An overview by Garrigues
In the second of two newsletters, our Spanish firm, Garrigues, discusses key tax developments to look out for in 2023, including:
(i) The application of new temporary levies on credit institutions, credit financial
establishments and energy entities. Credit institutions with revenue of more than 800 million euros or those that are supervised by the European Central Bank will have to pay 4.8% of their profit margin on interest and commissions in the preceding year.
(ii) The Temporary Solidarity Tax on Large Fortunes. This tax will be paid
by taxpayers with net assets of more than 3 million euros (at rates between 1.7% and 3.5%).
(iii) The establishment of the use of losses in tax groups for corporate income tax purposes.
Read more here.
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