The Spanish Government recently announced new tax reforms with specific measures to stimulate employment.
Online PR News – 17-April-2014 – USA – (Bristol, UK) - The Spanish Government recently announced new tax reforms with specific measures to stimulate employment. These new measures were announced by the President of Government during debate on the state of the nation in Parliament on 25 February 2014, reports Nair & Co., the leading provider of Global HR Servicesfor companies expanding overseas.
The new measures are summarised as follows:
* Significant increase in allowances for family and old age people.
* Income Tax exemption for employees with annual income less than EUR 12,000.
* Employers are responsible to pay flat social security contributions of EUR 100 for general risks for employees hired under a non-fixed term contract and with the following conditions:
* If the contract is for three years or more.
* If there is a net increase in total headcount.
* The flat rate will be applicable for first two years of the contract.
Companies having operations in Spain or those planning to establish operations in the country are advised to carefully monitor progress of the above tax measures and take necessary action.
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Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand business and manage risk so they can focus on their core business and sustain growth with minimal risk, stress and cost. We support nearly 250 clients in over 70 countries. Nair & Co. is headquartered in Bristol, UK, has 450 employees and offices in China, India, Japan, Singapore, and the US. Learn more at www.nair-co.com
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