Spain: New levies on energy and on credit institutions and new solidarity tax on large fortunes have been created
Spain Tax Commentary
Moreover, a temporary limit is placed in the corporate income tax regime for tax groups on the group's use of tax losses generated by its entities in the taxable period, and significant new legislation is introduced on the tax credit for investments in productions of films, series and live shows. Lastly, an important amendment has been made to the wealth tax legislation under which nonresident taxable persons will have to be liable for tax in Spain on the ownership of shares in entities with real estate assets in Spain.
On December 28, 2022, the Official State Gazette (BOE) published Law 38/2022 of December 27, 2022 for the establishment of temporary levies on energy and on credit institutions and credit financial establishments, and which introduces the temporary solidarity tax on large fortunes, in addition to amending certain tax laws. The key contents of this law are summarized here.
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