The leader of the PNV, Iñigo Urkullu, came to meet him. Both had only one intention: to show that they can speak with their worst enemies because that is democratic. Both, at the end of the meeting was confirmed by making clear that it has broken the ice in their relations but maintain the cold war, the political distance that separates them, and that the PP will continue to support Lopez as Lendakari PNV and the PSOE to statutory power shift in the General State Budget (PGE) for the year. This was it. So much so that Urkullu, the first to address reporters waiting to see if the meeting was starting a new stage in which PP and PNV agreed to take José Luis Rodríguez Zapatero, as made clear from the first minute.

This, he said, is only a first contact to make clear that we can speak honestly, without deception, and in order to reach specific agreements, mainly in the Parliament, something that has occurred in recent weeks, although, to force a defeat of the PSOE in Congress.

The two leaders agreed yesterday stressed that nothing, not even in the face to Debate State of the Nation next week. It was, as made clear Rajoy, to mend relations between the two parties formal, broken since the PP supported Lopez as Lendakari Basque regional elections after Esukadi. Rajoy was who defined it as well as darkly: “This is a process of relationship Stará necessarily guided by the need to improve the current situation”, it is assumed that in Spain.

Although, according to those interviewed have been discussed many issues like the economy, Spain’s image in international markets, labor reform, the new Law on Savings Banks, the Debate of the State of the Nation and the energy pact, no reach any concrete agreement because, as we defined them, have not “entered into future drawings.” Moreover, Urkullu made it clear he would not support any motion of censure against Zapatero, which, incidentally, Rajoy does not want to raise.

Beyond the debate opened by the expectation of a more lax regime for intra-group transactions, the 2009 campaign of Companies is marked by the prominence of SMEs and large affected in the shifting waters of the crisis, and therefore, as the main Receiving balm normative and doctrinal adjustments made by Treasury to improve earlier legislation that had stopped on his feet tangled fringes of some companies.

Objective: To avoid layoffs

Two major changes impacting on the current campaign, amortization free and reduced rates for micro-SMEs, agree on the objective to facilitate the preservation of templates.

Freedom of depreciation affects both new items of property, investment property and learned from last year, including acquisitions obtained through leasing, and to increase its capacity to play, outside tables, with the rate of deductibility . For companies with fewer than 25 employees and 5 million euros in turnover, this flexibility is coupled with a five-point cut in the tax rate, which is 20% for first 120 200 euros in turnover and 25 % for the rest.

In both cases the standard requires comparing the evolution of the template with the average of the previous twelve months. Hold time employment is two years for a payback for free and discounted rates. Treasury also allows, in cases of groups of entities, a global computing when recruitment is done from a management company of the group.

Reverse, Half

With permission from the tax for the rich, to date, the prospect of a change in the regime of related party transactions has proven to be the real snake fiscal 2010. After a first amendment to the scheme documentation and sanctioning Zurbano incorporated into the decree, and a second which is expected to take effect in less than a week, SMEs that fail to document related operations have penalties reduced, and if those involved do not exceed the set € 100,000 are exempt from document. Furthermore, it is likely that not all companies have to document linked conducted with the same person or entity that does not exceed 250,000 euros.

Are reductions in the requirements of the Treasury to the companies and their advisers still considered insufficient. In any case, these thresholds are not only important in relation to any inspections, but will affect the same statement. The model 200 requires companies to connect only those linked to exceed € 100,000 individually and in general, need to be documented. Therefore, those companies which are beyond the justification of the market value of its operations as a result of legal and regulatory changes, will also prevent the relationship of such operations in the declaration form.

These policy changes impacting on the current income tax campaign adds another collective affecting lower-case taxpayers of maintaining the deductions related to leasing contracts although the deadline be extended and lower fees.

New print

The declaration of this year is also influenced by changes in interpretation of the tax law, in many cases due to the need to polish the enormous angles created by the entry into force of the new accounting system.

For the agenda of urgency, it should be noted about changes relating to deductibility of goodwill (see V1770 DGT-08), returns for non-payment of goods and sold (V1332-09), remove from contest entities (see 1 Boicac 76) and impairment of shares available for sale (see 6 Boicac 74).

Off the field, accounting, taxation stresses on the criterion of not applying the special tax regime for SMEs to companies who rent properties without an employee and a specific location for it (V0150-10). On a positive for companies, and also in terms of the lease, the Treasury can now apply the local rule and person for cases in which personnel management is concentrated in one company of a group (V0237-10).

Already in the field of international taxation, taxation has agreed that companies can deduct losses from deterioration of the entire chain of holdings, regardless of whether any of them is not resident (V0369-10).

However, growing restrictions on companies who want to escape the thin capitalization rule. According to the Central Economic Administrative Court (resolution of 10.06.1909), this rule that forces the taxation of interests as dividends paid to a non-resident in the European Union when the debt exceeds three times the capital of the debt, also should apply to transactions with companies in the EU, behind them emerges in turn a loan from a community matrix.

In the coming years, the EU must choose between “having poorest pensioners” and “increased contributions to the pension system or have more people to work more for longer”, although the European Commissioner ideally “launch plans for long-term adjustment “based on current trends in the aging population and labor market participation, instead of” emergency measures “as” push to increase the retirement age. ”

Andor opted for increasing the participation of older people in the labor market or, what is the same, increasing the effective retirement age rather than legal. However, said the report from the Commission prefers a longer working life. ” The document notes that, to keep the dependency ratio in 2010 in the EU-the number of people of working age in proportion to the number of people above the average retirement-age, that age should be increased to 70 years 2060.

This hypothesis is based on population projections made with 2008 data by Eurostat, the EU statistical office. The number of retirees in the EU compared to the number of workers to finance their pensions “will bow in 2060″ so that the current situation “is not sustainable,” said Andor.

The commissioner also expressed his opposition to the “temptation to implement early retirement” you can have companies with financial difficulties. “It is a wrong solution,” said Andor, who suggested other measures such as “to promote lifelong learning” for workers to enhance their performance and ensure greater permanence in the labor market.

The document invites the social partners to submit their views on public consultation until 15 November. The European Commission will take into account the views collected to develop “guidelines and recommendations” for the pension reform, said Andor.

Zapatero justified the speed of this reform is “fundamental, urgent and necessary.” To that, according to some financial circles surveyed by BUSINESS, would add the qualifier “more ambitious” than was necessary for the sector: developing a few tools (participation’s) in order to increase the capital of the boxes.

This qualification meets Zapatero’s announcement that it has elected prevent the organs of government savings banks, a request from the sector but that seemed to have parked in this reform in order to achieve the necessary consensus on what is More fundamentally, creating formulas that can be capitalized thrifts.

But even the regulation of participation’s with political rights, which the issue would be limited to 50% of the assets of banks rose yesterday as the Prime Minister not convinced by all sectors involved.

However, its decline will be slow and the unemployment rate in its 31 member countries will still exceed 8% by the end of next year, and Counting what if the inactive and those who want to work part-time work and want to do full time, that percentage would almost double. Duality in the protection between permanent and temporary employment has aggravated unemployment during the crisis, so a balance between security and other contracts is one way to achieve economic recovery also allows for the labor market, OECD stressed.

“The rebalancing employment protection should be part of a comprehensive set of measures that involve adequate unemployment benefits, strict availability demands for employment and well-designed activation measures,” said the organization. With this “rebalancing”, “temporary jobs would better the role of a springboard to permanent jobs instead of representing a trap for workers,” he said. He acknowledged that would also mean that workers with permanent contracts would be forced to “greater job mobility” with the possible loss of their earnings from two jobs, hence the need for a system of unemployment compensation “enough.”

This conclusion derives from the finding that temporary workers have been most affected by job losses during the recent recession, and among these were many young people. Furthermore, “the beneficial effect of partial unemployment has been limited to permanent contracts, which has expanded and the gap with temporary workers and part-time.” The organization said, without naming names, that “in several countries’ structural reforms of labor market should be an integral part of an overall strategy to promote the creation of more jobs and more productive.”

About unemployment benefits, said that they find “difficult balance” because in countries where the duration was short and limited coverage for workers with atypical employment must be kept “in the early stages of recovery until the mass of Long-term unemployment begins to decline significantly. ” But at the same time, we must be vigilant that such measures are accompanied by “a close monitoring of job search efforts to avoid benefit dependency.” The OECD acknowledged that the short-time public devices “have contributed greatly” to save jobs during the crisis, although they have been translated especially in working-time reductions, especially in countries like Japan, Germany, Austria and Slovakia.

The OECD secretary general Angel Gurria called the other hand, “a more general support” to the labor reform that is being processed in Spain because “it has also to the markets” and “the risks are important.” “We would like to see a more united Spain” on this labor reform “with a more general support, because that account also for the markets,” Gurria said at a press conference to present the annual report Employment Outlook of the Organization for Cooperation and Development (OECD). He recalled that his organization had long recommended changes in the Spanish labor market and stressed that it is “difficult decisions.”

In the press conference following the meeting of the Governing Council of the ECB, Trichet held that interest rates are appropriate at the current level of 1% and made clear that the recent rise in interbank interest rates should not be interpreted as an intention of the entity to modify its monetary policy. “We welcome the decision announced by the European Council published, with the consent of the banks involved, individual results of endurance test for EU banks conducted by the Committee of European Banking Supervisors (CEBS) in cooperation with the ECB, “said Trichet.

He added that a healthy balance sheet, an effective risk management and business models are robust and transparent essential to strengthen the resilience of banks to impacts and to ensure adequate access to finance. Previously, the Governing Council decided to maintain its funds rate at 1 percent, a historically low level since May of last year, Trichet called “appropriate.”

The euro appreciated against the dollar, up $ 1.27, after these statements by the head of the ECB. The monetary policy committee of the Bank of England also left its rate unchanged at 0.5% lead. Trichet also asked commercial banks to provide credits to businesses and homes when demand increases.

A group of IMF experts, led by Spanish financial advisor José Viñals and Frenchman Olivier Blanchard, Economic Counsellor, met in Hong Kong, in a nod to Asia, to publicize the update of forecasts of global growth and the analysis of the financial system since the region is currently leading the recovery. According to the agency, emerging and developing economies (Asia and Latin America) will grow this year half a percentage point more than expected. That takes the cake is Brazil, the IMF forecast growth increased by 1.6 percentage points to 7.1% this year.

China will exceed 10% during the current year and India will stay in the making of the two figures. The IMF envisions a two-speed recovery, with rich countries moving at a “modest” and the fast emerging markets. Asia, followed by Latin America, leading the global recovery. The big question hanging over the global recovery, according to the Washington-based institution, is Europe, and specifically European sovereign debt.

Viñals stressed the need to restore confidence and stability to markets, without smothering the recovery. According to the expert, a specific measure such as the publication of test solvency of banks in Europe is an important step but insufficient if not announced at the same time “measures to be taken for those banks that do not pass the test (so each time there is a problem also has a ready solution), as was done in America. ” Other Settings excessive risks facing the world, according to the IMF, are a reduction in demand due to fiscal adjustment plans “too deep or poorly designed” and the worsening U.S. housing sector, not yet recovered.

The IMF maintained its growth forecast of 1% in the euro area this year, but reduced it by two tenths in 2011 to 1.3%. For Spain left unchanged its estimate for this year and three tenths reduced its growth forecast for 2011 to 0.6%, United Kingdom led despite the forecast downwards in 2011, an increase of 2.1% (four tenths below the April forecast.)

Why? Because of the need to convince the ever-suspicious-ment, on the other hand, tax inspectorate that the activity of the company was real, that can be attributed specific revenue and that, therefore, is wrong to some depreciation as tax deductible.

It’s just an extreme example of legal uncertainty they say suffer the advisory firms and their clients to the increasing application of the tax rule interpretation, a problem which clearly has a direct impact on corporate income tax declaration.

Then there is the attempt by the Agency to obtain increased information in advance in a process, ironic offices, which will end up becoming a self-inspection declaration exercised by the taxpayer.

The director of the Register of Tax Advisers Economists (REAF), Luis del Amo, emphasizes in this regard, how the statement is negative adjustments and deductions, resulting in “increasingly cumbersome” (see BUSINESS July 7).

Similarly, and without getting to the conflict created by the first application of new accounting (Daily 10/07/2009), offices complain about the custom, they say, has assumed the Treasury to make any last minute changes before of the declaration. The example this year is clear to start the campaign without the security of how it will be aa regulations on related party transactions.

Accounting Case

But the tax also should be presented, logically should do his best not to mess up. For Del Amo, the bulk of the recommendations in this regard should focus on proper implementation of new accounting rules.

For example, while in cases of real estate sales promoters generally should not impute income to the creation of writing, for the construction of the accounting principle that substantial transfer of risk is not general, and yes it is to implement income as the work is done.

The proper pairing between the closing accounting and taxation is essential in view of the statement of Societies-case of depreciation, see graph below, as well as carry out a suitable check of the entire panel of deductions. For SMEs, in addition, is key to analyze staffing levels and turnover, for the purposes of applying incentives such as reduced rates or free depreciation for job creation.