It has been published, as a transposition of Council Directive (EU) 2022/2523, of December 14, 2022, relating to the guarantee of a global minimum level of taxation for groups of multinational companies and large national groups in the Union, a Draft Law to establish a Complementary Tax to guarantee a global minimum level of taxation of 15% for said entities.
This Draft Law involves following the recommendations of what is known as Pillar 2 of the OECD BEPS program, an initiative that seeks to fight against the erosion of the tax base and the shifting of profits, to which the Member States have adhered and which was integrated into the aforementioned Directive.
This rule will allow the establishment of a global minimum rate of 15% for multinational groups or large national groups. Specifically, it will apply to those with a net amount of their consolidated turnover equal to or greater than 750 million, according to the consolidated financial statements of the ultimate parent entity in at least two of the last four immediately preceding years.
The configuration of the Complementary Tax is based on three expressions:
- The national complementary tax. Its main purpose is to guarantee that entities located in Spanish territory achieve a minimumtax rate of 15% in Spain.
- Primary complementary tax. In this case, the tax will be applied when the parent company of a multinational group located in Spainobtains income from foreign subsidiaries, which are considered entities with a low tax level, as they bear an effective tax rate of less than 15%, when the jurisdictions in which they are located would not have implemented an admissible national complementary tax.
- Secondary complementary tax. It acts as a closure system and is activated when some of the multinational group companies have obtained income abroadthat has not been taxed at 15%. The difference between the primary tax and the secondary tax is that the latter does not fall on the parent company, but on subsidiaries of the group located in Spain.
The tax will come into force retroactively from January 1, 2024, and will accrue the last day of the tax period, coinciding with the fiscal year of the group’s ultimate parent company. However, the first informative declaration on the Complementary Tax and the communications will be presented to the Tax Administration at the latest on June 30, 2026, and the maximum deadline to submit the first tax declaration will be July 25, 2026.
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Access to the full Draft Law HERE
