The lower house of parliament in Spain approved Bill No. A-114-9, which seeks to introduce a set of tax measures targeting securities. Among the provisions of the bill are:
- exemption of VAT and transfer tax for qualifying securities transfers;
- imposition of taxation on securities transfers carried out to evade real estate transfer tax;
- establishment of criteria to determine eligibility for the exemption from VAT and transfer tax;
- requirements for companies that issue securities and financial intermediaries to provide information regarding securities issuances, subscriptions, and transfers.
- guidelines for calculating the tax base and rate for taxable securities transactions.
Additionally, the bill allows for the option of saving the securities for later transactions.
Disclaimer: Reproduced/Adapted with permission from Global VAT Compliance.