On 4 November 2021, the Spanish lower chamber passed the budget for 2022 which provides for a minimum corporate tax rate of 15% of the tax base for certain taxpayers from 2022. It applies to companies with a net turnover of at least 20 million euros or to companies that have opted for tax consolidation regardless of their turnover. For start-ups that benefit from the reduced rate of 15%, this minimum rate will be reduced to 10%. The minimum rate will be 18% for credit institutions and for companies operated in exploration, research, and exploitation of hydrocarbon deposits and underground storage facilities, whose general rate is 30%.
Tax Treaty News: November 2021
»
Related Posts
Spain: MOF issues Order on e-invoicing software systems
The Spanish Ministry of Finance(MOF) has released an Order HAC7/1177/2024 of 17 October 2024 concerning computerised billing systems for entrepreneurs and professionals on 28 October 2024. The publication of this Ministerial Order marks the
Read MoreSpain to abolish energy sector windfall tax while extending tax on banks
The Spanish government is reportedly set to finalise an agreement that will terminate the windfall tax on the energy sector and extend the windfall tax on the banking sector. Earlier, the Spanish government has issued the “Law 38/2022” which
Read MorePeru, Spain to resume tax treaty talks next year
Peru and Spain will resume income tax treaty negotiations in March 2025, as announced by Luis Ibérico, Peruvian ambassador to Spain. during an event on 15 October 2024. An income tax treaty was signed in 2006, but it was never
Read MoreParaguay, Spain income tax treaty enters into force
The income tax treaty between Paraguay and Spain took effect on 14 October 2024. This agreement aims to enhance economic relations, encourage investments, and enhance bilateral cooperation in tax matters between the two countries. It seeks to
Read MoreEuropean Commission refers Spain, Cyprus, Poland, Portugal to court for failing to transpose Pillar Two Minimum Taxation Directive
The European Commission (EC) decided to refer Spain, Cyprus, Poland, and Portugal to the Court of Justice of the European Union for failing to notify measures for the transposition into national law of Council Directive (EU) 2022/2523 of
Read MoreSpain consults crypto-asset reporting framework
The Spanish Ministry of Finance and Public Administration has initiated a public consultation on a draft bill to implement EU Directive 2023/2226 (DAC8), which which integrates the OECD’s crypto-asset reporting framework (CARF) into the regulatory
Read More