Tax Commentary 4-2016
Royal Decree-Law 3/2016. Tax measures aimed at the consolidation of public finances
On December 3, 2016 the Official State Gazette (BOE) published Royal Decree-Law 3/2016, of December 2, 2016 adopting measures in the tax field aimed at the consolidation of public finances and other urgent social security measures (“the Royal Decree-Law”).
According to its preamble, the objective of the Royal Decree-Law is to introduce into Spanish law a number of measures directed at reducing the government deficit and correcting imbalances in the Spanish economy, by furthering and completing those introduced by Royal Decree-Law 2/2016, of September 30, 2016, which, among other steps, amended the legal regime on corporate income tax prepayments.
Notable changes in the tax field are the amendments to the corporate income tax legislation, the hike in some excise and special taxes and a tightening of the requirements laid down to apply for the deferred payment of given tax debts. These tax measures are summarized below.
- 1. Corporate income Tax
- 2. Excise and special taxes
- 3. Tax procedure. Deferred or split payment of tax debts
- 4. Wealth Tax
- 5. Revision of cadastral values
- 6. Entry into force