New protocol amending the current US-Spanish tax treaty
On January 14, 2013 the US and Spain signed a new protocol amending the current 1990 tax treaty for the avoidance of double taxation (the “Treaty”).
January 17, 2013The Protocol includes significant changes to foster the efficiency of reciprocal direct investment in the US and Spain. In particular, it brings withholding treaty rates and other provisions in line with the tax treaties in force between the US and the most significant European Union countries, effectively eliminating the need for complex and costly investment planning structuring.