New Securities Market Law and Investment Services
On March 9th 2023, the Congress approved the new Securities Market and Investment Services Law (pending publication in the Boletín Oficial del Estado), which repeals Royal Legislative Decree 4/2015, of 23 October, approving the Consolidated Text of the Securities Market Law. With this regulation, the Spanish securities market aims to adapt, among other issues, to […]
Preliminary Draft Law on Structural Modifications
Following the extraordinary session of March 10, 2023 held by the Economic and Social Council of Spain, in which the Preliminary Draft Law on Structural Modifications of commercial companies transposing Directive (EU) 2019/2121 of the Parliament and of the Council of 27 November 2019 was introduced, amending Directive (EU) 2017/1132 regarding cross-border transformations, mergers and […]
New features of Royal Decree 249/2023 of 4 April regarding the revocation of the NIF of commercial companies.
Royal Decree 249/2023, of 4 April, which amends – among other regulations – Royal Decree 1065/2007, of 27 July, on the General Regulations on tax management and inspection actions and procedures and on the development of the common rules for tax application procedures, extends the list of cases in which the Tax Identification Number (“NIF”) […]
News about Housing Law
After more than a year since the Draft Law for the Right to Housing, the Congress approved it on Thursday 27 April. It is based on article 47 of the Spanish Constitution, which establishes the right to enjoy decent and adequate housing. Its main objective is to provide the Autonomous Communities and City Councils with […]
Reduction of the share capital of LLC below the legal minimum of 3,000 euros
The General Directorate of Legal Security and Public Faith interprets extensively Article 4.1 of the Capital Companies Act (LSC). The DGSJFP has interpreted said article in order to admit the possibility of reducing the minimum capital of a limited liability company below the minimum capital of 3,000 euros and based on the rule of the […]
Internacional Business Centre of Madeira
This information note seeks to clarify some points for our Clients regarding the Special Tax Regime for the International Business Center of Madeira (hereinafter, the “IBC Regime”), through some notes that aim to dispel possible misconceptions. First of all, it is essential to debunk the idea that the scheme has been repealed or that it […]
Donation rebate with document formalized before a foreign Notary public
The Regional Economic-Administrative Court of Madrid (TEAR) recognizes the ISD rebate even with a document formalized by a foreign Notary Public. In a Resolution dated May 12th, 2023, the TEAR upheld the claim filed against the provisional ISD liquidation of the Community of Madrid, determined by the DGT of the Community of Madrid, which denied […]
Request by minority shareholder for a notary witnessing the shareholders meeting and inefectiveness of corpote resolutions
The General Directorate of Legal Certainty and Public Faith girded to the wording of Article 203 of the Spanish Companies Act (SCA). The GDLCPF ratified the resolution issued by the Commercial Registry rejecting the recording of a public deed executing corporate resolutions reached by the Shareholders’ Meeting of a Spanish company by the appropriate majority […]
Deductibility of the IS of the remuneration of a director with dual relationship
The Supreme Court reiterates the doctrine on the tax deductibility for Corporate Income Tax (IS) of the remuneration of a director who also performs senior management functions. By ruling STS 4594/2023 of November 2, 2023, ECLI:ES:TS:2023:4594, the Litigation Chamber of the Supreme Court has developed how the deductibility of expenses in Corporate Income Tax should […]
The provisional deregistration in the AEAT Entities Index prevents the registration of the dissolution of a company and the appointment of the liquidator
The dissolution of the company and the appointment of the liquidator are not part of the entries that the Registrar may make if the marginal note of closure due to provisional deregistration in the Index of Entities is in force. The Directorate General of Legal Security and Public Faith (DGSJFP) reiterates the criterion that exclusive […]
