Expected changes to the Spanish Corporate Tax 2019

The agreement considers that sufficient public taxes are needed to maintain a robust social State that guarantees equal opportunities and social cohesion.

The Spanish government has recently reached a General State Budget Agreement for 2019, with one of the groups from the opposition, that contains significant tax measures, although still pending approval. The Agreement considers that sufficient public taxes are needed to maintain a robust social State that guarantees equal opportunities and social cohesion. Likewise, it qualifies taxation as a powerful influence of encouragement for the economic agents that favour changes that orient towards a more just, inclusive and sustainable economic growth.


These measures encompass traditional tax such as that of Corporate and Personal income tax or VAT and include new tax figures such as the Tax on Financial Transactions and the Tax on Certain Digital Services, in accordance with the recommendations of the main international organizations.



Although there is still a way to go before these measures come into force, it is worth knowing their guidelines beforehand, which we summarise in the Corporation Tax area.


  • A minimum rate of 15% is created, so that effective taxation is not reduced by the use of deductions and tax reliefs. This measure affects solely the groups that are taxed under a fiscal consolidation regime and companies that are not part of groups but whose net amount of turnover is equal to or greater than 20 million euros. This minimum tax will be 18% for the banks and exploitation entities of hydrocarbons whose general rate of 30% is higher than the ordinary rate of 25%.


  • The exemption on foreign dividends and capital gains, currently of 100%, will be reduced by 5%.


  • Companies that invoice less than one million euro will see the nominal rate of the Corporate Tax reduced from 25% to 23%.


  • The Tax Agency and not the CNMV will be competent to declare, for tax-only purposes, the non-compliance with the requirements established for the SICAV in the financial regulations and from which the tax regulations make the application of the special Corporation tax regime of 1% dependent. The Agreement foresees that additional requirements will be established for the application by the SICAV of the reduced tax rate aimed at ensuring its character as a collective investment instrument, establishing a limit of concentration of capital in a single investor, objectifying the collective nature of this vehicle.


  • In line with the measure promoted by 10 EU countries, a tax rate of 15% is expected to be applied to the profits not distributed by the Listed Public Investment Companies in the Real Estate Market (SOCIMI), which currently enjoy a tax of 0% on the income obtained in the exercise of its main business of rental of real estate


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