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- Daily brief -Tuesday 23 August 2016
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Further austerity cuts hit Spanish corporations
Spanish Businesses such as Banco Santander, Telefonica and Iberdrola may be forced into making payments to the Government of as much as a combined 1 Billion Euros.
This will apply to overseas acquisitions by Spanish companies since 2007, following a recent reform of economic measures.
Tax reductions, referred to as 'Goodwill deductions' had been previously taken advantage of by corporations who had looked to expand their operations overseas, but it now seems that these deductions are to be clawed back.
This is just one of several austerity measures brought in by parliament over the last week, and follow news that Spanish Businesses will also now be expected to pay a certain potion of their annual taxes in advance, as already expected of their employees.
Latest News & Stories
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- Over 204,000 Moroccans Affiliated to Spanish Social Security
- Spain's Yoigo gains 19,900 mobile lines in July
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- Despite devalued post-Brexit pound, British visitor numbers to Spanish hotels up 15%
- Ibiza flight delayed after ‘police officer’s gun accidentally goes off’
- Ryanair announce launch of new routes to Spain
- Socialist Party assumes Rajoy will fail in bid to form government
- Aeromur retreat from Murcia's Corvera Airport ?
- Spain may call Election on Christmas Day
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