The Directorate General of Taxes (hereinafter, “DGT“) modifies its perspective regarding the application of the tax neutrality regime in corporate restructurings. It now holds that the regularization of tax advantages pursued will only be allowed when it is conclusively demonstrated that the operation had as its main purpose tax fraud or tax evasion, and is… Continue reading Tax neutrality regime. A change of criteria regarding the requirements for its application.
Category: Insights
Tax advisor: The imposition of abusive agreements from a criminal perspective
Abuse of the majority in the adoption of agreements is punishable both from a civil or commercial perspective, when these exceed the normal limits of the exercise of the rights, causing damage to third parties (art. 7.2 of the Civil Code) and from a criminal perspective (art. 291 of the Criminal Code). Throughout this article… Continue reading Tax advisor: The imposition of abusive agreements from a criminal perspective
Tax advisor: Foreign Securities Holding Entities (ETVE): Considerations about the application of the ETVE regime
ETVEs are efficient corporate vehicles for investments abroad. These entities benefit from a special tax regime that significantly reduces the tax burden on foreign profits, which makes these vehicles highly attractive to international investors. However, the application of the special tax regime requires the fulfilment of several requirements. In the following, we will discuss the… Continue reading Tax advisor: Foreign Securities Holding Entities (ETVE): Considerations about the application of the ETVE regime
Commercial advisor: Keys to the creation of the Central Registry of UBO
On September 19, 2023, Royal Decree 609/2023 will enter into force, creating the Central Registry of UBO (“RCTR“) and approving its regulations. The purpose of this article is to determine the keys to the creation of the RCTR and the consequences for the different obligated parties. Legal Context: Last July 11, Royal Decree 609/2023 of… Continue reading Commercial advisor: Keys to the creation of the Central Registry of UBO
General Meeting of Shareholders: Power to dismiss the corporate director
The Resolution of the Provincial Court of Barcelona, dated January 10, 2023, case number 6/2023 (ECLI:ES:APB:2023:212), analyzed the approval of a social action for liability directed at the directors appointed by the minority group. The Barcelona Court concluded that the challenged social agreement constituted an abuse, as its main objective was not so much to… Continue reading General Meeting of Shareholders: Power to dismiss the corporate director
Tax advisor: Change of criteria in the Spanish impatriate regime: employment income resulting from the shares granted to employees but generated prior to the transfer to Spanish territory is not subject to taxation in Spain
The General Directorate of Taxes, in its recent binding consultation V0813-23, dated April 5, 2023, sets forth a new criteria for taxpayers under the impatriate regime, with respect to the taxation of long-term remuneration programs granted before moving to Spanish territory (Share Incentive Plans, Performance Shares¸ Stock Options, etc.). In the following, we will summarize… Continue reading Tax advisor: Change of criteria in the Spanish impatriate regime: employment income resulting from the shares granted to employees but generated prior to the transfer to Spanish territory is not subject to taxation in Spain
Structural Modifications Law: Summary of the Royal Decree-law 5/2023
Royal Decree-Law 5/2023, dated June 28, will enter into force on July 29, 2023. This decree transposes the Mobility Directive and completely revokes Law 3/2009 on Structural Modifications of Companies. In the following, we will summarize the general aspects and the main changes introduced by this law. The new Structural Modifications Law The need to… Continue reading Structural Modifications Law: Summary of the Royal Decree-law 5/2023
Tax advisor: The contribution of the shareholders to the 118 Account of the General Accounting Plan: Recommended from a tax perspective?
The 118 Account is a useful accounting instrument for companies that need to solve financial or treasury problems when financing specific projects. However, it is common that shareholders choose this form of financing without understanding the true nature of this business. The purpose of this article is to clear up any doubts that may arise… Continue reading Tax advisor: The contribution of the shareholders to the 118 Account of the General Accounting Plan: Recommended from a tax perspective?
Commercial advisor: The contribution of the shareholders to the 118 Account of the General Accounting Plan: A flexible form of financing?
The 118 Account is a useful accounting instrument for companies that need to solve financial or treasury problems when financing specific projects. However, it is common that shareholders choose this form of financing without understanding the true nature of this business. The purpose of this article is to clear up any doubts that may arise… Continue reading Commercial advisor: The contribution of the shareholders to the 118 Account of the General Accounting Plan: A flexible form of financing?
