28 September, 2015

New measures in the Draft 2016 Budget Law

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The Spanish Congress has recently approved the draft 2016 Budget Law.

It is expected that, by mid October, and before the dissolution of the Parliament because of the forthcoming general elections, the definitive text is approved.

Despite the contents of this Law are limited constitutionally, as it cannot create new taxes but it can modify them (providing another law foresees it), the following tax measures should be noted, as they affect matters that have been subject to constant changes.

Patent box: a new calculation method

As of July 01, 2016, the method to calculate this tax relief is modified to adapt it to the new EU and OECD agreements. The 60% reduction on the net income generated because of the grant or transfer of certain intangible assets is applied on the prorate between the expenses incurred by the legal entity in the asset creation in relation to the total expenses deriving from such asset:

Numerator = expenses directly related to the creation of the asset (including subcontracted). These expenses are increased by 30%, with the limit of the amount of the denominator.

Denominator = the same expenses of the Numerator and of the asset acquisition.

A transitory system is established for the grant of intangibles done prior to July 01, 2016, allowing the taxpayer to elect applying the original system. Such election must be exercised in the 2016 tax return.

Net worth tax again

This tax is, once again, temporarily restored.

We remind you that Net worth tax was eliminated as of Jan. 01, 2008. However, the regulations were not abolished at that time, but a 100% tax relief was approved (together with the elimination of formal requirements such as filing the tax return).

With the aim of contributing to the consolidation of public finances, the 100% tax relief will be re-established as of Jan. 01, 2017.


Legal interest rate is reduced to 3% and late payment interest to 3.75%.


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