Finacining in times of COVID-19 From Monday 6 April 2020, businesses can access the new financing facility guaranteed by the ICO (Instituto de Crédito Oficial). This measure activates the first 20-billion-euro tranche of the 100-billion-euro “Guarantee Line”, which the government has approved to deal with the lack of liquidity caused by COVID-19.   How…

  Royal Decree-law 112020_COVID19_ENG Royal Decree-law 11/2020, of 1 April 2020, sets out a new series of social measures aimed at supporting workers, consumers, families and vulnerable groups, as well as steps to support businesses and the self-employed. We highlight and summarise the following implications for labour law: – Moratorium on Social Security contributions –…

  March 18 saw the publication in the Official State Gazette of Royal Decree-law 8/2020, of March 17, on urgent measures to tackle the economic and social effects of COVID-19, which is effective from the date of publication. We summarise the most relevant Tax measures of this Royal Decree-Law. Granting of powers for Customs clearance: The…

  March 18 saw the publication in the Official State Gazette of Royal Decree-law 8/2020, of March 17, on urgent measures to tackle the economic and social effects of COVID-19, which is effective from the date of publication. We summarise the most relevant Commercial measures affecting legal entities governed by private law of this Royal…

  Royal Decree-law 82020_COVID19_ENG March 18 saw the publication in the Official State Gazette of Royal Decree-law 8/2020, of March 17, on urgent measures to tackle the economic and social effects of COVID-19, which is effective from the date of publication. We summarise the most relevant measures of this Royal Decree-Law affecting the following areas:…

We take a detailed look at the latest updates affecting labour law, published in Royal Decree-law 8/2020, of March 17, on extraordinary urgent measures to tackle the economic and social effects of COVID-19:   Preferential nature of remote working. Organisational systems should be established to enable continued activity by alternative mechanisms, particularly by means of…

Last 14th March saw the publication of urgent tax measures to tackle the economic impact of COVID-19 in the Official State Gazette (link).   Specifically, the possibility of deferring tax payments has been granted to taxpayers (person or entity) whose turnover was under EUR 6.010.121,05 in 2019.   This deferral will be applicable to withholdings…

    5 February 2020 saw the publication, a little later than scheduled, of Royal Decree-law 3/2020, which transposes various EU Directives and Regulations onto Spanish legislation. Included among these are the VAT “Quick Fixes”, which we analysed in a tax update in October 2019. These changes will come into force on 1 March 2020….

    The Spanish Tax Agency has recently launched a special plan to check on taxpayers who repeatedly record tax losses on their Corporate Income Tax returns, which can be carried forward and offset in subsequent periods. The move was revealed in the 2020 General Tax Control Plan, which was recently published and notably includes…

    The Supreme Administrative Court of Sweden recently lodged a request for a preliminary ruling with the Court of Justice of the European Union (CJEU), on whether a branch and its principal establishment (that is, its headquarters in another jurisdiction), where the latter is part of a VAT group, are considered independent parties for…