Sports & Entertainment Commentary 2-2014


The tax reform: key changes in the field of sport

On June 20, 2014, the Cabinet of Ministers approved four preliminary bills which propose a root-and-branch reform of several taxes.

These are preliminary bills, so they are subject to public consultation periods and, subsequently, to the relevant passage through parliament, where it is foreseeable that changes will be introduced into the current texts, which will have to be taken with the necessary caveats. However, there are already several proposed amendments that are affected by what is known as the “announcement effect”, meaning that, if the reforms in question are finally approved, they will take effect in relation to taxable events that predate their entry into force.

Focusing on sports-related matters, we take a look here at certain measures that are adopted in the preliminary bill amending Personal Income Tax Law 35/2006, of November 28, 2006, and that affect the personal income tax treatment of sportspersons.

We also take a look at the amendment introduced by the Preliminary Bill for the Corporate Income Tax Law in relation to the tax regime applicable to events of exceptional public interest.


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