Tributario
Spanish Supreme Court confirms National Appellate Court’s principle: offsetting tax losses is not a tax option
In a judgment delivered on November 30, 2021, the Supreme Court examines whether it is allowed to offset tax losses on a corporate income tax self-assessment filed outside the time limit and concludes that it is. Moreover, according to a judgment on October 29, 2021 by the National Appellate Court, if this gives rise to an incorrect payment, the incorrectly paid tax must be refunded with late-payment interest calculated from when that payment was made (including prepayments).Cadaster approves first provisions on calculating “reference value” and clarifies a few doubts
Over recent weeks, several provisions, resolutions and reports have been published on the reference value in property transfers, following the entry into force of Law 11/2021, of July 9, 2021, known as the Anti-Fraud Law (see our comment of July 10).Software projects give entitlement to tax credit for technological innovation
The National Appellate Court has endorsed including software in the definition of “production processes” even if it is developed in non-manufacturing sectors; and criticized denial of entitlement to the credit for software projects on the basis of technical reports from the Spanish finance authority containing legal assessments.Spain: New Anti-Fraud Law published
The law, which came into effect the day after its publication, includes important changes to a number of taxes. They include making sweeping amendments to the international fiscal transparency rules, replacing “tax haven” with “non-cooperative jurisdiction” and setting a 15% special levy on undistributed income under the “SOCIMI” regime. It also makes considerable amendments to the General Taxation Law, and changes the rules on the valuation of properties for the purposes of various taxes.