The Spanish Government announced a proposal for adjustments to the tax system. Proposed changes include changes to corporate income tax, personal income tax and others. The overall aim of the proposal is to reduce the burden from direct taxation and reduce tax fraud.
Some of the main proposed changes in regard to corporate tax include:
- A reduction in the corporate income tax rate from the current 30% to 20% over a period of time and eliminating most tax benefits
- Introduce a new d…