• Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 3/28/2014

Spain - New tax measures for corporate debt refinancing, restructuring 

March 28: New provisions in Spain—enacted as Royal Decree-Law 4/2014, with an effective date of 9 March 2014—relate to the refinancing and restructuring of corporate debt.

Among the provisions are items concerning:

  • The tax treatment of increases to capital by means of the capitalization of debt
  • The tax treatment of income recognized as a consequence of arrangements with creditors
  • The grounds for corporate dissolution due to losses and impairment losses
  • An exemption from the transfer and stamp tax for deeds recording debt write-offs or reductions in the amount of loans, debt claims, or other obligations for debt that are subject to refinancing agreements

Read a March 2014 report [PDF 132 KB] prepared by the KPMG member firm in Spain: Tax developments introduced by Royal Decree-Law 4/2014 of 7 March 2014 on urgent measures relating to the refinancing and restructuring of corporate debt

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