Thursday, 19 January 2012

Spain increases tax rates for 2012 and 2013

On 30 December 2011, the new Spanish government approved a royal decree with relevant tax measures for years 2012 and 2013, which increased the tax rates for both Spanish residents and non-Spanish residents deriving Spanish source income. This increase of tax rates is, in principle, a temporary measure, effective from 1 January 2012 to 31 December 2013.

Source: Ernst & Young