Tax

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  • Spain: The limitation on the offsetting of tax losses and the use of double taxation credits for large companies is again reduced and other tax modifications are introduced

    Among others, a tax is created on the margin of interest and commissions of certain financial institutions, the savings tax rate is increased in the Personal Income Tax for taxable income over EUR 300,000 and an exemption is introduced for Personal income tax and  Inheritance and Gift tax purposes in relation to  donations made by employers to their employees to alleviate the damage caused by the DANA. In addition, the cases in which the reserve for investments in the Canary Islands can be used are extended.

  • The cases in which the Reserve for Investments in the Canary Islands can be used are extended

    In particular, the reserve may be used for investment in the renovation of social housing.

  • Pillar 2 in Spain: Global Minimum Tax for large groups approved

    We review its main characteristics and remind you of the aspects to which you should pay special attention.

  • Portugal Indirect Taxes Newsletter - N.º 2

    This edition covers key indirect tax developments in Portugal in the last months, especially regarding the postponing, from 2024 to 2025, of the extraordinary use of PDF invoices as electronic invoices and the Stamp Duty framework of financial operations carried out between branches and their headquarters.

  • Reflections on expert evidence in tax proceedings

    In recent rulings related to the deduction for R&D&i in Corporate Income Tax and for Hydrocarbon Tax, the Supreme Court offers important reflections on the value of expert evidence in tax proceedings and on the value of reports issued by officials of the Tax Administration itself.

  • The Supreme Court of Spain delimits the binding scope of the reasoned report for the R&D&I deduction

    The Supreme Court has confirmed that the reasoned reports are binding on the tax administration both in the classification of the activity and in the quantification of the basis for the deduction for tax years started before 2015. However, the issue is still open to discussion for deductions generated after that date, as pointed out in a recent ruling by the TEAC.

  • Madrid approves an investment deduction for non-residents who become IRPF taxpayers in this autonomous community

    The deduction will amount to 20% of the acquisition value of certain assets and will require the maintenance of the investment and residence for several years.

  • Tax Newsletter - October 2024

    A comprehensive compilation of the main new developments in tax matters in Spain.

  • First State and Autonomous Community tax measures to support those affected by the DANA (and others that could be considered)

    The State and Autonomous Community governments affected by the DANA that occurred between 28 October and 4 November 2024 have approved various tax measures aimed at alleviating the economic costs and formal obligations of those affected in these first months. We review the main measures already approved and propose others that could be considered.

  • Update of the monetary devaluation coefficients for 2024

    The monetary devaluation coefficients applicable to assets and rights disposed of in 2024 have been published for the calculation of corresponding capital gains.