On 24 December 2022, Spain released “Law31/2022” in the official gazette, including some tax measures for the 2023 national budget.
The tax rate for micro-enterprises whose net turnover in the immediately preceding tax period is less than EUR 1 million has been reduced from 25% to 23%. The reduced tax rate applies to tax years beginning on or after 1 January 2023. The revenue shall be determined in accordance with articles 101.2 and 101.3 of CIT Law of 27 November 2014. The reduced rate (23%) does not apply to the asset-holding companies referred to in article 5.2 of the CIT law.
Apart from that, 15% rate continues to apply to eligible newly created companies. This reduced tax rate will apply to the first tax period in which the tax base of companies with start-up status is positive and the three following tax periods provided that they continue to be considered as start-ups.
