Spain: Partial amendments of general tax law
Spain has published the official Gazette regarding partial amendments of general tax law which was amended on 22 September, 2015 as a Law no.34/2015. The Law will enter into force on 12 October 2015 except for the obligation to keep specific
See MoreCanada and Spain: Protocol to DTA will enter into force
The amending protocol of the Income and Capital Tax Treaty (DTA; 1976) between Canada and Spain will enter into force on 12th December 2015 and it was signed on 18th November 2014. The effective date for withholding taxes on amounts paid or credited
See MoreDouble tax treaty signed between Spain and Qatar
A double tax treaty between Spain and Qatar was signed on September 10, 2015. Spanish Finance Minister Cristobal Montoro and his Qatari counterpart Ali Sharif Al Emadi signed the agreement on behalf of their respective countries. The treaty is in
See MoreSpain: IMF recommends increasing indirect tax to boost the economy
The IMF has recommended that Spain should expand the indirect tax burden to accelerate the economy and reduce debt. The areas of recommendation set out in the report include increasing excise duties and environmental levies as well as gradually
See MoreSpain: IMF conference call considers tax policy issues
On 14 August 2015 the International Monetary Fund (IMF) published the transcript of a conference call held to clarify issues arising from the discussions with Spain under Article IV of the IMF’s articles of agreement. As Spain’s public debt is
See MoreSpain: IMF comments on fiscal and tax policy
A selected issues paper published by the IMF on 14 August 2015 covers among other matters the challenge of coordination between national and regional levels of government in relation to fiscal consolidation. As significant taxing powers have been
See MoreSpain: BEPS country by country reporting provisions enacted
The Spanish Ministry of Finance published Royal Decree 634/2015 of 10 July 2015 in the Official Gazette on 11 July, 2015. The Decree contains corporate income tax regulations including (BEPS) country by country reporting requirements in line
See MoreSpain: Council of Ministers approves Spain-Andorra income tax treaty
The Spanish Council of Ministers approved the the Andorra-Spain Income Tax Treaty (2015) on 30 April 2015. The treaty was signed on 8 January
See MoreSpain: Government approves special tax regime for the Canary Islands
The Spanish Government has approved the agreement with the European Union (EU) Commission for the new Spanish special tax regime for the Canary Islands (Zona Especial Canaria, or ZEC ), which entered into force on January 1, 2015. The regime is
See MoreSpain: Parliament approves draft law amending the General Tax Law
The Spanish Parliament approved the submission to Parliament of the draft law amending the General Tax Law (LGT) on 17 April 2015, following the opinion of the State Council. The key objectives of the reform of the Tax Code are to enhance the fight
See MoreDTA between Nigeria and Spain enters into force
The Income and Capital Tax Treaty between Nigeria and Spain will enter into force on 5th June
See MoreSpain: Council of Ministers approved protocol to treaty with Canada
The Spanish Council of Ministers approved the protocol amending the income and capital tax treaty with Canada on 13 March, 2015. The protocol was signed on 18 November,
See MoreSpain: Publishes draft Corporate Income Tax Regulations
The Spanish Ministry of Finance released a draft regulation on Corporate Income Tax on March 18, 2015. Included in the regulations are some transfer pricing changes that are summarized below; Country-by-country reporting: A group of
See MoreSpain: Council of Ministers approves second chance mechanisms
The Council of Ministers has approved on 28 February, 2015 the “Royal Decree Law on second chance mechanisms and the reduction in the financial burden, and other measures of a social order”. The Royal Decree includes several measures on
See MoreSpain: Cabinet Approves The Tax Treaty With Oman
The Cabinet has approved, on 27 February 2015, the signing "ad referendum" of the Convention between the Kingdom of Spain and the Sultanate of Oman to avoid double taxation and prevention of fiscal evasion with respect to taxes on income and
See MoreSpain: Treaty Details With Andorra
A double tax treaty was signed between Spain and Andorra on 8 January 2015. The treaty generally follows the provisions of the OECD Model Tax Convention. Under the treaty the withholding tax rate on dividends is 15% in general and 5% if the
See MoreSpain: Amendment of Social Security Contribution Rules
Spain amended the social security contribution rules through the Ministerial Order ESS/86/2015 of 30 January 2015. The Order implements the social security contribution rules established in the Budget Law for 2015, including unemployment, protection
See MoreSpain: Modifies the transfer pricing legislation
In the “Corporate Income Tax Reform 2015” enacted under the Law 27/2014 the following transfer pricing rules are amended; Scope of related-party transactions - The ownership requirement for related parties is increased from 5% (1% in the
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