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SOCIMI: Script Dividend not valid for meeting dividend distribution obligation when shareholders are PIT or NRIT taxpayers without permanent establishment
In a recent resolution, the General Directorate of Taxes (DGT) confirms that script dividends are only valid for fulfilling the dividend distribution obligation in the special regime of Listed Companies for Investment in the Real Estate Market (SOCIMI) when they generate income for the shareholder. This means that this mechanism is not valid for meeting […]
Lawyers’ Professional Secrecy in recent CJEU Jurisprudence
The CJEU has concluded that the reporting obligations established in the DAC are invalid insofar as they affect lawyers’ professional secrecy, as this guarantees the right to privacy and respect for clients’ private lives. However, it clarifies that the exemption from these obligations does not extend to tax advisors who are not lawyers. The Court […]
The Supreme Court definitively resolves which regulation governs the deduction for new fixed assets in the Canary Islands
The Supreme Court has concluded that the regulation governing the deduction for new fixed assets in the Canary Islands is Article 26 of the 1978 Corporate Income Tax Law and not, contrary to what the tax administration and majority jurisprudence have been defending, the 12th Additional Provision of the 1995 Tax Law. The Law 61/1978, […]
Supreme Court: The tax verification of statute-barred fiscal years cannot disregard the principle of full regularization
The Spanish Supreme Court has concluded that when the Tax Administration verifies credits generated in prescribed fiscal years, it must do so in accordance with the principle of complete regularization. This means that if it rejects the deductibility of certain expenses, it must also eliminate the taxation of income linked to them. The Court also […]
Real Estate leasing is an economic activity even when management is outsourced, according to the Directorate General of Taxes
According to the most recent criterion of the Directorate General of Taxes (DGT), real estate leasing can be classified as an economic activity for Corporate Income Tax purposes when managed by specialized experts who have been subcontracted, even if there is not a full-time employee exclusively dedicated to its management, as literally required by law. […]
Minimum 15% Global Tax: new steps on the most relevant tax measure of recent years for large Groups of Companies
Minimum 15% Global Tax: new steps on the most relevant tax measure of recent years for large Groups of Companies Among other provisions, the Bill contemplates a very strict penalty regime, establishing fixed fines of 10,000 euros for each data point or set of data that should have been included in the declaration (in cases […]