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Tag: Taxes

Being an Entrepreneur and a Business Angel will have fiscal benefits in Navarra (Spain)

Monday, October 18th, 2010

As released on the Spanish News Site Cotizalia, the Government of Navarra wants to incorporate certain fiscal benefits for entrepreneurs and business angels. New companies younger than five years, with a clear innovator scope, revenues less than €9 Million and have at least 15% of their total expenses dedicated to R+D, will not need to pay certain taxes. These include taxes on; economical activities, transmission of property, the 30% expense on company tax and in addition other fiscal postponements during the fiscal year.

This is the first time that a Spanish  autonomous region plans to provide such a fiscal reform that is already somewhat present in other countries’ legislations such as Germany, France, Belgium, Austria and Sweden.

In regards to the business angels that invest in start-ups, they will be able to reduce 20% of the investment from their personal income tax with a maximum of €4,000. The two prerequisites needed for this to happen is that the participation of the individual or his/her family doesn’t exceed 40% and that the exit happens at least after 3 years. It is also important that the business angel doesn’t cover any executive roles, although being on the board of directors is allowed.