EYEY

Spanish tax authorities deem a series of consecutive intra-group share transfers as abusive and potentially subject to penalties in binding report

|Tax Alerts, Legislation & Policy, Na ...|United States, Spain
United States, Spain

  • During a tax audit procedure, the Spanish tax authorities (STA) challenged the application of the United States (US)-Spain Tax Treaty exemption on capital gains derived from the transfer of shares in a Spanish subsidiary.

  • The challenge was based on the application of the General Anti-Abuse Rule (GAAR), on the grounds that the overall transaction, consisting in a series of consecutive intra-group sh…

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