Spain: draft bill for tax measures
On 23 October 2018, the Spanish government released three draft bills to implement some of the tax measures proposed in the 2019 budget.
The bills would introduce new taxes on digital services and financial transactions, as well as measures to amend the domestic exit tax and controlled foreign company (CFC) rules to transpose the EU Anti-Tax Avoidance Directive (ATAD 1) into domestic law. The bills on the tax on digital services and the tax on financial transactions would enter into force once a three-month period has elapsed from the date the relevant law approved by parliament is published in Spain’s official gazette. The measures transposing ATAD 1 are expected to apply to fiscal years starting on or after 1 January 2019.