On 30 October 2015, Spain published the Budget Law for 2016 (Law 48/2015) in the Official Gazette. The main tax-related measure is a change in the patent box regime to bring it in line with modified nexus approach as developed under Action 5 of the OECD BEPS Project.
Under Spain's current patent box regime, taxpayers are allowed a 60% tax exemption on net income after amortization derived from granting the rights to use qualified IP and on capital gains from the sale of qualified IP to unrel…