Spain: New Labour Penalties Applicable as of 1 October 2021 & Other Updates in Labour Regulations

The approval of Law 10/2021, of 9 July, on remote working (BOE 11 July 2021), modified the First Final Provision, Article 40 of Royal Legislative-Decree 5/2000 of 4 August, which approves the consolidated text of the Law on Infractions and Penalties in Labour Matters (Ley sobre Infracciones y Sanciones en el Orden Social or “LISOS”) in such a way that the amounts of the penalties indicated below shall increase as of 1 October 2021 as follows:

This entry was posted on 30 July 2021 by Monika Bertram in Labour.

Spain: Limitations on the Distribution of Dividends

The month of June: for the majority of companies, that is, those for whom the financial year coincides with the calendar year, June is an extremely important month. This is due to the timing of the legally established deadline to agree upon, inter alia, the approval of annual accounts and the distribution of profits.

This entry was posted on 28 July 2021 by Christian Krause in Corporate and M&A.

Spain: New Elements in VAT Regulations Regarding E-Commerce (II)

Following the news on VAT in relation to e-commerce, on 15 June the Spanish government modified the VAT regulations. As we mentioned in a previous article on the introduction of the single window environment with respect to distance sales, this is an attempt to facilitate and promote digital commerce by implementing measures reducing the administrative load associated therewith. Below is a brief summary of certain aspects of the VAT regulations.

This entry was posted on 26 July 2021 by Gustavo Yanes in Tax.

The Creation of Companies Increases 28.8% in Spain

In June, the creation of companies increased by 43.1% since last year and by 28.8% as compared with June 2019, according to data provided by the Official Association of Registrars of Property, Companies and Moveable Assets of Spain.

This entry was posted on 19 July 2021 by Corporate Law Department in Corporate and M&A.

ERTEs: The Newest Trending Topic

ERTEs due to force majeure based on causes related to COVID-19 and ERTEs due to impediments to and/or limitations on activity as a consequence of the pandemic have been extended for the fifth time.

This entry was posted on 2 July 2021 by Patricia Rivera Almagro in Labour.

Penalties for Failure to Deposit Annual Accounts on Time in Spain

In the Spanish Law on Capital Stock Companies (Ley de Sociedades de Capital or “Law”), there is an article (283) which historically has not been attributed much importance because in practice either it was not applicable or very seldomly applied. The article foresees various fines (up to 300,000 euros) for companies that do not deposit their annual accounts by the legally established deadline.

This entry was posted on 24 June 2021 by Christian Krause in Corporate and M&A.