Spanish Tax Reform for 2015 Approved

Following approval by Congress on November 20, the laws amending Spain's individual and corporate tax regimes was published on 28 November 2014. The main changes introduced include:

Corporate Income Tax

• The corporate income tax rate will be reduced from 30% to 28% in 2015 and to 25% in 2016 (25% in 2015 for companies with a taxable base less than €300,000)
• The reduced corporate rate of 15% on income up to €300,000 for companies formed in 2013 or 2014 will be maintained for 2 years
• A tax-f…