Legal & Financial

ALBORS GALIANO PORTALES hires partner Miguel Angel Sierra to boost their yachting practice in the Balearic Islands ALBORS GALIANO PORTALES continues to strengthen its practice areas by boosting its yachting practice in response to increased demand in the area, especially in Baleares, where yachting has a big impact both socially …

UK dividends rose sharply in 2016, boosted significantly by the weaker pound and special payments. While politics has thrown up plenty of surprises in recent months, the latest figures from the Dividend Monitor from Capita offer a reminder that leading stock markets have sailed on through relatively unscathed. The report …

As is well known, chartering in countries like France, Italy or Malta can benefit from really reduced VAT rates on charter fees. This is not the case in Spain. What is the reason why? Let’s find out what are the legal grounds on which this VAT reduction is based and …

Most commercial yachts based in Spanish marinas are owned by European companies, which in many cases are registered for VAT purposes in their respective countries. It is very often that local Spanish suppliers and clients end up in a conflict situation over whether the goods supplied to these yachts should …

As The Islander closed for press it seems that we are a few days away from British PM Theresa May triggering the infamous Article 50, and starting the two year countdown clock that will end with Britain’s exit from the European Union. There is, of course much to be discussed, …

To date, the current approach of the Spanish tax agency on yacht chartering operations in Spain is that this kind of income is classed as a business profit in accordance to the OECD international tax conventions. Therefore, in absence of a double tax treaty in place between Spain and the …

  As you might be aware since recent times there have been already several court decisions declaring null and void the minimum interest rate clause in the Spanish mortgage contracts as mortgages with the interest linked to the Euribor should fluctuate (that is the so called “hipotecas con cláusulas suelo” …

  According to a recent report, UK pensioners have a higher monthly income than the average working household in the UK, only by £20 admittedly, but it is a trend heading in the wrong direction if long term growth and prosperity are your goal. In 2001 workers out earned pensioners …

Customs – Temporary admission declaration. Spanish approach The temporary admission procedure laid down in article 250 of the Union Customs Code – Regulation (EU) No 952/2013, which came into force on 1 May 2016, allows non-Union goods intended for re-export to be subject to specific use in the customs territory …

  For as long as I can remember, we have been promised that the future is just around the corner. From the Jetsons to Tomorrow’s World I have been perpetually convinced that this time next year we will be wearing foil suits and have dutiful robots scuttling along at heel …