Category Archives: English

Date: 17 April, 2014

Categories: Economic Trends English

The end of the “depressive spiral”?

According to statistics from the Spanish General Council of Notaries, released on last Monday, housing sales in Spain increased by almost 40% in February 2014 in comparison with February 2013, while the purchase price rose by 0.6%. This is another increase in quick succession after the large rises of housing sales by 59.2% and purchase… Read More »

Date: 21 March, 2014

Categories: Economic Trends English

Foreign investment trends in Spain 2013

After a few years in the intensive care unit, foreign investment in Spain grew by 8.8% in 2013, achieving a total volume of investment of over EUR 15,800 million. The investment flow was particularly focused on the following four sectors: finance and insurance (EUR 3,140 million), the manufacturing industry (EUR 2,641 million), real estate (EUR… Read More »

Date: 6 March, 2014

Categories: English Labor Law

Royal Decree-Law 3/2014, of 28 February, on urgent measures to promote employment and indefinite employment contracts

The Royal Decree-Law 3/2014, of 28 February, published last March 1, provides a wide range of urgent measures to promote employment and indefinite employment contracts. The most important measure is without doubt the reduction of social contributions in order to promote the net creation of stable employment. All companies will benefit from the aforesaid measure,… Read More »

Date: 28 February, 2014

Categories: English Tax Law

Law 2/2014, of January 27, on tax, administrative, financial and public sector-related measures

As of January 31, 2014 and until December 31, 2014, all housing rental contracts not subject to VAT (“Impuesto sobre el Valor Añadido”) will be subject to Property Transfers and Documented Legal Acts (“Impuesto sobre Transmisiones Patrimoniales y Actos Jurídicos Documentados”) by a 0.3%. This percentage will be calculated over the total amount to be… Read More »

Date: 6 February, 2014

Categories: English European Union

Europe against financial market manipulators

The European Parliament recently approved the implementation of tough EU-wide criminal penalties for market abuse. The votes reached by the plenary session of the Parliament clearly showed its intention to “restore confidence in EU’s financial market and improve investor protection” by stipulating severe criminal penalties (with a minimum jail sentence of 2 or 4 years… Read More »

Date: 30 January, 2014

Categories: English FPS News

New term for the implementation of SEPA

The European Commission has agreed to postpone to 1 August 2014 the end-date in the euro area for the migration of domestic and intra-European credit transfers and direct debits in Euros towards Single Euro Payment Area (hereinafter referred to as “SEPA“) credit transfers and SEPA direct debits. The rationale behind the decision of the CE is… Read More »

Date: 15 January, 2014

Categories: English FPS News

The future of renewable energy in Spain

According to the press release of the National Markets and Competition Commission (“Comisión Nacional de los Mercados y la Competencia”, hereinafter referred to as “CNMC” by its Spanish initials) published today, this regulatory authority supports the decision of the Spanish government regarding the termination of the renewable energy bonus scheme. Even though the report on… Read More »

Date: 9 January, 2014

Categories: Economic Trends English

2014: A YEAR FOR OPTIMISM

According to the report Business Perspectives in Spain and Europe 2014 (“Perspectivas Empresariales en España y Europa 2014”) drawn up by several Chambers of Commerce all along the country and published yesterday, a “significant” improvement regarding the turnover of Spanish companies is to be expected for the present fiscal year. This improvement will be mainly… Read More »

Date: 27 December, 2013

Categories: English Legislation

SOME STEPS TOWARDS MARKET UNITY

Law 20/2013, of 9 December, Guaranteeing Market Unity, entered into force this month in order to overcome the piecemeal legislation regarding the requirements to be met by the companies operating in Spain, which were until now set forth in the corresponding commercial regulations of each autonomous community. Among others, the abovementioned Law provides the following… Read More »