Spain and Morocco renew their Agreement on double-taxation while the international market is being reassembled after Brexit and Qatari’s banks are increasing.
This week at Del Canto Chambers, we have been focused more on highlighting the current fiscal timeliness because it has been going on interesting news from the fiscal law firm’s work point of view.
First of all, we analysed the reasons why the Spanish Tax Agency is investigating numerous multinational businesses in Spain such as Apple or Google (“The Spanish Tax Agency investigates technologic multinationals in Spain”). Some researches that, sometimes, are responded from the Courts, like the case of the trial won by Iberia to Spanish Tax Agency by which the Spanish airline avoids to pay 29 million euros of non-resident income tax (IRNR) (Iberia wins a millionaire trial to the Spanish Tax Agency).
In this regard, our Managing Director, León Fernando del Canto, published an article in The Times about the CJEU’s advocate general’s line’s consequences on floor-clauses with regard to the properties that numerous British citizens are owning at Costa del Sol in Spain, mostly as a holiday homes (“Bad news for Brits with a holiday home in Spain“).
In the international field, law firms and chambers able to internationalise their activities are in luck because countries like Spain and Morocco’s doors will be opened for trade. Spain and the Alawite country have modified their 1978’s Agreement on double-taxation and now, dealings and providing services at the other side of the Strait will be easier and juridically safer (“Spain and Morocco modify their double-taxation agreement“)
In the other side, our expert María Arcenegui Siemens describes the good health that Qatari’s banking system (and Qatar itself) are having, after the last report released by the Moody’s agency, in her article “According to Moody’s Qatar’s banking system is looking buoyant“.
Samples of this are the Qatar’s QIIB bank’s consolidation strengthening, the most important bank in Qatar and a representative of the so-called “Islamic Finances”. (“Qatari’s QIIB bank strengthen its strong position in the Qatar’s banking system“) and the renewal of the sponsorship agreement between Qatar Airways and FC Barcelona in Spain.
Finally, we echoed the corporate tax’s increasing by the Spanish government which confirmed that it would be, at the very least, up to 20% although a final figure was not given (“Spanish corporate tax will grow up more than 20%”)
It has been seven days of feverish juridical timeliness by which we are expecting to keep sharing with all of you, readers, from these (virtual) pages of our blog.
Xavier Nova (@xavinova)
Del Canto Chambers’ Director.