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Valoración: 2
, Fecha: 14/01/10
... TRANSMISSION OF COMPANIES AND MANAGEMENT FEES: LET THE SOUFFLÉ TURN UP! Spanish Neither am I obsessed with management fees, nor want to keep you in suspense with a series of posts as if this was ”Twilight,” but if managers do not charge correctly, reductions in inheritance and gift tax might be lost. Here is the recipe:
Ingredients : to be a shareholder of the company, having done management tasks and charge for it. Preparation : Weigh your company shares and make sure they add up to 5% of the capital share. Gradually pour into the pan the fees that each of them receive for managing the company, until the amount of anyone’s management fees is over 50% of the rest of their returns. If, however, everything is correct, place it in the oven and let the soufflé turn up until you decide to serve it via inheritance or donation. ...
Valoración: 2
, Fecha: 04/01/10
... TAKE THE QUIZ “WHAT KIND OF MANAGER ARE YOU? AND YOU WILL KNOW IF YOUR SALARY IS DEDUCTIBLE Spanish In my post of 8 May 2009, entitled “Remuneration of administrators, deductible or not? Here I go because there are some and are so important that most companies are deducting wrong the salaries of its managers in the Company Tax. You are the Caesar of the company, your unique mission is to lead the empire and you are paid for this. You are the boss of the company, but your salary is paid though a payroll of senior management (so, as for salary purposes your disguise yourself for Marco Antonio, who has power, but less because he must obey Caesar). Part-time you do management tasks and part-time you do production work: repairing cars if the company is a workshop, making statements of income if it is a tax adviser firm, drawing plans if it is a company of architects … to sum up, you are ready for everything. ...
Valoración: 2
, Fecha: 15/03/11
... Spanish Lately jurisprudential waters run roughly regarding to mortgage execution …, this procedure in which the bank sues you because you cannot pay the loan fees on time and is able to implacably seize all your goods and your guarantors’, he founds in its path to recover the debt. It is the nightmare that haunts real estate companies and developers. Our customers turn pale when we explain them that going to the bank and deliver the keys of the promotion is not enough to get rid of the debt. Here magic is limited to rabbits showing up of top hats, but has not yet reached the court: if the debtor doesn’t pay the mortgage, the property is executed and sold at auction. The foreclosure procedure follows its own course and the property is put up for auction. For that reason, the bank asks to the judge to continue the execution and never stop seizing the promoter’s goods until the bank receives the last owed cent. ...
Valoración: 2
, Fecha: 08/02/11
... Suppressing the compulsory payment to the Chambers of Commerce, Industry and Navigation. Speeding up the creation of companies (or so they say), so that the procedures for setting up a LLC can be made “within a maximum period of one to five days” (I won’t believe it until I see it!). Reducing obligations of publicity of some company acts in newspapers (not in the BORME, the public diary, because this money goes to the State!). CONS: The other side of the coin is the new criminal liability of legal persons. In other words, firms now can be sentenced by either a faulty management of risks arising from their activity, or for a lack of command of the organization and breach of the duties of monitoring. The danger may arise when focusing on companies, individuals who run them go scot-free…
Let this post be a mere approximation of what lies ahead, that, for sure, will be something worthy to talk about and what we will be discussing about in next posts. ...
Valoración: 2
, Fecha: 19/04/11
... Don’t worry; we come to the rescue of all of them. According to INT/3215/2010 Order, of December 3 leasing companies are required to notify to DGT, the DEV of the tenants. That means that companies which use leasing to hire company vehicles should, in turn, communicate the corresponding DEV to the leasing company. When the company is punished for traffic offences and in case of driver identification requests, notices will be sent to the email designated as DEV. The Road Safety Legislation requires companies to have the DEV from 25/11/2010 and violating this obligation is considered a minor infraction that is punishable by a fine up to 100 From May 2012 these notices can only be notified throughout DEV and if your company has not issued it, neither it’s not operative or it is not possible to notify you for any other reason, please don’t think of looking up the Province Official Journals, it is not “trendy” anymore. ...
Valoración: 2
, Fecha: 30/06/10
... State Budget Law, Law 26/2009 of December 23rd introduces an increase of the general and of the half or reduced VAT rates This increase in tax rate affects mainly to the transfer of real state by individuals, and also in case of transfers between entrepreneurs, if the purchaser can not waive the VAT exemption or if the transmission of a whole of business assets are transmitted. It will also affect those companies that buy real estate homes for an onward transmission and opt to apply the reduction of 70% on the amount of tax, because they will apply the rebate on the amount calculated by applying the tax rate of 8%, not 7% as before. Transmission of securities (eg stocks, shares) and subscription rights of art. 108 of Law 24/1998 on the Securities Market: going from 7% to 8 Transmission of means of transport : it goes from 4% to 5 Furthermore, Stamp Duty (AJD) , applicable on the first copies of deeds and affidavits, and other documents, increases from 1% to 1.2 ...
Valoración: 2
, Fecha: 26/11/09
... BANKS WITHOUT BORDERS Spanish If after reading the title you think that, after the trauma of the crisis, banks want now to abandon their chrematistic guidelines and become saints by feeding the hungry and drink to the thirsty … is that you are simple souls! Not exactly banks have fallen horse and, like St. Paul, suffered a sudden conversion to altruism, what happens is that the European Committee for Banking Sector (EBIC) has decided to step ahead in the real economic integration of Europe. To achieve this purpose, some measures have been established to ensure that direct debit between the countries of the union is so easy and safe as within the same country. In practice this means that citizens of the EU -plus Iceland, Norway, Switzerland, Liechtenstein and Monaco- will be able to pay by direct debit from any aforementioned territory. We will see if this works as it should and, above all, if banks charge reasonable fees for providing us with these services. ...
Valoración: 2
, Fecha: 08/07/11
... GENERAL MEETING AND ANNUAL ACCOUNTS: THE SAME SONG EVERY SUMMER? This is why the Capital Company Act (LSC) requires that the Meeting Board of a Public Company must be called a month before the scheduled date for it to be held, and just 15 days for Private Limited Companies. Only if the company does not have a website the advertisement, the call will be published in a newspaper of wide circulation in the province, in addition to the BORME. At The Public Companies, if after publication of the call, partners representing 5% of capital consider the points on the agenda as insufficient and want to add more, they can do so by requesting a supplementary call Finally, a warning so you don’t fall into the trap of simply shooting the Report of the Financial Statements of the previous year. We hope, then, that you will be good pupils, make a note of our advice and achieve in your exam, by your good management, the bicycle which Zipi and Zape never got. ...
Valoración: 2
, Fecha: 27/10/09
... Improper merger of LLC, now said and done! Spanish Once upon a time there was a European Directive of 2005, which would like to simplify mergers, splits, transformations and other structural changes in companies. Last year’s approved balance sheet of the acquired companies can be used as the merging balance sheet, even if it is more than 6 months old, so we do not need to prepare any special balance sheet on purpose. The agreeement of the acquiring company is enough to approve the merger , we do not need the approval of the acquired ones. As for the press advertisements (and this issue is common to all mergers), only 2 ads are required : one in Borme and another in a newspaper of wide circulation. So if you have two or more LLC and are thinking about regrouping them to reduce management costs, just check if the aforementioned requirements are met and take advantage now to merge your companies, because it is easier now. ...
Valoración: 2
, Fecha: 05/05/10
... Many of them clutched at straws because of the menace of rising Euribor. The pup was perfectly sold: by the grace of the Swap, mortgages and loans would be referenced to a fixed rate for a prescribed period, so the customer could sleep peacefully even if the Euribor was gone through the roof. Okay, we got the contract to read and sign it, but who has the guts to understand a document full of small print and financial terms, most in English? Firstly, because those who signed were misled regarding to the content and scope of the contract. All this is said in the Directive 21/04/2004, transposed to our legislation through the Securities Market Law, the Law of General Conditions of Contract and the Law for Users and Consumers. Therefore, if you are stuck in one of these contracts, no matter if your are an individual, a professional or a company, THERE IS AN EXIT: speak up … if you were slapped once, not turn the other cheek! ...