ACCOUNTANT,TAX ADVISER AND LAWYER IN MARBELLA INFORMING ON THE

SINGLE EURO PAYMENTS

Arcos & Lamers Asociados, your accountant, tax adviser and lawyer in Marbella would
like to explain the basic of SEPA and answer some of the most freuently asked
uestions! "ou mi#ht have heard the word SEPA lately as its has been mentioned on
several $% pro#rams and &ewspapers, but, do you understand what it is and the
conseuences of its introduction in the Spanish &ational $erritory'!
What is SEPA?
SEPA ( Sin#le Euro Payment Area, is an initiative that enables individuals, companies
and other economical operators to conduct their domestic or international payments in
Euros under the same basic conditions, ri#hts and obli#ations, re#ardless where they
are!
Which Countries are included?

SEPA will include the )* members of the European community, +sland, Liechtenstein,
Monaco, &orway and Swit,erland!
$his pro-ect will allow users of all the .. countries to have a sin#le set of standards and
rules for their bank transfers, direct debits & cards makin# it simple, safe and effective
for all users!
When will this project be fully in place?
All national payments /transfer or debits0 should be fully replaced with the new system
by the 1
st
of 2ebruary )314! 2rom that day on all the payments will use the SEPA
instruments!
SEPA Bank Account
All accounts will be identified with5
International Bank Account Number IBAN! 6 identifies the account of each
user!
Business Identifier Code BIC! 6 identifies the institution where the account is
held!
"bli#ation to pro$ide de BIC
2or the national area will not be necessary to provide the same from the 1
st
of 2ebruary
)314! 7efore that date it mi#ht be reuired in specific cases! +n case of cross6border
transactions, it stop bein# enforceable fro the 1
st
of 2ebruary )318!
%o I need to &ake any a&end&ents to &y bank account?
9hen the account already allows you to make and receive transfers and:or national
debits you do not need to make any chan#es! +n fact, those accounts should already be
prepared for the new tools implanted by SEPA!
;o not hesitate to contact one of the professionals of Arcos ' (a&ers Asociados,
your lawyer, accountant and tax advisor in Marbella, for all your le#al and tax advise
you may need in Spain<!
Sara ;uarte, accountant in Marbella