Many of the frustrations that arise when starting a business in Spain are due to a lack of knowledge about the local compliance system.
Make sure you have understood all the aspects that are relevant to your particular trade before you begin to minimize the problems.
If you have any questions, be sure to consult a professional as this will greatly contribute to your chances of success.
As a self-employed person in Spain, you will have to pay your social security every month. This will allow you to enjoy the Spanish national health system and a pension when you retire.
Therefore, you must hire the services of a manager or accountant who can help you register on the treasury (tax office) as a self-employed worker and make the quarterly and annual accounts.
As an individual, you are not required to keep records that include a general balance. Your minimum obligation is to keep records of all your sales and business expenses; So that it complies with the required standards.
Of course, although you are not required to maintain a balance, you can benefit from it, as it will help you manage your business more effectively.
As with any other business, taxes must be filed quarterly presenting the corresponding declarations. In addition to the general obligations that apply to all companies, you may be required to file a statement that shows the accrued benefits for the current year.
Once the year ends, you will have to file a personal income tax return. This statement will combine all your sources of income, including the profits from your business, and all the tax breaks you are entitled to as any other resident person.
Once your final tax liability for the year has been determined through this process, you must make a balance payment or request a tax refund.
How can we help?
VAT, registrations in the Tax Office, Taxes on Economic Activities, withholdings, informative annual tax returns, payment of taxes in installments, income tax on natural persons.
