Spain: Public consultation on Pillar Two global minimum tax
The public consultation period runs from 6 March 2023 to 24 March 2023.
The public consultation period runs from 6 March 2023 to 24 March 2023.
The Ministry of Finance launched a public consultation on the transposition into Spanish law of EU Directive 2022/2523 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the EU.
The public consultation period runs from 6 March 2023 to 24 March 2023.
The public consultation has been opened prior to the drafting of a proposal for the transposing law—to seek the opinion of stakeholders who may be affected by the future legislation—and marks the beginning of the regulatory work necessary to comply with the requirement to transpose the directive into domestic law by 31 December 2023.
According to the Pillar Two directive, the relevant transposing legislation must be in force by 31 December 2023 so that it may be applied to tax periods commencing as of that date, with the exception of the undertaxed profit rule (UTPR) which, in practice, is expected to apply to tax periods starting as of 1 January 2025.
Read a March 2023 report [PDF 122 KB] prepared by the KPMG member firm in Spain
For further information, contact a KPMG professional in Spain:
Julio César García | juliocesargarcia@kpmg.es
Pelayo Ora | poraa@kpmg.es
Jose Antonio Tortosa | jtortosa@kpmg.es
Clara Guasch | cguasch@kpmg.es