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03/04/2012

Tax measures implemented by Royal Decree-Law 12/2012

On 30 March 2012, the Spanish Government approved the Royal Decree-Law (Real Decreto-Ley) 12/2012, which was published in the Spanish Official Gazette on 31 March and implements various tax and administrative measures to reduce the public deficit (“RD-Law 12/2012”). RD-Law 12/2012 has introduced several modifications to Corporate Income Tax (“CIT”), introduced a new special tax on dividends and capital gains deriving from shares in non-resident companies (as a tax alternative to CIT), established an extraordinary regularisation procedure for undeclared assets and rights, and modified the local tax on the increase in the value of urban land.

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