Recent indirect tax developments in Spain include the publication on 5 January 2021 of a resolution issued by the Spanish General Directorate of Taxes (GDT) regarding reciprocity between Spain and the UK concerning VAT refunds after the 31 December 2020 end of the transition period following the UK’s departure from the EU. In addition, the GDT and the Canary Islands tax authorities published binding tax rulings regarding the circumstances under which the output VAT taxable base may be reduced in a case where a customer that fails to pay a debt is the subject of an insolvency proceeding.
Source: Deloitte
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