15 June, 2016

Are you well prepared for the next Spanish Corporation tax season? II

As informed in a previous post, the Spanish Corporation tax compliance season for companies having a fiscal year coinciding with the calendar year is about to start soon. This season will be the first one including the new tax measures approved by the 2015 Spanish tax reform.

Do you know which is the tax treatment of interest deriving from profit sharing loans granted by group companies or of public relations expenses incurred by your company? Which are the particular problems relating to late payment interest from tax audits or to chief executives remuneration that, in turn, are directors of your company? Do not miss the opportunity of discovering it.

From 2015, the Spanish Corporate income tax list of non – deductible expenses has been extended, including the following ones:


  • Expenses incurred with tax – related entities that, because of a different tax treatment, do not generate income, or if they generate income, it is a tax – exempt income or subject to a nominal tax lower than 10%. This measure is aimed at limiting hybrid instruments, in which one of the intervening entities can enjoy a tax – deductible expense whereas the other intervening entity does not have any taxable income.


  • Expenses deriving from actions contrary to Law, due to the non – compliance of a specific rule and independently from any penalty that may be imposed due to such action. We have recently witnessed the particular discussions related to late payment interest deriving from tax assessments. While the General Directorate of Taxes qualifies such interest as tax deductible, the Spanish Courts depending from the Ministry of Finance as well as the Spanish Tax Agency disallow such deduction on the basis that it is not a necessary expense to obtain the benefits from being granted finance or to obtain income. It is to be expected that, in view of this many opinions, the Spanish Tax Agency may start reviewing taxpayers that have deducted such interest in application of the General Directorate of Taxes criterion. In such case, however, the taxpayer should be able to argue that it has made a reasonable interpretation of the laws against any eventual penalty imposed by the Spanish Tax Agency.


  • Expenses corresponding to interest deriving from profit sharing loans granted by companies of the same group, but, attention, only as from June 20, 2014.


  • Expenses deriving from gifts to customers / suppliers exceeding 1% of the net turnover of your company in a fiscal year.

Last but not least, we would like to remark what we think is a positive change, according to which it seems that the legislator tries to guarantee the tax deduction of the remuneration of chief executives that, in turn, are Directors, by excluding the chief executives remuneration from the qualification of grants and donations.

We remind you that, although Spanish Corporate income tax is based on the accounting result, it is strongly advisable to know which expenses are disallowed by Spanish tax rules, in order to accurately comply with them.


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We are also part of Englobally Group, an international association of independent accounting and advisory firms that provide a one-stop shop managed solution for accounting, payroll and HR needs, with member firms in over 25 countries and associates working in many others. Many fast growing technology and lifescience businesses find their international services invaluable. Companies in many other sectors are attracted by the close and supportive way Englobally Group works.




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