Tag: Spain
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Country by Country Regulatory Framework in Spain
Country by Country (CbC) reporting is a tax transparency requirement for large multinational groups, which must disclose financial and tax information broken down by jurisdiction. In Spain, the regulatory framework has been adapted to both OECD guidelines (BEPS Action 13) and European regulations, with some specific national features. 1. Reporting Obligation: Form 231 2. Transposition of…
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Country-by-Country Reporting (CbCR) in Spain
Spain has incorporated Country-by-Country Reporting (CbCR) requirements into its domestic tax legislation, in line with OECD/G20 BEPS Action 13. These rules aim to enhance transparency for tax administrations and ensure that profits are taxed where economic activities take place. This guide outlines the main aspects of CbCR regulation in Spain, including who is subject to…
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Create and Grow Law
The Crea y Crece Law is an important legislative reform approved in Spain in September 2022, aimed at promoting the creation and growth of businesses, particularly small and medium-sized enterprises (SMEs). Here are its main features: Main Objectives Key Measures Simplified Business Creation Combatting Payment Delays Reducing Administrative Barriers Boosting Alternative Financing Mandatory Electronic Invoicing Effective Date…
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Spain’s Anti-Fraud Law
Spain’s Anti-Fraud Law, officially known as Law 11/2021 on measures to prevent and combat tax fraud aims to: Changes to Cash Payments The law introduces new limits on cash payments: Billing Software Requirements One of the most significant aspects of the law is the regulation of billing software: Requirements for Billing Software Billing programs must…
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Immediate Supply of Information (SII)
The Immediate Supply of Information (Suministro Inmediato de Información – SII) is an electronic system developed by the Spanish Tax Agency (AEAT) for the digital management of Value Added Tax (VAT). This system allows businesses to fulfill their VAT-related tax obligations more efficiently and in real time. Key Features of the SII Objectives of the…
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Country-by-Country Reporting (CbCR) Regulation in the Canary Islands
The Canary Islands, an autonomous community of Spain with a unique fiscal regime, are subject to Spain’s national laws on tax matters while benefiting from specific incentives as part of their Economic and Fiscal Regime (REF). However, when it comes to international tax compliance, including Country-by-Country Reporting (CbCR), multinational enterprises (MNEs) operating in or through…
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Country-by-Country Reporting (CbCR) Regulation in Navarra
Navarra, an autonomous region in Spain with its own fiscal autonomy, implements international tax regulations in line with the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Action Plan, specifically Action 13, which focuses on Country-by-Country Reporting (CbCR). The CbCR regime requires large multinational enterprise (MNE) groups to disclose detailed…
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Country-by-Country Reporting (CbCR) Regulation in Araba
Araba, one of the three provinces in the Basque Country in Spain, has its own fiscal system, which operates under the local autonomy granted by Spanish law, while also adhering to international tax transparency standards such as the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. This regulation includes the Country-by-Country Reporting (CbCR) regime,…
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Country-by-Country Reporting (CbCR) Regulation in Gipuzkoa
Gipuzkoa, part of the Basque Country in Spain, operates its own independent tax system while adhering to international tax transparency standards, including those outlined by the OECD in BEPS (Base Erosion and Profit Shifting) Action 13. Country-by-Country Reporting (CbCR) is one of the key tools used to ensure that multinational enterprises (MNEs) report their income,…
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Country-by-Country Reporting (CbCR) Regulation in Bizkaia
Bizkaia, one of Spain’s historical territories within the Basque Country, has its own tax system distinct from the rest of Spain, although aligned with national and international regulations. The territory is committed to the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13, aimed at promoting transparency through Country-by-Country Reporting (CbCR) for multinational enterprise (MNE)…
CbC Reporting 