On Tuesday, the Council of Ministers approved the start of the transposition of the European directive setting the minimum corporate tax rate at 15%. Although in Spain this rate is already in force from 2022, the change means that the tax is paid adjusted accounting result.

This change was already included in the government agreement that PSOE and Sumar entered into and was criticized by the companies, realizing that this change would harm them in financial matters. In fact, a group led by Yolanda Díaz estimated that with this change the Treasury would gain 10 billion euros, calculations that did not receive the approval of the department headed by Maria Jesús Montero.

As explained in a statement from the Ministry of Finance, the bill approved on Tuesday adapts the Spanish legal framework. to international tax agreements reached in the G20 countries, the OECD or the European Union. combating tax evasion by transnational corporations.

As of 2022, Spain already has an effective minimum corporate tax rate of 15% for large business groups, now complemented by OECD Pillar 2 in coordination with hundreds of countries.

New rules will apply to transnational groups or domestic groups with a turnover of at least €750 million.according to the consolidated financial statements of the parent company for at least two of the last four years (same threshold as for country information).

Some organizations are excluded from this obligation, such as government agencies, international organizations, non-profit organizations or pension funds. In practice the rules will mean introduction of an additional tax with three “additional configurations”.

Firstly, the national additional tax ensures that large companies based in Spain reach a minimum rate of 15% of the adjusted accounting result (instead of a tax base such as an already existing tax), and does not apply if group taxation already exists. exceeds this threshold.

Secondly, the primary surtax is activated when The group, based in Spain, receives income from subsidiaries abroad, which does not reach 15%.

Finally, a secondary additional tax is activated when a company in a multinational group has earned income abroad that does not reach 15%, a tax that falls not on the parent company (as the main one), but on the subsidiaries in Spain.

The current nominal corporate tax rate is 25% – excluding SMEs (23%) and banks and oil companies (30%) – with an effective minimum for large companies of 15% of the tax base – 18% for banking and hydrocarbons. .