Publications

Updates General State Budget Law 1-2012

07/03/2012
Commentaries

The General State Budget Law for 2012 was published in the Official State Gazette on June 30, 2012 (Law 2/2012, of June 29, 2012). We summarize below the main new changes contained in that law, in particular those made in the areas of tax, labor, social security, and administrative law.

1. TAX MEASURES
1.1 Corporate income tax
1.2 Personal income tax
1.3 Nonresident income tax
1.4 Value added tax
1.5 Other matters

2. LABOR LAW AND SOCIAL SECURITY MEASURES
2.1 Social security
2.2 Other labor-related provisions
2.3 Provisions concerning public sector personnel

3. ADMINISTRATIVE LAW MEASURES
3.1 Economic and financial support in specific industries
3.2 Control of the public sector
3.3 Legislative amendments
3.4 Toll motorway concession holders

4. OTHER MATTERS
4.1 Maximum limit for government guarantees
4.2 Public Multi-Purpose Income Indicator
4.3 Legal interest rate for money and late-payment interest
4.4 Entry into force

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