Business and Financial Needs

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The Convention to avoid double taxation between Spain and France formed, provides that subject to the provisions of paragraph 2 of Article 19 (relating to job performance pensions to the state or public entities), pensions and other compensation similar paid to a resident of a Contracting State in respect of past employment shall be taxable only in that State, ie the residence. Therefore, these rents, which are considered personal income tax as employment income should be declared only in Spain, according to the rules established in Law 40/1998, which regulates the personal income tax

The Dutch consumer is cautious. This is evident not only from the increase in savings, but also figures from consumtive credits. The figures do not lie and show that there are up to 12% borrowed less. This 12% is good for a total amount of 972 million euros.

Of course, these declining numbers, the providers of credit does not benefit. But where exactly are the hits? This is particularly the finance companies and mail order companies.

Finance companies saw their revenues for auto loans with 310 million euros decline. The loans for the purchase of furniture and electrical appliances showed a decline of 243 million euros to see. Mail order companies showed a decline of 33% from the number of loans they provide.

So we can state with certainty that Dutch consumers have become reluctant to close loans and loans by the current economic crisis. As a result, it mainly cuts on consumer durables. This explains, inter alia, the decline in auto loans.

According to Wim Assen Bergh, economist at Van Lanschot, banks are more cautious because they have their own capital to strengthen its position because there are blows to come. So are the expectations that a lot of business and consumer loans will never be met because, as a result of the economic crisis, no longer able to meet their commitments. To cope financially, banks are already building a buffer, this is one of the reasons why the market is still fairly locked.

The above also applies to the mortgage, but that this interest remains in the Euribor rate has several causes. For example, the mortgages financed by savings. The interest on savings was given last year to unprecedented highs, this is one of the reasons that the mortgage rate is also higher. Although the savings rate is now declining, it remains the mortgage maintained, this is because many mortgages are closed with a fixed rate period.

That lenders apply stricter requirements on lending we knew for a long time, but that this credo is mainly applied to small and medium businesses is something new.

This is partly reflected by the monitor of the research funding EIM. The funding monitor reveals a big gap in the rate credit will be allocated by sector and size of the company. Thus the request for a loan for major companies in 63% of applications submitted, this compared with 47% of small businesses (with fewer than 10 employees).

Also, the sector to make at this time, most credit applications approved in the manufacturing sector, this gets a 71% credit allocation. While retailers and companies active in construction this figure is almost reversed. In just over half the cases, a loan application is not accepted in the retail and construction industries even 61% of cases.