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Spanish budget law for 2016

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29 Dec. 2015

On October 30 last, Law 48/2015 was published at the Official State Gazette with new tax regulations of which we highlight the extension of application of Wealth Tax for 2016. A 100% reduction will apply (in principle) in 2017.

However, it should not be forgotten that although it is an amendment at central government level, the regional governments have legislative powers in this respect and therefore the specific regional legislation must be taken into consideration.

Also to mention that the legal interest rate for money is set at 3% and the official moratory interest rate is set at 3,75%.

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