Tax Advice

The current economic environment has increased the number of international companies and foreign investments in Spain, which has generated an increase in international operations between companies of the same group. However, these companies are faced with increasingly complex international tax systems and regulations, which requires high-quality advice.

At UHY Fay & Co, we have the necessary expertise to provide personalized and quality advice in the international arena. We have the right tools and work in collaboration with our partners in the international UHY network to offer a global, useful and practical vision to our customers.

Our international UHY network allows us to have offices in more than 100 countries and 8,500 professionals with whom we form multidisciplinary teams of international character according to the client’s needs. In this way, we focus on offering practical solutions that meet real business needs at an international level.

These are some of the services we offer in this area:

• We provide comprehensive advice to our clients with international projection, with the objective of detecting optimization opportunities and risks.
• We help avoid international double taxation situations that may arise from international transactions, while identifying potential tax efficiency opportunities.
• We provide advice on the internationalization of companies, paying special attention to the taxation of investment and disinvestment, the structuring of financing operations, the taxation of income flows and the taxation of partners.
• We offer advice on issues related to Non-Resident Income Tax or Double Taxation Agreements.

Are you interested in living in Spain and still paying taxes as a non-resident? The Beckham Law is a special tax regime available to individuals who move their tax residence to Spain for work purposes. This regime seeks to promote the arrival of talent and human capital to Spain with the objective of boosting business development.

In our firm we specialize in providing advice and assistance for tax compliance to companies of all sectors and sizes. We have a team of highly qualified professionals in tax advice at national and international level, including SMEs and family businesses.

We offer a qualified service that takes into account tax planning, financial accounting and compliance with the specific tax obligations of each company. To this end, we have personnel with extensive knowledge of tax regulations who are in close contact with the company’s management, in order to monitor and optimize the tax burden of our clients.

To achieve this, we employ work methodologies that are based on constant communication with the client, teamwork and the use of computer tools that allow us to i) automate processes and obtain all relevant tax information; and ii) detect in an agile and structured manner those tax benefits that may be available to your company, but are not being taken advantage of.

Our consulting services include, among other aspects:

• Fiscal consolidation and optimization of financial resources.
• Restructuring of business groups, mergers, acquisitions or joint ventures.
• Tax regimes applicable to rental housing and SOCIMI.
• Tax regimes applicable to small companies.
• Foreign Securities Holding Entities (ETVE), international tax transparency and redomiciliations.
• Specific tax deductions and reductions, such as the deduction for investment in cinematographic works, reduction for the assignment of intangible assets (patent box) or deduction for R&D+IT.

Our specialists in tax matters have extensive experience in inspection, management and collection procedures, as well as in tax and jurisdictional procedures, where the figure of the specialist is essential to define a sustainable tax strategy focused on obtaining the best results.

We have highly trained professionals to assist our clients in the technical-legal management of inspections and appeals before the economic-administrative and jurisdictional bodies, working meticulously to find the best strategy to defend their interests.

We offer advice on various services, such as:

• Carrying out tax consultations before the General Directorate of Taxes (Dirección General de Tributos).
• Procedures of management and inspection, verification of values, deferral and fractionation of tax debts, sanctioning procedures, and economic-administrative and judicial appeals, including appeals in cassation before the Supreme Court and amparo before the Constitutional Court.

We will be in constant contact throughout the process, providing you with advice in relation to:

• Initial evaluation of the financial aspects of the procedure.
• Identification of the key aspects and strategies for its success.
• Complete advice from the beginning to the end of the process, acting as expert witnesses.
• Preparation of an expert report for use in the negotiation or trial.

Any transaction involving real estate always has important tax implications, both in terms of direct, indirect and local taxation. The real estate sector has a very specific taxation, with several tax regimes applicable specifically to real estate transactions. It is essential to have tax experts in this sector to avoid excessive tax burdens or unnecessary risks.

Professionals in the sector, such as developers, can count on our assistance in assessing the tax consequences of the different phases of real estate development. On the other hand, real estate investors can also count on our advice in terms of investment structure and financing. Each project is unique, so we provide specific advice to each client according to their needs.

We offer a wide range of services related to the taxation of real estate transactions, among which are:

• Tax planning of real estate investments, developments and divestments.
• Advice on project financing.
• Preparation of specific guides for each project that identify and analyze the taxation associated with the different stages of the project, including direct, indirect and local taxes.
• Assistance in the liquidation and management of all local taxes.

At UHY, we have a multidisciplinary team specialized in carrying out reorganization operations, acquisitions and partnerships. We take care of the entire project from start to finish.

In terms of taxation, our advice in this type of process focuses on taking advantage of the tax attributes of the business to be acquired, such as tax credits, and seeking synergies between the companies involved.

Our tax experts have extensive experience in mergers, spin-offs, exchanges of securities, spin-offs, contributions and changes of domicile, and can help you find synergies in the costs of the companies and in the organization of the business activities of your group, both nationally and internationally.

In projects with an international dimension, we rely on the support of our global network to present tax-efficient investment structure alternatives, analyzing in a coordinated manner the implications in the relevant jurisdictions in each case, and performing tax due diligence reviews of multinational groups.

We have extensive experience in advising family businesses. Our team of tax lawyers has detailed knowledge of the specific regulations that apply to family businesses and their partners in Corporate Income Tax, Personal Income Tax, Wealth Tax and Inheritance and Gift Tax.

We help you design the most appropriate corporate structure to ensure that the interests and rights of shareholders are taken into account and to achieve maximum profitability. Among our clients, we have a large number of family businesses, which has allowed us to develop a great deal of experience in this area.

We offer transfer pricing services to help develop, manage, document, administer and defend transfer pricing policies in line with business strategy.

Among the services we offer, we highlight:

• Development of transfer pricing policies for multinational groups.
• Tax valuation of all the most common transactions between related companies, such as the purchase and sale of goods, the rendering of services, the transfer or assignment of intangibles, and financing operations, among others.
• Advice on compliance with transfer pricing documentation obligations, including preparation of the local file, master file and country-by-country report.
• Assistance to taxpayers in transfer pricing inspection processes and representation before courts.
• Advice to taxpayers in obtaining prior valuation agreements with Tax Administrations, whether unilateral, bilateral or multilateral.
• Conflict resolution through amicable procedures.
• Advice on the preparation of arbitration agreements.

We offer advice on VAT and indirect taxation at national and international level, with the aim of helping companies to achieve their goals. We understand that each company is unique, so we focus on solving individual problems in a practical and efficient manner.

Our team of VAT and indirect taxation experts has local and global knowledge, thanks to our presence in more than 100 countries. We focus on finding savings opportunities for our clients in all their activities and investments, both domestic and international.

We offer advice on pre-planning, analysis and management of indirect taxes. We design structures that allow saving financial costs related to VAT, advising on issues such as VAT consolidation, deduction regimes, SII, REDEME registrations, among others.

In addition, we also advise on other indirect taxes, such as Transfer Tax, Corporate Transactions and Stamp Duty.

Residency disputes have become increasingly frequent due to economic globalization and the emergence of new technologies that allow people to establish their residence anywhere they wish. It is essential to carry out a tax analysis to calculate the tax bill and consider possible alternatives to effectively manage wealth when moving to Spain or another country.

It is important to bear in mind that the same transaction may receive different tax treatment in the country of origin and in Spain. Our team of specialists has extensive experience in tax residency issues, double taxation treaties and exit taxes, and we provide advice for both corporate relocation and individuals.

The services we offer include pre-immigration studies, advice on obtaining the Golden Visa, the application of the Beckham Act and other tax benefits available under both domestic legislation and double taxation treaties.

Taxation related to individuals can be extremely complex, as not only Personal Income Tax (IRPF) is applied, but also Wealth Tax and Inheritance and Gift Tax are required in many autonomous communities.

Getting advice on personal tax issues can save costs in many cases. Adequate planning of income, investments, succession and wealth, both personal and corporate, is essential. To this end, it is essential to have the advice of experts in domestic, national, regional and international tax regulations.

In our department, we have professionals with extensive experience in tax advice to large estates, both national and international.

Some of the services we offer include:

• Estate planning studies.
• Succession planning studies.
• Studies on taxation of savings and income flows.