The Spanish Government has approved several tax measures which have come into force in 2023. The main measures regarding corporate income tax are summarised below:
This measure applies in addition to the already existing limitation to offset losses. In this regard, tax losses can be offset up to the higher amount between one million euros and a percentage of the taxable base which depends on the taxpayer’s turnover, i.e. turnover of less than 20 million euros: 70%, turnover between 20 million and 60 million euros: 50% and turnover of at least 60 million euros: 25%.
It must be noted that this measure has been introduced by the law known as “Startups Law”, which introduces measures not only regarding corporate income tax, but also rules that benefit the startups’ investors and employees. In this connection, (i) the stock option benefits for employees are better than the general ones, (ii) investors can benefit from a tax credit and (iii) the law has added flexibility to the inpatriate regime for individuals – amongst others, it allows “digital nomads” to apply the regime.
Read the WTS Global International Corporate Tax Newsletter here.
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