Spain is planning to cut income taxes in 2015 considering significant changes to its corporate taxes as the economy gradually recovers. A gradually improving economy and an expected fall in unemployment allow the government to bring income tax rates back to the level they were before last year’s increase. The government will also try to hinder the opportunities for tax avoidance. No changes to value added tax are expected.
«
Previous post
South Africa: Technical Tax Proposals for 2014 Budget
South Africa: Technical Tax Proposals for 2014 Budget
Related Posts
Spain consults draft global minimum tax bill
December 11, 2024
Spain's General Directorate of Taxes has launched a public consultation on draft regulations designed to implement a complementary tax ensuring a global minimum tax for multinational enterprises (MNEs) and large domestic groups on 3 December
Read More
Spain introduces new VAT regime for groups of companies
December 10, 2024
Spain's tax authorities have introduced a new special VAT regime for groups of companies (REGE), effective from 2025. Companies must use form 039 to notify their election to apply or waive the REGE for VAT purposes, the advanced REGE arrangement,
Read More
Spain: Parliament extends windfall tax on banks, reintroduces loss restrictions
November 26, 2024
The Spanish lower house of parliament (Congress of Deputies) approved a new fiscal package that includes a three-year extension of the windfall tax on banks on 21 November 2024. The tax, previously set at a flat rate of 4.8%, will now follow a
Read More Spain: Lower house of parliament passes global minimum tax bill
November 25, 2024
The Spanish lower house of parliament (Congress of Deputies) passed the draft bill on 21 November 2024, for implementing the Pillar 2 global minimum tax in line with Council Directive (EU) 2022/2523 of 14 December 2022. The bill now awaits
Read More Spain: MOF issues Order on e-invoicing software systems
November 05, 2024
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 More Spain to abolish energy sector windfall tax while extending tax on banks
November 04, 2024
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 More