Barcelona, June 1st 2016 | A new edition of the Marco Legal´s Newsletter (2nd trimester 2016) has already been published. Here we will find current topics about new Law Enforcements in Spain, such as the one concerning capital gains due to a change of residence, so-called “exit tax”.
Law No 35/2006 on Personal Income Tax (Impuesto de la Renta de las Personas Físicas, IRPF) has been modified and a new article, the 95bis, has been incorporated. This provision indicates that the latent and not materialized capital gains can be subject to taxation in case of a change of residence. The purpose of the modification is to avoid the relocation of the companies to countries with more favourable tax systems at the expense of the revenue collection capacity of the Spanish Tax Authorities.