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…
