New corporation tax law (part II)

New corporation tax law (part II)

On February 27, 2015, we published the Circular 02 2015, "New IS Law (part I)", in which we analyze some of the novelties introduced by law 27/2014, November 27, corporate tax (hereinafter, the new is law) , which entered into force on 1 January 2015, notwithstanding that certain provisions thereof have a different date of effect. As we discussed, this is a new normative text, that is, we are not faced with a consolidated text, as happened with its predecessor, that is, the law passed through the Royal Legislative Decree 4/2004, of 5 March (hereinafter, the IS's previous law). Given the extent and complexity of the reform carried out, we have finally decided to divide the content of the main changes introduced into three circulars, which will also allow us to treat them more deeply, with the present Circular Second. In this sense, we take the opportunity to anticipate that the third Circular will deal with the novelties introduced by the new IS law in relation to related operations. In this second circular, we will continue with the modifications relating to the Taxable base (section III of the circular), continuing with the order of paragraphs that is given by the circular. 150525_Circular_06 -2015 _ Reforma_IS_Parte_II

 

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