BEPS: Here are Spain CbC Reporting Rules (as of Now) in EnglishPar Robert Robillard - 8 février 2015
Thanks to the Unofficial RBRT translator (who wishes to remain anonymous), here are Spain CbC reporting rules as they first appeared in Ley 2014/27 Cuadro comparativo released on November 27, 2014 available here:
« 3. In order to justify that operations/transactions have been measured at their market value, the persons or related entities shall make available to the tributary administration/tax authorities, according to the proportionality and sufficiency principles, the specific documentation established in regulations.
Such documentation will have a simplified content with respect to the persons or related entities whose business net revenues, as defined in Article 101 of this Act, is less than 45 million euros.
Under no circumstances shall the simplified content of the documentation be the result of the application of the following operations:
1. Those made by taxpayers’ Income Tax for Individuals, in the development of an economic activity, resulting from the application of the objective assessment method with entities in which themselves or their spouses, ascendants or descendants, individually or jointly, have an equal or more than 25% of the share capital or of company’s equity.
2. Business transmission operations.
3. Securities or shares transmission operations representative of the participation in the company’s equity of any type of entity not listed for trading on any of the regulated stock markets or listed for trading on regulated markets in countries or territories qualified as tax havens.
4. Inmovable property operations
5. Intangible assets operations
The specific documentation will not be required for:
a) Transactions between entities that are integrated into a single consolidated tax group, subject to the provisions of Article 65.2 of this Law.
b) Transactions with its members or other entities of the same fiscal consolidation group by economic interest groups, according to the provisions of Law 12/1991, on April 29, of Economic interest groups, and temporary joint ventures, regulated by Law 18/1982, on May 26, on taxation of associations and temporary joint ventures of companies and societies of regional industrial development, and registered in the special register of the Ministry of Finance and Public Administration. However, specific documentation will be required in the case of temporary joint ventures or collaboration formulas similar to temporary unions, which adopt the system stipulated in Article 22 of this Law.
c) Transactions in the field of initial public offerings
d) Transactions with the same person or related entity, provided that the amount of the consideration/retribution of all transactions does not exceed 250,000 euros, according to the marker value. »
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