The General Court of the European Union on October 7 ruled that a Spanish tax incentive which allows for amortization of goodwill in foreign company share acquisitions is not incompatible with EU state aid rules. As such, the Court annulled 2009 and 20011 European Commission decisions . . .
Spain has approved a more generous special tax regime for companies operating in the Canary Islands which includes an extension of the 4 percent corporate income tax rate to all of a company’s taxable income if conditions are met, writes PwC in an April 29 tax alert. See, PwC.
The European Commission has concluded that a Spanish tax scheme benefiting companies that acquire foreign shareholdings is incompatible with EU state aid rules . . .
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