The following regulations were published in the Official State Gazette on 30th December 2017:
1.- Royal Decree 1074/2017 amending the Personal Income Tax Regulation, the Corporate Income Tax Regulation and the Inheritance and Gift Tax Regulation.
2.- Royal Decree 1075/2017 amending the Value Added Tax Regulation.
The amendments approved by these Decrees shall apply to the financial years starting from 1st January 2018 and include the following main amendments:
A.- CORPORATE INCOME TAX
(a) Wider information and documentation on linked organisations and transactions is requested, and also on the obligation to provide information “ country by country” according to OECD criteria.
(b) The cases not affected by the obligation to withhold taxes are extended:
B.- VALUE ADDED TAX
Amendments to the immediate supply of information (ISI), including the following new tax issues:
C.- PERSONAL INCOME TAX
1. Work tax-exempt income for company canteen expenses
The daily amount exempt of the indirect canteen service provision formulas, as food vouchers or similar documents, cards or any other electronic means of payment given to the employee to fulfil this need, is increased.
The daily amount exempt is increased from 9 euros to 11 euros a day.
2. Study and training grants for researchers
The amounts exempt for grants are increased in the following cases:
As a result of the consideration of capital gains of the conveyance of pre-emptive rights as of 30th December 2017, the withholdings to be made are regulated:
4. Amendment of self-assessments
A new way of presenting a request to amend a self-assessment is introduced to solve a mistake that would have jeopardised the taxpayer using the tax return form itself.
D.- INHERITANCE AND GIFT TAX
Two changes are approved that affect the return and management of the Tax: obligation to include the land registry (town hall) data on transferred property in the tax return. Furthermore, the possibility of proving the fulfilment of the obligations with regard to this tax by way of a certificate issued by the Inland Revenue is foreseen.