The main measures of tax increases that collects the Adjustment Plan of the local corporation, include the rise in property tax from the present 2012, with a gradual increase of 0.1 until the year 2016 (in 2013 will increase by 0, 2) for the property for Urban Nature. Thus, in 5 years could lead to over EUR 7,700,000 additional collection was made in 2011.

Meanwhile, the Real Nature Rustic, also undergo an annual increase of 0.1 to get the 0.9 in 2015. This paid in 4 years, over € 19,000 in addition to the municipal coffers.

The tax on motor vehicles will update current 1.5 to 1.8, as of January 1, 2013. This will mean an income of over 1,200,000 per year. Furthermore, the business tax to be set between 2.7 to 3.8 minimum to maximum, from January 1 next year, the City will collect more than 1.1 million euros, compared to exercise of 2011.

The builders, installers and works are not spared from the tax increase, as will current 2.75 to 4, from January of 2013, contributing to the municipal coffers a total of 116,734 euros per year.

The City of Telde enhance the tax inspection to discover taxable transactions not taxed at a series of guidelines that take you to enter some 500,000 euros a year. Turn, will balance income and expenditure on the collection and processing of municipal solid waste, revising the rates increase by 50% in 2013 and 50% in 2014.

The owners of Fords will also see increased spending, but will not pay for the meters of facade but by the number of parking spaces. For this, the Consistory inspection work carried out to help you enter more than 186,000 euros.

In addition, the Matching local government provides for a review of “all other fees and public prices,” even those who have not been reviewed in the last 10 or 15 years. Thus, revenues increased by 200,000.

Expenses

The Adjustment Plan includes the creation of a commission of duplication to define the powers of the Administration. In addition, carry out a turnaround plan for the management of some services will change from direct to indirect.

Retirees will not be reset unless it is “essential” during the time of application of the Adjustment Plan. We also will review the agreements of the working conditions in force at present to fit the financial position of the Directors and indemnities be regulated in different collective agreements, “to adapt to the latest labor reform process.” Thus, if the dismissal is deemed appropriate, the employee shall be entitled to compensation of 20 days per year worked.

The consultants do not come free of adjustment, since his salary is reduced by 10%, which will save annually to more than 164,000 euros Consistory. Also, be dispensed with outside consultants and contract managers, and city staff perform those jobs that can be carried out by the Administration. This will be a total annual savings of 400,000 euros.

The deadline to submit the Adjustment Plan is Saturday, March 31. The Ministry of Finance and Public Administration will conduct a review of the Plan and has a maximum period of 30 calendar days from receipt thereof, to communicate whether or not it is favorable. If the City receives no response in that space of time, the valuation is considered unfavorable.

The Director of Fiscal Services and Control of Collection of the National Tax Administration Office (ONAT), Juan Carlos Vilaseca Mendez, said the press that this year must file their affidavit more than 180 000 taxpayers across the country, which processed by your county prosecutor.

This time the taxpayers help forthcoming to fill the model with specialists of the National Association of Economists and Accountants of Cuba, in the figures of Collector paying bookkeepers and municipal specialists ONAT.

This year, other individuals, including musicians, writers and others not classified as Self-Employed, also have the traditional model Affidavit income in pesos and foreign currencies, whether they have been exempted from payment, as decisions given by the Ministry of Finance and Prices.

In press reports published today is stated that the property tax or possession of vessels to cover up tomorrow, while land transportation will culminate on May 31 this year.

The plan, which must be voted on April 16 in the Senate, with Democratic majority, is unlikely to be approved in Congress. But it symbolizes the efforts of the president and congressional Democrats for being advocates for economic justice.

“I do not envy the success of this nation. We aspire to it, “Obama said in his weekly radio and Internet. “But we also believe that anyone who would do well to return a fair share so that more people have the opportunity to progress, not just a few.”

Obama called the plan “Rule Buffett”, referring to Warren Buffett, the billionaire investor who has complained that the rich as he pays a smaller percentage of their income in federal taxes than middle-class taxpayers. Many wealthy taxpayers pay 15% income tax. Obama has proposed that people who earn at least a million dollars a year pay at least 30% in taxes.

Promoting the Rule Buffett makes the president comes at a time when millions of Americans face the deadline of April 15 to file their tax returns.

It also renews attention to the tax rate of aspiring Republican presidential candidate Mitt Romney, a millionaire who paid 15.4% in federal taxes for 2011 largely by income from investments.

In comparison, the highest rate for taxpayers with high incomes derived from wages, and income is 35%.

In statements on Saturday, the president urged listeners to lobby their legislators to “stop giving tax breaks to people who do not need.”

Obama also renewed his call for an end to tax cuts for taxpayers earning over $ 250,000 annually. Such gaps, implemented during the first term of President George W. Bush, expire at the end of 2012.

A law in approving a series of measures which we will summarize:

Amendments to Corporate Income Tax Law, are modifications of tax adjustment as a result of adaptation to the new PGC, though that was promised to the tax neutrality of the accounting change, not clear.

The abolition of wealth tax, which does not mean that you should not do, but will be subsidized by 100%, ie as a simple model is informative.

In the area of ​​income tax non-residents, changing the regulation of mutual agreement procedures to establish that during processing is not interest for the period.
The long-awaited bonus for the activities of Road Transport.

Changes in VAT and IGIC, such as the period that must pass in order to proceed to the reduction of the tax base relating to transactions wholly or partially uncollectible, the possibility for taxpayers who elect to do so, to implement a system consistent in the application of credit balance outstanding at the end of each settlement period. Taxpayers who choose this option must account for VAT on a monthly basis anyway.

There are a number of other changes though in the list above are the most important from our point of view

Regards and remember you have a link to the law in the name of it.

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He has been a manager in every division of the firm, and these include the job campaign division, the senior executive outplacement, the technology division, and the resume writing department. All these roles and responsibilities led to him acquiring a lot of success, which is why people know him and his organization for their provision of career opportunities,  the offers the have on consulting, the new ventures they offer, and the expert advice that they offer job seekers. In addition, they are helpful when it comes to the establishment of business deals, offering reference and helping individuals to become better in their current professions.

Is removed indefinitely accelerated depreciation, which continue to exist only for SMEs and for expansion of staff.

A pack of 20 cigarettes costing 4 euros on average is 5 cents more expensive.
With the modification of these taxes, the government estimates that 12.314 million euros raise this year.

Snuff

The tax measures announced Friday by the Government and published in the Official Gazette on Saturday include a series of changes in corporation tax for big business and the excise duty on snuff. It also specifies that the tax amnesty will not help taxpayers who are under investigation.

With the rise and modification of these taxes, the government estimates that raise 12.314 million euros this year.
Corporate Tax

With the amendments of this tax the government hopes to enter 5,300 million euros:

The Royal Decree Law temporarily reduces the ceiling of the application of deductions from 35 to 25%. This eliminates indefinitely accelerated depreciation, which continue to exist only for SMEs and for expansion of staff, which will have a positive impact, as the Executive, 840 million euros.

It eliminates the possibility of deferring to other exercises tax benefits, which will be raised 210 million, temporarily change the system of partial payments, 2,500 million more, and limiting the deduction of financing costs indefinitely for 30% this heading, provided from one million euros, involving a further 1,050 million.

It also establishes a tax on foreign source dividends, which will provide 750 million.

Tax snuff

Restructuring the tax system Tax on the Work of Snuff, acting on specific stretches and ad valorem taxes imposed on cigarettes. This measure would increase state revenues by 150 million euros this year:

We review the tax structure in the case of cigarettes, increasing the weight of the specific component versus ad valorem component, which is reduced by two points.

Thus, the cigarettes will be taxed by a flat rate of 55% (previously 57%) and a specific type of 19 euros per 1,000 cigarettes (so far, the specific type was 12.5 euros per 1,000 ), while the bite will be rolling the proportion of 41.5% and a specific 8 euros per kilo.

Taking as practical example shows a pack of 20 cigarettes snuff it takes on average 4 euros:
If you apply the flat rate of 55% would lower the price about 8 cents (2.28 euros presumably on those 4-to 57% – 2.20 would represent the final price).

On the other hand, if before a pack of 20 cigarettes a specific type assumed 25 cents on the price (when 1,000 cigarettes were valued at 12.5 euros), now with the further increase to 19 euros per 1,000 cigarettes, this is expensive 13 cents, to 38.

Thus, by having to subtract 8 cents proportional rate (the 55%) at the price of a pack of 4 euros, while adding 13 cents on the specific type (19 euros per 1,000 cigarettes), the final price would increase at 5 cents.

Other taxes

The royal decree law also includes measures to provide greater financial autonomy to the municipalities in the Tax on the Increase in Value of Urban Land and administrative measures that help to generate savings in the management of the real estate sector public.

Additional information on adjustments and deductions

The obligation to submit information prior to the declaration, through an attached form whose submission is electronically through the electronic record of the AEAT, on the following assumptions:

When the statement has been placed in a negative correction to the result of the profit and loss account in the amount not less than 50,000 in the section on “other corrections to the result of the profit and loss account”, and must describe the nature the adjustment made.

When the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than € 50,000 in deductions:

For extraordinary income: identifying the assets transferred and the assets in which investment is realized.

For environmental investments: identifying investments.
For research and development and technological innovation: identifying investments and expenditures that give rise to deductibility.

For export activities: identifying investments and expenditures that give rise to deductibility.

Annual Accounts 2010

They have the basic information to be incorporated into the model of corporate income tax. In the model declaration of income tax models are integrated normal accounts, and SMEs abbreviated balance sheet, income statement and statement of changes in equity. Not included, therefore, the state cash flow or memory. In addition, organizations subject to the accounting standards of the Bank of Spain, the insurance companies and investment institutions have specific models and will include information on its financial statements on pages 200 model specific.

In general, if completion of a negative starting balance sheet, profit and loss account and statement of changes in equity, it shall be entered preceded by the mathematical sign minus (-).

Statements of income tax of previous years

Give us clues about differences between taxable income and accounting profit that can reverse in 2010, tax losses that can offset, balance deductions applied in the past to draw from now, etc..

Returns and payments on account of 2010 personal income tax, VAT. related income tax

Magnitudes to square the statement contained in the Company with: IVA (annual summary), 190 retention, 180 lease of real estate withholding, 193 (annual summary of deductions from capital, etc.).

Instalments of 2010
Certificates of withholding tax on real estate leases on investment income earned from entities under the attribution of income, if the company is participating or commoner or donations or gifts made in the exercise and gifts or donations.

Check fiscal adjustments

We must analyze and review accounting and possible differences with the fiscal criteria. Keep in mind the fiscal adjustments to the implementation of PGC 2007.
Tax optimization

The points of impact for proper tax optimization lies in the determination of the tax base and the tax credits.

Expenses not deductible

You have to identify the various items of expenditure accounting that are not tax deductible (fines, criminal or administrative penalties, donations or donations). In your case you must make a positive adjustment to book income by the amount of expenditure accounted for.

Depreciation

We review the methods and depreciation rates used in accounting to see if they are supported by the tax law.
Offset of tax losses from previous years

Can practice in the next 15 years. This offset the society can practice at their convenience, as an instrument of tax optimization.

Tax credit for reinvestment of extraordinary profits

Check if we have integrated capital gains in 2010 or in previous years, likely to benefit from this deduction provided reinvestment. The tax credit rate and the applicable rules are those of the year in which we integrated the rent.

Remember that there is a requirement to submit pre-filing information through a form, where the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than 50,000 euros, identifying transferred assets and property in which the investment is realized.
Deductions for domestic double taxation (dividends and capital gains)

Check if you have pending application and deductions from previous years. This same applies to the deduction for international double taxation.

Tax credits and limits

Deductions are a good tax optimization tool that companies must make proper use, respecting the legal limits. Note deductions for investments and the percentages for the year 2010 that have been vary from previous years.

Remember that there is a requirement to submit pre-filing information through a form, where the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than 50,000 euros in the following deductions:

For environmental investments: identifying investments;
For research and development and technological innovation: identifying investments and expenditures that give rise to deductibility;

For export activities: identifying investments and expenditures that give rise to deductibility.

Smaller companies: remember that for these companies (turnover below the previous year to 8 million) can take a number of incentives:

Accelerated depreciation with job creation: possibility of new elements freely amortized plant and equipment and investment property if the average number increases. Accelerated depreciation amounts to a maximum of 120,000 euros per man / year increase in staff.

Accelerated depreciation for investment of limited value: it can be applied to new property, plant and made available to the body in the exercise, having a maximum value of 601.01 euros each, with a maximum repayment of 12,020 global free , 24 euros.

Accelerated depreciation of new items of tangible assets and real estate investments: can multiply by 2 the maximum coefficient of linear depreciation tax tables.

Fixed amount of the debit balances not individually equipped, 1%.
Accelerated depreciation (calculated by multiplying by 3 the maximum coefficient of tables) applicable to tangible fixed assets and investment property in which the reinvestment is materialized for the deduction for reinvestment of extraordinary profits.

Deduction for promotion of information technology and communication, with rate of 3% in 2010.

First, it has set a limit to the deduction of interest expenses. This measure was implemented in major European countries and was essential in Spain. A situation where you have many foreign income exemption, dividends and capital gains earned abroad, and absolute liberty to deduct the expense necessary to obtain this income was literally unbearable. If, in addition, Spain was a country with a corporate tax rate comparatively high, the multinational groups concentrated their borrowing in Spain, where it was easier, because there were no limits, and cost, since the tax was higher. This had devastating effects on the collection, but also in the indebtedness of companies, one of the main problems of the Spanish economy.

Benefits abroad

This limitation means that in future no more profitable to invest abroad in Spain for purely fiscal reasons. Previously, foreign investment was better treated than the investment tax in Spain. This was because foreign income were exempt (not numbered), while other financial expenses deducted (subtracted) from the tax base. In domestic transactions, all added and subtracted, thus paying more taxes. The defective tax legislation entailed creating jobs abroad at the expense of its destruction in Spain. We could not afford.

Another reform that we had some time calling for was the elimination of accelerated depreciation without maintaining employment. This measure in some large companies, which by its business model had to make ongoing investments, which were caused continually deferring the tax, ie it should pay no never. Moreover, only large companies could finance investments, as they were the only ones that had access to financial markets. Consequently, SMEs, which are the main creators of jobs, competing on unequal terms. If we join the withdrawal of the job maintenance requirement, which led to EREs in large companies with profits, we were also faced with a tax measure totally contrary to the creation and maintenance of employment, at the same time extremely burdensome to the treasury public.

Of other reform measures, which are purely tax collection, you can not make a very positive assessment. Take the amortization of goodwill of a merger, or acquisition of a non-resident owned (the famous Article 12.5 of the Tax Act) to one hundred years is at least surprising. This should be temporary and recover a reasonable time for repayment, when the worst budget crisis has passed. We are not talking to correct a structural defect of the tax, but to collect, although this limit the investments that companies have to make. Something similar applies to the establishment of a minimum installment payment. If the company ultimately did not have to pay both corporation tax, has granted an interest free loan to the Treasury for a period that may exceed one year. Such measures could be criticized in the past, but very hard on a budgetary review. What you need to ask is to restore a more balanced when the worst of the crisis has passed.

In general, the correct tax reform, in my opinion, the most serious structural defects, which is significant and positive. This reform also has purely tax collection measures, which will hopefully be up within a period not too long. So that would address the comprehensive reform of the tax that seek not only collection but also equity and competitiveness of enterprises and economic growth.

As explained in The Confidential January, accelerated depreciation on fixed assets is primarily responsible for the payments of the “big tax groups” fall by 74.2%. This measure was introduced by Elena Salgado at the end of 2010 (entered into force in 2011) and eliminated the requirement to maintain or create jobs to qualify for this tax benefit.

Now, this freedom is removed for new operations and to introduce a transitional regime for the former, although with limitations Cristobal Montoro Minister did not specify. It only remains for SMEs, and if re-linked to the expansion of staff.

The other hole is eliminated, as anticipated The Confidential, is the limitation of the deduction of financing costs to 30% of gross operating profit (EBITDA) with the exception of the first million euros. Until now, companies could be deducted without limit interest payments, which gave rise to many abuses. This measure will also have significant negative consequences for large companies and highly leveraged businesses, such as investments in renewable energy.

A report found that Natra BBVA, Abengoa, Prisa, ACS, OHL listed companies will be most affected by the deletion of this measure. In reaching this conclusion, the bank estimates the financial cost overruns on the 30% of EBITDA of each company. Having made that excess subtracted calculates the extra taxes you’ll pay this expense limitation. Multiply these new taxes for the average market PER (10 times in most cases) and compares the market value of the new taxes the capitalization. The highest percentage is for the companies mentioned.

Impact of billions
According to the inspector of finance, “plug these two holes will not only bring several billion euros in revenue, but also very positive economic effects re-locate investment and employment in Spain residenciaban previously in other territories by the poor drafting of the tax rules. “

It also reduces from 5% to 1% annual limit deductible goodwill to match all the financial goodwill (the bargain they had Spanish companies to undertake overseas purchases, which was banned by Brussels from 2008). Another step is determining a minimum installment payment for companies with profits exceeding 20 million, which is 8% or 4% depending on the circumstances of each company. Further, there is reduced current limit for all deductions from 35% to 25%, including reinvestment of profits. The latter two measures are in effect only in 2012 and 2013.

Every day we make choices based on cost: as gasoline selling for 10 cents less on the left side of the street than on the right, a few of our right to fill up the car. Likewise with taxes: they are a cost that a company locates rightly considered as the new plants, distribution networks creates and hires employees. Taxes are not the only or the main cost to be considered, but they do matter. The u. S.

system must change to remain competitive. Second, tax rates matter. A crucial aspect of tax competition is the tax rate. Unfortunately, while the individual rates are reduced, the corporate rate has remained unchanged since the 1990s. In contrast, reducing the tax rule of the day in Europe.

Significantly, not lower rates does not mean lower revenues. Economist Martin Sullivan of the independent publication Tax Notes has confirmed that reductions in tax rates in European countries have led to increased tax revenues. Furthermore, a recent study of more than 70 countries by the American Enterprise Institute links greatly reduced rates for companies with higher wages. Corporate tax cuts should do the same here. Third, the tax base issues also.

The amount of revenue from a tax system is the product of the tax and the tax base. Although some incentives-such as those for research and education-have broad support, a growing consensus in favor of lower rates and broaden the tax base to reduce complexity, ease tax administration and to minimize the role of government in picking winners and losers. Fourth, complexity issues. An important advantage of reducing the loads by means of a reduction is that such a system is much easier to build and, therefore, easier for the tax payer in order to follow. Simple is good, because the complexity is a huge hidden tax on American business.

The Tax Foundation estimates that in 2005 cost the taxpayer $ 265 billion to meet federal income tax laws, with industry accounting for less than 55 percent. It is time to reform the corporate embrace to promote growth, create jobs and trade and budget deficits. Michael P. Boyle is chairman of the tax executives institute, an organization of more than 6. 000 corporate professionals.