On 23 June 2014, draft bills modifying the most important Spanish tax laws were released. The Spanish Government released the second draft bill on 1 August 2014, which will now be discussed and voted on by the Spanish Parliament. It is intended that this new legislation comes into force in 2015. Accordance with legislation information on related party transactions must be declared on the corporate income tax return Form 200.
For each related party involved in transactions the taxpayer must list the name of the taxpayer or entity; the type of relationship; the country in which the related party is located; the type and characteristics of the transactions; the transfer pricing method used and the amount of the transactions. Inter-company transactions exceeding EUR 100,000 with each related party must be reported on the tax return.
