Title: Local Tax Attorney
1LOCAL TAX ATTORNEY
B A L M S A B O G A D O S
2About Us
Founded in 1989, Balms Abogados is a leading name
for the legal services. We take pride in
extending our expertise for every legal service.
You can also rely on us for a comprehensive
consulting service, managing all paperwork along
with accounting processes. We also have a
specialized section for foreign formalities,
handling documents, and other legal matters. We
believe in the philosophy of promoting training
and teamwork with the aim of achieving a higher
level of excellence. Our relationship with our
clients is built upon quality services and
mutual trust. Join hands with us today for our
dedication and expertise.
3Types of Business Entities And Their Tax
Implications
It would be difficult to find the tax
implications for a business without knowing its
business type. In general terms, a businessman is
considered to be the sole owner of his firm. But
it is not true. A business does not merely mean
someone owning it and making a profit. Rather a
business entity has wider meaning when it comes
to doing business in Spain. Understanding tax
implications for each business type requires
expert advice it is always a good idea to hire
a local tax attorney. Keep reading below to find
the types of business entities and their tax
implications.
4Types of Business Entities
Choosing a business type is an important
decision. It can affect the factory costs,
indirect expenses, and overall margin of a
business. Every country has its own set of
standards for forming a business entity under
some legal restrictions. Depending on the
ownership of a business, there are five major
types of business entities in Spain.
5Sole Proprietorship
Under a sole proprietorship, the business entity
and owner are considered to be the same. An
owner is liable for all the actions/debts of the
business. A sole proprietor is solely
responsible for all the profits and losses of the
business. Examples of a sole proprietorship are
freelance tutors, shop owners, and freelance
consultants. Corporate Form of Business A
corporate form of business organization is an
association of people who have been authorized
to conduct a business. By law, a company form of
business has its own separate legal entity. The
owners and the company are two different things.
In case of any dispute or liability, a company
is sued but not its owners. Each member of the
company has limited liability.
6ADDRESS C /. Generalife, 9. Aloha Pueblo29660
Marbella (España-Spain)
GET IN TOUCH
PHONE NUMBER 34 952 812 100
WEBSITE https//www.balms.es/en
EMAIL balms.marbella_at_balms.com