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Implementation of the new Spanish Budget Law Bill in 2011

Implementation of the new Spanish Budget Law Bill in 2011
10 Jan 2011

On 30 September 2010, the Spanish Government presented the General State Budget Law Bill for 2011 to the Parliament. According to the Ministry of Economy and Finance, this Bill seeks to reinforce the transformation of the Spanish economic growth model, prioritising investment in R&D, education and infrastructures. Furthermore, the tax consolidation process shall be moved forward to ensure the sustainability of public finances in the medium term. Taxand Spain identifies the main tax changes proposed in the Spanish Budget Law Bill.

 

Taxand's Take


The Spanish Government's proposed changes to the taxation on personal income, non-resident income, corporate income and legal and late payment interest rates are expected to be approved in the end with the support of other political groups (the Spanish Government does not have an absolute majority in the Lower House of the Spanish Parliament).

Click here to read the full article from Taxand Spain

Your Taxand contacts for further queries are:
Vicente Bootello
T. +34 91 514 5200
E. Vicente.bootello@garrigues.com

?lvaro de la Cueva
T. +34 91 514 5200
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The full article was first published in the November/December issue of Taxand's Take and in BNA Tax Planning International Tax Review December 2010.

Taxand's Take Author