Directorate General for Taxes clarifies how shares listed on a regulated foreign market similar to the Spanish market have to be reported on Form 720. The resolution may have implications for wealth tax.
Corporate income tax.-Interest on participating loan not deductible if it actually implies a contribution to the borrower’s equity (legislation prior to 2015)
Personal income tax.- The employer has to substantiate that paid per diems relate to work-related travel
Nonresident income tax / investment funds.- Law laying down requirements for exemption on dividends to apply to investments funds does not constitute restriction on free movement of capital, unless it discriminates against nonresident funds
Tax on stock exchange transactions.- It is not a restriction on the freedom to provide services for the legislation on the tax on stock exchange transactions to establish differences depending on the residence of the professional intermediary.
Transfer and stamp tax.- UTEs are taxable persons for stamp tax
Transfer and stamp tax.- The transfer of shares in real estate developers or construction companies is exempt, even if their corporate purpose is broader (article 108 of the Securities Market Law in force until 2012)
Management procedure.- The tax authorities cannot systematically impose obstacles on the taxpayer for procedural reasons to avoid recognizing entitlement to a refund of incorrect payments