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Spain Proposes Tax Loss Claim Limit for Large Companies

Sept. 29, 2022, 4:00 PM

Large companies would see their ability to claim losses from subsidiaries for corporation tax purposes limited by 50% from 2023 under proposals outlined by Spain’s Finance Minister Thursday.

The change would be temporary, Finance Minister María Jesús Montero said in a presentation. She also proposed a tax cut for smaller companies. The change will help boost revenue needed to meet the cost of living crisis, she added.

  • The proposed measure would only apply to large companies belonging to consolidated groups, of which there are around 3,600, she added.
  • “This is not a tax increase but rather the introduction of ...