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CMS Expert Guide to Mastering OECD's Pillar Two in Spain

Key stages in the introduction of global minimum taxation

Table of contents
  1. Has there been a formal indication of the intention to implement Pillar Two/GloBE rules?
  2.  What is the implementation status of Pillar Two/GloBE rules?
  3.  Have your tax authorities published guidelines commenting on Pillar Two/GloBE rules?
  4.  When will the Income Inclusion Rule (IIR) come into force?
  5.  When will the Undertaxed Payments Rule (UTPR) come into force? 
  6.  Is there any intention to implement a Qualifying Domestic Minimum Top-Up Tax (QDMTT)? If so, when?
  7. Further comments
Spain
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1.Has there been a formal indication of the intention to implement Pillar Two/GloBE rules?

Yes.

2. What is the implementation status of Pillar Two/GloBE rules?

Pending implementation of the EU directive - before 1 January 2024

3. Have your tax authorities published guidelines commenting on Pillar Two/GloBE rules?

Yes. Please refer to "MEMORIA DEL ANÁLISIS DE IMPACTO NORMATIVO del Anteproyecto de Ley por la que se establece un Impuesto Complementario para garantizar un nivel mínimo global de imposición para los grupos multinacionales y los grupos nacionales de gran magnitud."

4. When will the Income Inclusion Rule (IIR) come into force?

2024.

5. When will the Undertaxed Payments Rule (UTPR) come into force? 

2025, except for groups of entities whose ultimate parent companies are located in member states of the European Union that have exercised the option under Article 50(1) of Directive (EU) 2022/2523).

6. Is there any intention to implement a Qualifying Domestic Minimum Top-Up Tax (QDMTT)? If so, when?

2025, except for groups of entities whose ultimate parent companies are located in member states of the European Union that have exercised the option under Article 50(1) of Directive (EU) 2022/2523).

7. Further comments

March 6, 2023 – Spain’s Finance Ministry launched a public consultation on domestic legislation that would  implement the EU Directive to implement Pillar Two rules. The ministry accepted comments through March 24.

In order to balance the aims of the application of this new tax regime and the administrative burden, the draft Law introduces certain exclusions from the top-up tax based on de minimis or for compliance with the terms of an admissible international agreement on safe harbors.