The final version of a Spanish Royal Decree, which in draft form imposed new
transfer pricing documentation requirements for tax periods beginning on or
after 1 January, came into force on 14 March without the new rules.
Governments have long supposed, no doubt correctly in most cases, that multinational
organisations exploit pricing between countries in which they operate in order
to achieve the most favourable tax result.
It is believed that the Spanish disclosure and documentation provisions were
left out to give taxpayers more time to prepare. Furthermore, there may not
be legal support for the new rules, as the Corporate Income Tax Law in most
cases does not formally require taxpayers to provide written documentation of
their transactions with related parties.
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