Tax Newsletter - September 2018
Spain -
Tax authorities cannot deny offset of a tax asset if its correctness has been recognized in a firm judgment
The Supreme Court has confirmed that, after the correctness of a tax asset has been examined and confirmed, the tax authorities are not allowed to question its use in a later year, on the basis of the substantive res judicata principle on which the court provided an interesting analysis.
Judgments
- Nonresident income tax.- Inbound expatriates taxed on principal residence
- Tax on increase in urban land value.- Judicial review courts contradict Supreme Court
- Penalty procedure.- Penalties not allowed on a company for infringements committed on its behalf but without its knowledge
Decisions
- Audit procedure.- After maximum period for completion of audit work has run, subsequent referral of the case to public prosecutor’s office does not toll the statute of limitations
- Tax on retail sales of hydrocarbons.- Entities acting as intermediaries between taxable person and end customer are not authorized to apply for a tax refund
Ruling requests
- Corporate income tax.- Limits on offset of net operating losses under current Corporate Income Tax Law apply to transactions before its entry into force
- Personal income tax.- Rule on recurrence in preceding five years does not apply to clearly multiyear salary income
- Personal income tax.- Special valuation rules for income in kind do not apply to income from economic activities
- Nonresident income tax.- If authorities of another state do not issue a tax residence certificate, other means of proof are allowed
Legislation of interest
- Union Customs Code has been amended
- New prepayment and corporate income tax return forms and new country by country reporting form
- Canary Islands introduces SII (immediate supply of information) system in relation to Canary Islands general indirect tax
- Approval given to Protocol amending Belgium-Spain tax treaty
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