Royal Decree – Law 3/2016 of 2 December 2016

Royal Decree-Law 3/2016, of 2 December 2016 (“RDL”) was published in the Spanish Official Gazette, approving, amongst others provisions, tax measures aimed at raising funds to address the country’s budget deficit. The government has introduced extraordinary corporate income tax (CIT) measures and increased certain excise taxes, essentially aimed at raising funds together with those actions taken to counteract tax fraud. It is expected to do so to the tune of some additional Euros 7,000 million this year alone.

The tax measures introduced in the CIT pursue to broaden the CIT taxable base of major multinationals, modifying certain exemptions and tax credits. Although they may be significant, somehow they are in line with those introduced in year 2015 with the new Spanish CIT Law and with the tax system of other EU member States.

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