General Budget Law for 2018 introduces important tax measures

Personal income tax measures include an increase in the reduction for salary income available to taxpayers on low incomes, an increase in tax credits for maternity and for large families, or the new credit for family units with tax residents in EU member states or EEA countries, among others. In relation to corporate tax, the patent box regime has been changed to bring the rules into line with the agreement adopted in the EU or in the OECD (in particular, the contents of the report on BEPS action 5).

Among this year’s measures there is also the government’s plan to lay before the Spanish parliament within three months after approval of the Budget Law, a bill on a new tax on certain digital services, based on the proposal for a digital services tax, submitted by the European Commission in March.

Another of star measure this year has been to bring down VAT on movie tickets from 21% to 10%.

Here is a detailed summary of the main new tax legislation in the General State Budget Law for 2018.