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 ...