LOFCA: Funding and Financial Autonomy of Spanish Regions
LOFCA: Financial Autonomy of Spanish Regions
The LOFCA (Organic Law on the Financing of the Autonomous Communities) establishes basic principles that broadly coincide with the EC (Spanish Constitution), to which is added:
- Principle of Stability: The state guarantees economic balance by taking measures to achieve economic stability, internal and external budgetary stability, and harmonious development between the various parts of Spanish territory.
- Principle of Sufficiency: The regions should have adequate
Corporate Tax, VAT, and Personal Income Tax: Key Exemptions
Corporate Tax (CT) Exemptions
In Corporate Tax (CT), exemptions can be categorized as either objective or subjective.
Objective Exemptions
Objective exemptions are granted for specific types of income and are aimed at eliminating double taxation or providing tax benefits. These exemptions are scattered throughout the articles of the Corporate Income Tax Law (LIS).
Subjective Exemptions
Subjective exemptions are granted based on the special characteristics of certain entities contributing to the CT. They
Read MoreMaritime Zones: Territorial Sea, Contiguous Zone, and High Seas
Maritime Zones: Key Concepts
Territorial Sea: Extends 12 nautical miles measured from the baseline (outer limit is a line every point of which is 12 nautical miles away from the nearest point of the baseline). The normal baseline is the low-water line along the coast as marked on large-scale charts officially recognized by the coastal State.
Maritime Delimitation Cases
- Guinea/Guinea-Bissau Maritime Delimitation Case (1988): In 1960, France and Portugal concluded an Agreement defining the maritime boundary
Understanding the State: Definition, Functions, and Necessity
What is the State?
The State is a political organization with sovereign power over a defined territory. This power is exercised through various administrations, and the State holds a monopoly on the legitimate use of force and violence.
Key Characteristics of the State
- Territorial Power: The State’s authority extends to the entirety of the territory within its borders. Every individual and organization operating within these borders is subject to the State’s rules.
- Sovereignty: At the state level,
Public Domain Assets: Management and Legal Framework
Patrimonial Theory of Public Domain
The patrimonial theory of public domain property is the title that justifies the powers of the Administration on the goods that are part of the public domain.
Proudhon’s Theory of Public Domain
For this author, the public domain came directly from the public domain of sovereignty and property, the holder being the general public.
Functionalist Theory of Public Domain (Pillar-PalasÃ)
For the functionalist theory, the purpose of the existence of the public domain is
Read MoreCommercial and Tax Law for Businesses in Spain
Commercial Law
Commercial law regulates the economic activity of enterprises. It addresses issues such as entrepreneurship, legal and accounting matters, advertising, and consumer protection. The core of commercial law is the Commercial Code, which governs trade, commercial contracts, and accounting obligations of firms. However, the code doesn’t cover all aspects of commercial law, leading to the existence of special laws, including:
- Regulations of the Commercial Register
- Patent and Trademark Laws
- General