Spain: Council of Ministers approves the amendment of several tax regulations

09 January, 2018

On 29 December 2019, the Council of Ministers approved a Royal Decree-Law to extend and approve various tax measures and other urgent measures on social issues, which provides for the coefficients to update cadastral values for 2018. The Decree modified the regulations on three direct taxes: the Regulation on Personal Income Tax (Spanish acronym: IRPF), the Regulation on Corporate Income Tax and the Regulation on Inheritance and Gift Tax.

The new legislation also maintains the limits that establish the method of objective Personal Income Tax estimates for 2018, as well as the objectives estimates for the Simplified Special Regime and the Special Regime for Agriculture, Livestock and Fisheries for VAT.

The regulations amended to accommodate companies submitting a CbC report report in accordance with EU Directive 2016/881. The process for converting deferred tax credits into tax credits is incorporated into the regulations.

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