Sun, 22 November 2009
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Tax and accounting matters need not be overly complicated as long as you get off on the right foot, says Expatica Spain tax expert David Cook.1. Get an NIE number.
This is a Spanish ID number which is essential for just about any legal, fiscal or bureaucratic transaction such as opening a resident’s bank account, filing taxes, buying property etc.
It’s not essential for a non-resident who simply stays in Spain a few weeks a year but if you want to live here longer term, find work or join the social security scheme etc, it will be obligatory.
For an EU passport holder it’s a formality but non-EU nationals will probably need to find a local “gestor” to get together all the necessary papers and forms to make the application. It can also be applied for at a Spanish Consulate in your country of residence.
In all cases it will take some weeks to be issued so if you need one, don’t leave it to the last minute!
2. Before starting a business seek independent advice.
If you want to start a business in Spain get advice on the alternatives available, advantages and disadvantages of each, tax implications on the owner and the associated costs and obligations. 
The usual options open to set up a typical business are limited and not complicated but local professionals can confuse foreigners (due only in part to the language barrier) and at times sell a service that is unsuitable to the business's requirements, or even unnecessary.
3. If you’re running a business (limited company, sole trader or freelance), talk to an expert on what tax returns need filing.
Most business will have to file quarterly IVA (Spanish Vat), annual summaries and an annual tax return (“Impuesto Sociedades” for companies, “Renta” for individuals).
Other returns such as employee/sub-contractor income tax, rent payments or EU operations will be applicable depending on individual circumstances. The penalties for non-filing, or even late submission, can be heavy and may lead to a tax inspection.
Before you head out to explore the new city, make sure your paperwork's all done by referring to our guide.
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Too many fiestas and too little time; Expatica presents our pick of the top monthly festivals in Spain so you won’t miss out on the action.
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