2017 Changes to Spanish Taxation

As of 2017, multinational Companies must file country-by-country reports with Spanish Tax Authorities.

After Decree of December 3, big enterprises will be required to file additional tax information.

The regulations that entered into force on January 1 are: limitation to dividend and capital gains produced on share transmissions of non-resident shareholders; losses produced on share sales since January cannot be deducted; negative income from foreign permanent establishments cannot be deducted either; finally, decrease in the value of trading portfolios due to reasonable assessment are not deductible.

Furthermore, measures related to limitation of compensation for negative taxable bases and reversal impairments are kept, as indicated on the Decree measures that entered into force on January last year.