## [Tax Newsletter - December 2024 and January 2025](/en_GB/new/tax-newsletter-december-2024-and-january-2025) # Tax Newsletter - December 2024 and January 2025 Spain - 01 / 31 / 2025 - - [](https://www.linkedin.com/sharing/share-offsite/?url=https://www.garrigues.com/en_GB/new/tax-newsletter-december-2024-and-january-2025) - []() - []() [Download Newsletter ![Download](/sites/default/files/inline-images/flecha-abajo.png)](/sites/default/files/noticias/files/tax-newsletter-december-2024-january-2025.pdf) Previous Next ![](/sites/default/files/noticias/img/newsletter-tributario-enero-2025.jpg) **It is contrary to EU law for the refund of withholding tax to depend on the residence of dividend recipients** **if the recipient incurs losses** Biscay’s tax legislation allows recipients of dividends resident in Bizkaia who make a loss to automatically obtain the withholdings paid in Bizkaia on these dividends. However, a nonresident recipient is not entitled to this refund, unless it is allowed by a tax treaty. According to the CJEU, this legislation is contrary to the free movement of capital. **In the event of a collective layoff, a senior executive’s exempt severance will be that determined in the Workers' Statute** The Valencian High Court has confirmed that, if a senior manager’s relationship is terminated in the context of a collective layoff, his or her compensation will be exempt up to the amount established for this type of dismissal in the Workers' Statute (20 days per year of service, capped at 12 monthly payments). **The absence of a declaration of the main debtor's inability to pay in a proceeding for enforcement of secondary liability is a ground for nullity as of a matter of law, and therefore the activities performed cannot toll the statute of limitations** According to TEAC, the declaration of the main debtor’s inability to pay is an essential element of the proceeding for enforcement of secondary liability, therefore its absence renders the proceeding null and void (with the resulting effects on the statute of limitations, if applicable). **For the purposes of the international tax transparency regime, the exemption for dividends and capital gains should be treated as a full exemption** The DGT has confirmed that dividends from foreign holding companies will not have to be disclosed in Spain because their income (dividends and capital gains) is not taxed in the state of residence of those entities, given that, for these purposes, the Spanish exemption should be treated as a full exemption. **Suspension of the ground for dissolution based on losses caused by the DANA flash flooding** Following the repeal of the so-called "Omnibus Decree" (Royal Decree-Law 9/2024 of December 23, 2024), Royal Decree-Law 1/2025 of January 28, 2025 has been published, reinstating some of the measures affected by the repeal. Among others, the suspension of the ground for dissolution based on losses caused by the DANA flash flooding has been kept, although the accounting moratorium on the losses produced by COVID-19 has not been extended. For further details on this month’s judgments, decisions, resolutions and legislation, [**SEE THE WHOLE NEWSLETTER HERE**](https://www.garrigues.com/sites/default/files/noticias/files/tax-newsletter-december-2024-january-2025.pdf). 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