serveco

On 13 May 2014 the Secretary of State for Commerce has published the official announcement of loans for the modernization of internal trade of this year.

This line will support, among other things, the opening, refurbishment or modernization of business premises, as well as the implementation of information and communication technologies (ICT). It shall have a budget of 29 million euros.

Of the total budget to be financed, a maximum of 50% shall be allowed for the needs in current assets of the business.

The deadline for applications ends on 13 July 2014, and the minimum investment required is € 30,000, being the maximum € 640,000. It is possible to finance until 80% of the budget with 5 or 7 years loans with one year of interest only or 10 years loan with two years of intrest only and a fixed interest rate of between 2.425% and 3.845%, plus up to 4.30%.

It is necessary to apply for aid before the start of the investment and the time allowed for implementation is four years for projects exceeding € 300,000 funding and two years for those whose financing is less than that amount.

Funds from this line of aids come from the Financial Fund for Aids to Domestic Trade but will be channelled through the Financial Institutions and the ICO through the mediation lines of the latter. Financial institutions will analyse the solvency of the project and require the necessary guarantees.

SERVECO

Last year, by Real Decreto 828/2013, the Spanish Government passed a new formal obligation for this kind of entrepreneurs that calculate their activities by the system called “modulos”

The novelty is not the fact that they have to fulfill throughout the year a book of the invoices they received from their suppliers for the services and goods that they use in their activity. That obligation already existed and it was necessary to make the final calculations of the VAT to pay at the end of the year.

The novelty is that for the first time these entrepreneurs will have to fulfill form 347 during February 2015 for the acquisition of the services and goods that have to be register on the book of invoices received.

So, in order to now wait until the end of the year, we recommend you to fulfill that book carefully throughout the year, as figures declared will have to match with the figures the suppliers have as well.

Antonio Robles Jara

antoniojara@serveco.es

From April the 3rd of 2014, the Spanish Parliament has passed the new Law of Commerce Chambers. After the abolition of the compulsory tax due to the Chambers by all companies, either they were personal entrepreneurs or societies, arose the doubt about what would be the new obligations for companies to finance the Chambers of Commerce.

The new law foresees that the affiliation to the Chambers is compulsory but no economic duty can arise from it. The financing of the Official Chambers of Commerce will come from the services that these Chamber might lend to their companies, gifts and donations from companies and revenues from their own heritage.

Antonio Robles Jara

antoniojara@serveco.es