Spain: There is no consensus among the authorities over how transfers of renewable energy projects under development are taxed
A recent decision by the Navarra provincial tax authorities allows the exemption to be applied to the capital gain on the transfer of shares, which contrasts with the restrictive interpretation given by the Directorate General for Taxes.The Supreme Court rules that Spanish tax legislation discriminates against nonresident hedge funds in Spain
According to the Court, nonresident hedge funds should be treated like residents if they prove that they are open-ended entities, that they have the relevant authorization, and that they are managed by an authorized management company pursuant to the terms of Directive 2011/61/EU.