The Government goes a step further in its objective of approving before the end of the year a minimum corporate tax of 15% for all multinationals, as established by the European directive. And it does so precisely in the middle of the controversy over Ferrovial’s departure to the Netherlands in an attempt, among other things, to pay less taxes. However, it is a mere coincidence in time, since in the Netherlands they will also have to comply with community law.
The Ministry of Finance and Public Function released this Tuesday for prior public consultation the norm for the transposition into Spanish law of the European directive regarding the establishment of a global minimum level of taxation for groups of multinational companies and large-scale national groups in The EU.
The Executive thus intends to carry out the transposition of the European directive that obliges the Member States to adopt and publish the internal regulatory provisions of transposition before December 31, 2023 so that they are applicable with respect to the tax periods that begin as of said date. day.
The document published on the Ministry’s website explains that the transposition of the precepts of this directive into Spanish internal regulations will prevent the erosion of tax bases by establishing the complementary tax that allows reaching the global minimum rate of 15%, agreed in the OECD.
The Directive states that its purpose is to establish a minimum effective taxation for multinational groups and for large-scale national groups through a complementary tax structured through the following two interconnected rules: The income inclusion rule (RIR) and the rule of undertaxed benefits (RBIG).
By virtue of the income inclusion rule, the parent company residing in Spanish territory of a multinational group or a large national group will be obliged to calculate and pay a complementary tax with respect to the income obtained by the constituent entities of the group with a low tax level.
The multinational and national groups whose annual income is equal to or greater than 750 million euros will be governed by these new rules, according to the consolidated financial statements of the ultimate parent entity. But public entities, international organizations, non-profit organizations, pension funds and investment funds and real estate investment instruments are excluded from the scope of application of the Directive when they are the ultimate parent entity.