News: Spanish Tax Office Names 5 Business Priorities for 2020

The Spanish Tax Inspectorate (Hacienda Tributaria) has announced plans for 2020. The officials formulated 5 main areas, which will be given special attention. Representatives of Hacienda Tributaria plan to pay great attention to transfer pricing, as well as the fight against tax evasion, which is a big problem in Spain.

The Spanish Tax Inspectorate will pay particular attention to the following business aspects:

• Restructuring of organizations, valuation of the transferred assets (in particular, we are talking about intangible assets);
• Deductions capable of changing the tax base (such as royalties or the provision of transfer pricing services);
• Low-risk activities that require a significant economic presence (for example, manufacturing);
• Development of taxation methods for high-performance business models;
• Implementation of an automated transfer pricing risk assessment system.

Law&Trust offers legal services for companies operating in Spain. Our lawyers will tell you in more detail what will change for legal entities in this country, about the new transfer pricing rules, as well as about other innovations for the Spanish business.