Regulatory Alerts2020-12-30
Law 10/2020 of 29 December amending the General Tax Law to transpose Directive (EU) 2018/822 on mandatory automatic exchange of information in the field of taxation regarding cross-border arrangements
The Spanish State enacted Law 10/2020 to transpose EU Directive 2018/822, imposing mandatory reporting obligations on intermediaries and interested taxpayers regarding potentially aggressive cross-border tax planning mechanisms. The legislation establishes specific penalties for non-compliance, including fines ranging from 600 to 4,000 euros or the value of fees, while recognizing professional secrecy exemptions for neutral legal advice. It further regulates the duty to notify other participants of exemptions or filings and applies retroactively to arrangements executed between June 2018 and July 2020.
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