With hybrid work becoming the new normal, many companies are wondering how to cultivate and foster a hybrid work culture. A survey found that 76% of HR leaders believe that hybrid work challenges their employees’ connection to organisational culture. Culture is certainly easier to foster in person; however, that doesn’t mean it’s impossible to cultivate… Read more »
It’s official: EVs are now exempt from Fringe Benefit Tax (FBT) in Australia for a limited time! The Treasury Laws Amendment (Electric Car Discount) Bill 2022 officially passed in December 2022. This bill will allow company cars that are fully electric or plug-in hybrids to be free from FBT. FBT is a tax that is… Read more »
We all know the importance of onboarding, but you can’t forget offboarding. While less exciting and indeed sad, offboarding is an essential and crucial part of the employee lifecycle. Just like onboarding, offboarding involves both personal and professional tasks to successfully transition an employee out and efficiently set up for the employee coming in. Offboarding… Read more »
Italy Business Culture When you think of Italy no doubt you would think of these three things; pizza, pasta, and coffee. Or maybe you think of Fendi, Fiat, Ferrari, Gucci, Leonardo Da Vinci? There are no bounds to Italy’s exports – even its food is considered the most popular cuisine in the world. But do… Read more »
For more than 15 years, Real I.S. Australia has built an impressive portfolio of AU$1.35 billion and over 160,000 square metres. In 2022, they closed the largest commercial property deal in Canberra, selling the state-of-the-art Geoscience Building for AU$363.5 million.
Conflict in the workplace is always a tumultuous experience. It ruins morale, lowers productivity, and creates a toxic office environment. When you have the walls of a screen in the middle, it’s all the more difficult. Remote and hybrid work have their pros; they have been shown to improve productivity, reduce stress, and provide work-life… Read more »
In Australia, there are 8 national public holidays observed as part of the National Employment Standards (NES) that underpin employment throughout the country. In addition to these key dates, some states and territories also have additional regional public holidays or substitute public holidays. Substitute public holidays mean that if a public holiday falls on… Read more »
France observes and celebrates a number of holidays throughout the year, whether religious holidays, seasonal holidays, or national holidays relevant to the history of France. Should your foreign business have a presence in France, it is important to keep on top of all public holidays from a HR compliance perspective. For ease, we’ve summarised all… Read more »
Pets bring a lot of joy to the office. A 2012 study has shown that they reduce stress and increase productivity – boosting employee wellbeing; your friendly pooch is not just man’s best friend but an office cheerleader. While it’s great to have pets in the office for both your employees and their furry friends… Read more »
A modern award is a set of minimum terms and conditions for employment in Australia. If you have or are planning to open a business in Australia, you must already know about “modern awards”. They are one of the most important documents in employment in Australia and apply to both employers and employees and failure to… Read more »
Spain is a country on Europe’s Iberian Peninsula, which includes 17 autonomous regions with diverse geography and cultures. Its territory also includes the Canary Islands off the coast of Africa and the Balearic Islands in the Mediterranean Sea.
Spain’s population is approximately 47.3 million people.
Spain ranks as the 14th largest economy with its national GDP valued at $1.715 trillion.
The economy of Spain is one of the largest in the world by purchasing power parity. The country is a member of the European Union, the Organisation for Economic Co-operation and Development, and the World Trade Organisation.
Also, the Spanish economy is the fifth-largest in Europe behind Germany, United Kingdom, Italy, and France. It is the fourth-largest in the Eurozone, based on nominal GDP.
Spain is part of the harmonised trade system of the EU. As such, imports and exports are covered by the EU Taxation and Customs Union.
Spain’s most valuable exports are cars, followed by refined petroleum oils, automotive parts or accessories, drugs and medicines, trucks, and olive oil.
Spain’s number one import product is crude oil, followed by imported cars, auto parts and accessories, medication mixes in dosage, petroleum gases, and refined petroleum oils.
Spain has been a member of the WTO since 1 January 1995, and a member of GATT since 29 August 1963. It is a Member State of the European Union. All EU Member States are WTO members, as is the EU (until 30 November 2009 known officially in the WTO as the European Communities for legal reasons).
Expanding to Spain? Here is a breakdown of the key things to keep in mind.
The Spanish market boasts huge potential for business opportunities. Setting up your business in Spain can be done through various methods, such as partnering with an Employer of Record or ETT (Empresa de Trabajo Temporal) to outsource employment, opening a representative office, setting up a branch, or establishing a subsidiary in Spain.
Curious to simplify setup and best understand Spain’s legislative frameworks around company registration? Click here for more information.
In Spain, the personal income tax is called the IRPF. It works following a dual system and is levied both at the national and municipal level. Therefore, Spanish income tax rates are different from one region to another.
The deadline to submit tax assessments can vary. Generally, taxes must be filed by the 20th of each month or by the 20th of each month following the end of a quarter. Late penalties and other fees may apply.
Non-resident companies are eligible for a special Tax Regime by the Spanish Government. To comply with Spanish regulations, all companies must register at the Tax Office (Agencia Tributaria) to get a Tax Identification Code. To learn more, click here.
Employment in Spain is highly regulated and very protective of employee rights. Temporary contracts are the most common. Indefinite or permanent contracts are quite rare and difficult to obtain in the current economic climate. Both have minimum employment terms and conditions that employers must observe.
There are 3 types of workers; general employees, executives, and self-employed who have their separate regulation and jurisdiction.
The probation period is not compulsory in Spain, but it could be required, depending on companies’ policy.
However, in Spain, as jobs are grouped into categories, each category can have its own set of regulations. To learn more, download our eBook here.
Everyone outside the EU/EEA states and Switzerland requires a work permit to work freely in Spain. The employer needs to request the work permit on the employee’s behalf; however, it might take up to 8 months to process. Once the work permit has been granted, the employee must apply for a residence Spanish visa.
After arriving in Spain, foreign workers must:
– Register in the corresponding Social Security scheme.
– Apply for a foreigner identity card (NIE).
For more information on this, continue reading here.
As with many European countries, the Tax Year runs on the calendar year, from the 1st of January to the 31st December.
The general rate of company tax is 25% and must be filed within 6 months and 25 days after the end of the accounting period.
Companies pay social security tax equal to 29.9% of the employee’s salary, up to a salary threshold of EUR 3,596.98. Moreover, employees are also liable to pay social security contributions.
The national sales tax on goods and services is known as the IVA, which is 21%.