Spain Enacts Regulations for Imposing 15% Global Minimum Tax

Spain has approved regulations to determine the standards under which it will impose the 15% global minimum tax and the income adjustments that can be made in calculating it.

Spain’s Council of Ministers approved a royal decree establishing the regulations, the government said Tuesday. The regulations develop a law that Spain enacted in December to implement the global minimum tax, which requires big multinational companies to pay at least 15% in taxes no matter where in the world their profits are made.

• The regulations deal with determining a company’s tax base and adjusted taxes covered by the minimum tax, ...