercicio en cuestión, sino al término.

Por otro lado, la documentación podrá ser válida para más de un periodo, siempre que no haya cambios sustanciales de las circunstancias. Los expertos apuntan que, en la práctica, esto supondrá poder mantener la misma documentación aproximadamente durante dos años, evitando el coste extra de tener que renovarla cada ejercicio.

Las obligaciones de documentación

La documentación obligatoria más importante de operaciones entre personas o entidades vinculadas , según el texto del nuevo reglamento al que ha tenido acceso EXPANSIÓN, es la siguiente:

- Para la determinación del valor de mercado de las operaciones entre personas o entidades vinculadas, el obligado tributario deberá aportar, a requerimiento de la Administración tributaria, la documentación relativa al grupo al que pertenezca el obligado tributario. Se entiende por grupo, a estos efectos, el establecido en el apartado 3 del artículo 16 de la Ley del Impuesto, así como el constituido por una entidad residente o no residente y sus establecimientos permanentes en el extranjero o en territorio español.

Tratándose de un grupo en los términos previstos en el apartado 3 del articulo 16 de la Ley del Impuesto, la entidad dominante podrá optar por preparar y conservar la documentación relativa a todo el grupo. Cuando la entidad dominante no sea residente en territorio español, deberá designar a una entidad del grupo residente en territorio español para conservar la documentación.

- Deberá incluir el obligado tributario en las declaraciones que así se prevea, la información relativa a sus operaciones vinculadas en los términos que se establezca por Orden del Ministro de Economía y Hacienda.

En cuanto a la obligación de documentación del grupo al que pertenezca el obligado tributario, la documentación relativa al grupo es:

- Descripción general de la estructura organizativa, jurídica y operativa del grupo, así como cualquier cambio relevante.

- Identificación de las distintas entidades que, formando parte del grupo, realicen operaciones vinculadas en cuanto afecten, directa o indirectamente, a las operaciones realizadas por el obligado tributario.

- Descripción general de la naturaleza, importes y flujos de las operaciones vinculadas entre las entidades del grupo en cuanto afecten, directa o indirectamente, a las operaciones realizadas por el obligado tributario.

- Descripción de las funciones y de los riesgos asumidos por las entidades del grupo en cuanto afecten, directa o indirectamente, a las operaciones del obligado tributario, incluyendo los cambios del periodo impositivo o de liquidación anterior.

- Una relación de la titularidad de las patentes, marcas, nombres comerciales y demás activos intangibles en cuanto afecten, directa o indirectamente, a las operaciones realizadas por el obligado tributario, así como el importe de contraprestaciones derivadas de su utilización.

- Una descripción de la política del grupo en materia de precios de transferencia que incluya el método o métodos de fijación de los precios adoptado por el grupo, que justifique su adecuación al principio de libre competencia.

- Relación de los acuerdos de reparto de costes y contratos de prestación de servicios entre entidades del grupo, en cuanto afecten, directa o indirectamente, a las operaciones realizadas por el obligado tributario.

- La memoria del grupo o, en su defecto, informe anual equivalente.

Evasion fiscal en Alemania

La evasión fiscal del todopoderoso presidente del Deutsche Post ha sido cubierta por La Vanguardia (www.lavanguardia.es) de la siguiente forma en su articulo "El ex presidente de Deutsche Post será procesado por evasión fiscal":

Este delito en Alemania puede ser castigado con penas de cárcel de hasta 5 años o incluso de 10 años

Berlín. (EFE).- El ex presidente de la compañía de correos alemana Deutsche Post Klaus Zumwinkel será procesado por evasión fiscal en relación con el denominado caso Liechtenstein, informó hoy la fiscalía de Bochum (oeste de Alemania).

Zumwinkel es sospechoso de haber evadido al fisco un millón de euros que presuntamente depositó en diversas fundaciones en el paraíso fiscal de Liechtenstein en los últimos años.

El ex directivo, de 64 años, estuvo desde 1990 al frente de Deutsche Post y presidía asimismo el consejo de vigilancia de la compañía de telecomunicaciones Deutsche Telekom, cargos a los que tuvo que renunciar tras estallar el escándalo.

Zumwinkel es hasta ahora la persona de mayor relevancia de los detenidos en relación con la trama de Liechtenstein. El escándalo fiscal, considerado como el más grande de la historia de Alemania, se descubrió a partir de un DVD comprado por los servicios secretos alemanes a un informante con datos de clientes del banco LTG de Liechtenstein que habrían creado fundaciones en el Principado para evadir impuestos.

El capital de esas fundaciones, según informó en su momento la fiscalía, ronda los 200 millones de euros.

En Alemania, la evasión fiscal puede ser castigada con penas de cárcel de hasta 5 años o incluso de 10 años, en casos especialmente graves. Sin embargo, la mayoría de los casos suelen cerrarse con una multa.

Andorra open to foreign takeovers

Andorra open to foreign takeovers
Article published by Mark Mulligan in Financial Times (www.ft.com) on November 7 2008

Andorra, the tiny Pyrenees principality, will on Friday open its borders to foreign takeovers as part of efforts to modernise the economy and shake off its image as a shady financial centre.

Under legislation passed in April, foreign investors will be allowed to control 100 per cent of companies in 200 designated sectors, while controls will be eased in core activities such as construction, tourism and retailing. Foreigners will be allowed to own 49 per cent of the capital in companies in these sectors, compared with 33 per cent at the moment.

Friday’s reforms follow the creation this year of companies’ register, to which local businesses will have to file regular accounts using international standards. There are also plans to introduce corporate tax of between 5 and 10 per cent, and value-added tax of 4 per cent.

At present, there are no direct taxes on companies and individuals in Andorra, making it a popular base for the wealthy from countries such as Spain, Portugal, France and the UK.

The changes are part of an effort to restructure the tiny economy, which relies on tourists – mainly skiers – for about 60 per cent of its E2.5bn gross domestic product. Global turbulence is expected to hit tourism hard, and Andorra has also seen a sharp downturn in construction activity, which accounts for about 10 per cent of GDP.

Juli Minoves, economic development minister, on Thursday described them as “important reforms, introduced at moment when they are most needed”.

However, the changes are also aimed at improving relations with Spain – which slaps a punitive 25 per cent tax on services provided by Andorran companies – and with the Organisation for Economic Co-operation and Development, which has Andorra on its list of un-co-operative tax havens.

This classification has taken on sinister connotations since the 2001 terrorist attacks in the US, as the hunt for al-Qaeda put secretive tax havens under the spotlight as possible sanctuaries for financiers of terrorist groups.

This, added to a series of financial scandals, has increased the pressure from the US and European Union on micro-countries such as Andorra and Liechtenstein for more transparent banking and taxation.

Copyright The Financial Times Limited 2008

PD: in fact is 24% currently, not 25%

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España: Rendimientos capital mobiliario sin Convenio

Rendimientos capital mobiliario

La generalidad de los ordenamientos distinguen entre rendimientos de capital mobiliario obtenidos mediante E.P. o sin E.P.

No existiendo E.P., los dividendos y los intereses percibidos por no residentes tributan al tipo del 24%.

Cuando actuan en España a través de un E.P., pero no existiendo Convenio, los no residentes que obtengan intereses o dividendos en territorio español deberán tributar al tipo de gravamen del 18% (desde el 200), siendo la base imponible el importe íntegro percibido. No obstante, en ese ámbito existen bastantes exenciones, pudiéndose indicar, entre otras, las siguientes:

a) Intereses de la Deuda Pública.

b) Intereses percibidos por residentes en otros Estados de la Unión Europea.

c) Intereses de las cuentas de no residentes.

d) Dividendos repartidos por filiales españolas a favor de su matriz residente en otro Estado de la Unión Europea.

Petición de rebaja de la fiscalidad en las embarcaciones de ocio

"La patronal náutica pide rebajar la fiscalidad de las embarcaciones de ocio" es el titulo de un articulo de La Vanguardia (www.lavanguardia.es) sobre otro sector que pide una ayuda directa o indirecta para capear la crisis. En este caso, quizas con cierta razon.

He aqui el articulo:

Madrid. (EFECOM).- El director general de la Asociación de Empresas Náuticas (Anen), Alejandro Landaluce, solicitó la semana pasada la rebaja de la fiscalidad que se aplica a las embarcaciones de recreo y deportivas, para incentivar así las ventas del sector.

Landaluce hizo estas declaraciones durante la presentación en Madrid de la 47 edición del Salón Náutico de Barcelona, que contará este año con la presencia de más de 600 expositores y que se celebrará entre el 8 y el 16 de noviembre.

Las cifras a las que se refirió eran el IVA que se aplica a las embarcaciones de más de 12 metros de eslora, del 12 por ciento, y el impuesto de matriculación, "que no existe en más países" y que lo hace similar a los automóviles, según explicó el director general.

"Creemos -dijo- que se debe tener en cuenta que el sector náutico español da trabajo a unas 115.000 personas de forma directa o indirecta, mientras que en Italia, donde hay una política fiscal distinta, se llega a los 680.000 puestos de trabajo".

El Salón, al que es espera casi 200.000 visitantes, será inaugurado por la ministra de Defensa, Carme Chacón, y en él se expondrán 250 barcos y se celebrarán 190 actos relacionados con varios aspectos del sector.

La residencia de las personas juridicas - Caso 2

Dña Sofia Torres, directora de la asesoría fiscal de ABOGADOS TORRES, conocido despacho profesional de abogados, debe resolver únicamente con la legislación interna española, es decir sin tener en cuenta la aplicación de los convenios para evitar la doble imposición internacional suscritos por España, diversas consultas de fiscalidad internacional que le han formulado algunas empresas nacionales.

1. PRODUCTOS LOPEZ se constituyó ante notario español como sociedad limitada española el 21 de noviembre de 1994 en Alicante, inscribiéndose posteriormente en el Registro Mercantil. Su domicilio se fijo en las Islas Cayman. La dirección efectiva de los negocios de esta entidad se encomendó a D. Morgan Smith, residente jamaicano.

D. Jose Lopez, presidente general de la sociedad, quisiera que D.a Sofia le contestara a estas cuestiones:
a)¿Dónde está regulada en la legislación fiscal española la re sidencia de las personas jurídicas?
b)¿ Cuáles son los criterios de residencia según la legislación interna española para las personas jurídicas?
c)¿Cuál es la residencia a efectos fiscales de PRODUCTOS LOPEZ

2.En el caso anterior, asumiendo que PRODUCTOS LOPEZ se hubiese constituido en las Islas Cayman ¿Sería residente a efectos fiscales en España?

3.La Sociedad KING KONG dedicada a la inversión internacional, se constituyó en Hong-Kong en el año 1995 conforme al Derecho de di cho territorio. Su domicilio es el despacho de abogados Kawasaky Associates. Su administrador único es Mr. Kawasaky.

D. Mario Hechevarria, presidente de KING KONG, quisiera que se le aclarara si a efectos fiscales esta sociedad es residente en España. En caso de ser así, le gustaría que se le indicase si dejaría de serlo en cualquiera de estos cuatro casos:

a)Si Mr. Kawasaky, residente en Hong- Kong, fuese sustituido por D. Marra Roca, de nacionalidad española.
b)Si D. Juan Castro, de nacionalidad española, fuese el principal accionista de la sociedad.
c) Si KING KONG realizase el 100 por 100 de sus inversiones en España. Si las decisiones de inversión y la dirección efectiva de los negocios de la sociedad se realizan en España, utilizando como sede ESPAÑOLA DE INVERSIONES, sociedad residente en España.