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Tax Newsletter - July 2019

Spain - 

A complete tax adjustment needs to cover statute-barred years also

Madrid High Court argues that a complete tax adjustment requires the tax authorities to include statute-barred years also, to avoid double taxation.

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Judgments

  • Corporate income tax.- Meaning of “final loss” defined for offsetting losses generated by the subsidiaries of other member states
  • Corporate income tax.- A waiver of preemptive subscription rights for no consideration entails the obtaining of income
  • Personal income tax.- A taxpayer may prove full use of the vehicle in their economic activities
  • Taxes on advertising and other sectoral taxes.- The establishment of a progressive system does not amount to prohibited state aid
  • Administrative procedure.- Liability for taking part in the concealment of assets to prevent the payment of tax debts only exists where the unlawful acts took place after the debts arose
  • Collection procedure.- Applications for a stay and deferred payment of tax debts are compatible

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Decisions

  • Administrative procedure.- TEAC continues adding flexibility to the definition of “tax option”
  • Audit procedure.-  The taxpayer’s own appraisal is not an option when the comparable uncontrolled price method is used
  • Review procedure.- AEAT cannot introduce new arguments in appeals brought against regional economic-administrative tribunals’ decisions
  • Enforcement procedure.- If a stay is not requested, late-payment interest accrues in respect of the length of time taken over and above a year to settle the claims

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Resolution requests

  • Corporate income tax.- An exemption is not claimable for transfers of holding companies even if operating companies take part
  • Corporate income tax.- Professional services provided free of charge by a shareholder to a company in non-statute barred years are shareholder contributions
  • Corporate income tax.- Clarification of various issues regarding the tax credit for hiring disabled workers
  • Corporate income tax.- Nondeductible VAT is a deductible expense for corporate income tax purposes
  • Personal income tax.- Subsistence expenses are deductible from income from economic activities
  • Personal income tax.- The tax credit for international double taxation cannot be claimed until the return has been filed in the other country
  • Nonresident income tax.- The sale of bitcoins is taxed in Spain if the company providing the storage service is located in Spain
  • Transfer and stamp tax.- Clarification as to who the taxable person is for the purposes of stamp tax on mortgage loans after the recent amendments 

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Legislation

  • Amendment of a number of rules on keeping personal income tax records
  • Publication of the annual equivalent rate for the third calendar quarter of 2019, for the purpose of characterizing certain financial assets for tax purposes

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Miscellaneous

  • The Ministry of Finance has published various exchanges of letters and agreements in relation to a few tax treaties signed by Spain
  • AEAT publishes the draft legislative instruments to transpose the tax intermediaries directive (DAC 6)

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