OrbitaxTreaty between Spain and Mexico – Spanish Tax Administration clarifies scope of withholding tax applicable to transfer of immovable property located in Spain
|Treaty Development|Spain-Mexico
In a tax ruling dated on 8 January 2009, the Spanish General Directorate of Taxes ruled that there is no obligation for a Spanish company to withhold any tax when buying shares of another company, whose main assets are immovable property located in Spain, from that company's shareholder that is resident in Mexico.
According to the Non-residents Income Tax law (NITL), a 3% wi…
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