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Tax Newsletter - April 2020 | Judgments
An expense (or lower amount of income) arising from a rent reduction is deductible for corporate income tax purposes
Stalled economic activity as a result of the health crisis is prompting renegotiations of commercial lease agreements due to force majeure, and reductions or deferrals are similarly being negotiated for many other contracts or activities. Here is…
Tax Newsletter - April 2020
COVID-19: Morocco extends the public health emergency through July 10th
Decree n° 2.20.406, published in the Official Gazette on June 9th, has extended the public health emergency through July 10th.
Patxi Arrasate joins the Garrigues Tax Department in Bilbao as a partner
He specializes in transfer pricing, transactions and reorganizations.
Spanish Supreme Court: Tax treaties cannot be interpreted from later model conventions and their commentaries if there are material differences between them
In a recent judgment delivered on March 3, 2020 (cassation appeal 5448/2018), the Supreme Court ruled on the limits of the interpretation of tax treaties in light of later versions of model conventions (and their commentaries) published by the…
COVID-19 Special Newsletter - Spain | June 1 to June 14
Preparation of financial statements and corporate income tax, recommencement of time periods, remote trials, gradual return to workplaces, insolvency proceedings and compliance with criminal law
DGT confirms that the VAT on agreed discounts may only be avoided if rent prices are renegotiated before they are payable
As we reported in our commentary dated April 11, 2020 (read here), in the current health crisis commercial lease agreements…
COVID-19: Real estate tax (IBI) and tax on economic activities (IAE) reductions in Madrid
Madrid City Council plenary meeting approved on May 29, 2020 an amendment to the local tax laws on real estate tax and the tax on economic activities, to provide new reductions to both.
COVID-19: New measures changing the time period for preparation and approval of financial statements and their tax consequences
Royal Decree-Law 19/2020 states that the three-month time period for preparing financial statements and other documents required by law will start to run from June 1, 2020, and reduces the time period for approving financial statements to two…
COVID-19: Morocco extends the public health emergency through June 10th
Decree n°2-20-371, published in the Official Gazette on May 19th, has extended the public health emergency through June 10th.
Shield 4.0 as the last part of the economic protection system during a pandemic
On May 20, 2020, the Polish government adopted the fourth and final package of anti-crisis solutions known as "Shield 4.0".