Monday, January 15, 2018
From 2018, Spain will automatically exchange tax information with other countries. In so doing, they will fulfil the Multilateral Competent Authorities Agreement regarding the country-by-country exchange of information which was signed by 30 countries, including Spain, in 2016.
This means that Spain will have access to disaggregated information on the taxes paid by multinationals with headquarters in the signatory countries, thus avoiding the need for signing bilateral agreements with each of them.
The aim of the agreement is to have access to information so that agressive tax planning schemes which are designed to reduce or avoid paying taxes can be curbed. It will also shed more light on transfer pricing, and may also be used by the tax authorities.
