Much has been discussed lately about the legality or lack thereof of exercising economic activity through a company as opposed to channeling the same sort of activities through a partner of the latter, as well as the changes made in the Tax Authorities’ criteria. Nevertheless, this is not an issue that is new or that has undergone significant modifications in the recent past years, it is simply a litigious issue that has not yet been resolved.
The Spanish economy is still undergoing intense and differential economic growth regarding the euro area. In addition, it is progressing with a more solid basis than previous periods of growth. However, the scenario we consider for the Spanish economy is now subject to upside risks, both inside and outside Spain.
Spanish Regional Governments are clearly benefiting from the intense economic growth of the national economy. However, there has been a very important increase in the regional debt over the last years. In this context, the Extraordinary Liquidity Mechanisms (ELM) have gained great importance in the share they represent of the regional debt. We now expect the return of the regions to the markets to finance their debts and the improvement of their debt-to-GDP ratio.
The latest shock for our profession and clients arises from a sentence of the Supreme Court dated February 26, 2018, regarding the compliance in determining the executive directors' salary conditions.
Cryptocurrencies are receiving great attention since on 2008 the first one called Bitcoin came out . But it is the underlying called blockchain technology, which has been promising authentic revolutions in different fields for some time. And the most interesting thing about this technology is that it represents much more than an effective method of securing monetary transactions with cryptocurrencies. Sectors such as logistics, food, insurance, legal area and even information management in the public sector are using it.