News

16/09/2019

New Protocol amending the current U.S. - Spain Tax Treaty

On January 14, 2013 the U.S. and Spain signed a new protocol amending the current 1990 tax treaty for the avoidance of double taxation in force between the two countries. After being blocked for more than six years, the new protocol will finally enter into force on November 27th 2019 and will significantly amend the tax treatment of payments made between Spain and the U.S.

In particular, the new protocol includes significant changes to foster the efficiency of reciprocal direct investment in the U.S. and Spain and brings withholding treaty rates and other provisions in line with the tax treaties in force between the U.S. and the most significant European Union member States. In most cases, the new protocol reduces or even exempts from taxation at source, enhancing the commercial and financing relationships between the U.S. and Spain.

Click here for more information.

For further information, please contact:

Pilar Igartua
Uría Menéndez Madrid
Tel: +34 91 586 03 72
E-mail: pilar.igartua@uria.com