Beckham Law for directors: causality, tax reviews and documentary evidence
The special tax regime applicable to workers relocated to Spain, commonly known as the Beckham Law, is regulated in Article 93 of the Spanish Personal
In the Resolution of 16 January 2024, the Directorate General for Legal Security and Public Faith (DGSJFP) considered that the management body cannot agree by a mere resolution to grant indistinct power of attorney to any of the joint directors to represent the company in the execution of a deed of sale of a property.
The joint administration, unlike the board of directors, is not a collegiate body, but is made up of a plurality of individuals. Therefore, the joint directors cannot certify the powers of attorney that are granted between them by means of resolution but must be in the form of a public deed granting power of attorney.
In this case, according to the bylaws of the selling company, the power of representation of the company had to be exercised jointly by the two joint directors, in accordance with articles 233.2.c) of the Capital Companies Act and 124 of the Companies Register Regulations.
Consequently, the DGSJFP ratified the refusal to register a deed of sale and purchase of a property, establishing that powers of attorney that exceed the company representation of the joint directors must be notarized in a public deed and not in a mere private document such as the certificate of the company’s minutes, even though the signatures of the latter are notarized.
The special tax regime applicable to workers relocated to Spain, commonly known as the Beckham Law, is regulated in Article 93 of the Spanish Personal
In an M&A transaction, the SPA usually concentrates a significant part of the negotiation. However, especially in small-market transactions, the real balance of the deal
The transposition in Spain of Council Directive (EU) 2022/2523 of 15 December 2022, on ensuring a global minimum level of taxation for multinational enterprise groups