The Spanish Official Gazette May 25 published Law No. 13/2023, introducing new interest deduction limitation rules, and amending various tax measures. The decree includes measures: 1) allowing deduction on net financial expenses with a limit of 30 percent of the operating profit for the year; 2) providing that the net financial expenses of the tax period amounting to 1 million euros (US$1.06 million) will be deductible; 3) allowing taxpayers to carry forward the amount not deducted to the following tax periods, and difference for up to five years; 4) amending implementation of DAC6 to provide that an intermediary subject to .

https://news.bloombergtax.com/daily-tax-report-international/spain-gazettes-law-introducing-new-rules-of-interest-deduction-limitation-amending-various-tax-measures

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