The Supreme Court judgement of 23 October 2023 regarding deductions from previous years in the Corporate Income Tax establishes important precedents that will have a positive impact on taxpayers. In summary, the possibility of including in the base of the deduction for research, development and technological innovation (R&D+i) the expenses incurred in previous undeclared fiscal…
Author: Beltrán Sánchez. Director of Transfer Pricing. Bové Montero y Asociados New binding consultation with regard to the application of the exemption of Article 21 of the Corporate Income Tax Act. On 29 September 2021, a new binding consultation (V2265-21) has been published regarding the application of the exemption of Article 21…
New law on measures to prevent and combat tax fraud[1] The recently published Anti-fraud Act transposes the European Union (EU) law on tax avoidance practices and, in addition, introduces changes designed to establish the parameters for tax justice, and to facilitate actions aimed at preventing and combating fraud by strengthening tax…
The Spanish General Budget Act for 2021 has introduced several tax changes that aim to increase tax revenues. The national regulation was passed at the last minute, having been published on 30 December 2020 to be applied with immediate effect from 1 January 2021. Some of the main tax measures are: Personal Income…
Tax revenue loss on Corporate Income Tax returns AUTHOR: Susana Arroyo. Tax Manager at Bové Montero y Asociados Corporate Income Tax (CIT) revenue for the current year shows a loss of around 2.3 billion euro, mainly due to refunds to be paid out to taxpayers. The substantial drop in the ability of CIT…
Tax bias in dividends of multinational companies AUTHOR: Belén Fernández. Partner at Bové Monteros y Asociados Eliminating the full exemption on dividends received by holding companies is a measure with a purely tax-raising purpose and no technical or fiscal reasonableness. The General State Budget for 2021 on which the Government is working is…
RDL 19/2020: main commercial and tax changes At Bové Montero y Asociados we summarise and analyse the main tax and commercial changes adopted in Royal Decree-law 19/2020, of 26 May 2020. These include changes to: Deadlines for preparing and approving annual accounts Filing annual accounts with the Commercial Register Deferring tax liabilities Filing…
