What’s new global minimum tax

New global minimum tax: the Congress of Deputies is entrusted with the approval of the Draft Law to transpose the European Directive (EU) 2022/2523 through the urgency procedure.

On 4 June 2024, the Council of Ministers approved, in the second round, the Draft Law to transpose European Council Directive (EU) 2022/2523 of 15 December 2022, which guarantees an overall minimum level of taxation (15%) for multinational groups and large national groups.

This rule will allow the establishment of an overall minimum rate of 15% for multinational groups or domestic groups with a consolidated net turnover of 750 million or more.

On 14 June 2024, the text of the Draft Law was published in the Official Gazette of the Spanish Parliament and the Congress of Deputies was entrusted with its approval by means of the urgency procedure.

The text of the Draft Bill presents various modifications with respect to the Preliminary Draft published last December by the Ministry of Finance.

We will be watching for amendments to the text (the deadline for amendments is 24 June 2023), its debate and approval.

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