EYEY

Spain reintroduces and extends limitations on use of tax losses and foreign tax credits, after prior implementation was ruled unconstitutional

|Tax Alerts, Information Reporting, Legis ...|Spain
Spain

  • Legislation recently passed in Spain is intended to overcome procedural inadequacies of a prior implementation ruled unconstitutional.
  • The new law introduces limitations on the amount of tax losses and foreign tax credits that can be used in each tax period.
  • A temporary limitation that caps the amount of standalone current-year losses that are contributed to the tax group's taxable income, initially…

Continue Reading