Spain: Updated list of tax havens
Effective
1 January 2015
the Spanish Tax Ministry has officially removed 15 countries from the “blacklist” of tax havens, following the signature of Double Taxation Treaties (DTTs) between these 15 countries and Spain.
Law 26/2014 from 27 November 2014 clarified that a country or territory is considered as tax haven in Spain only if it is specifically ruled.
The Spanish treasury concluded that, as of 1 January 2015, the tax haven list will not be automatically updated but there will be an express exclusion based on three criteria as described by the Spanish treasury:
- The existence of a DTT with a clause of Exchange of information, an agreement to exchange tax information or the Convention on Mutual Administrative Assistance in Tax Matters of the OECD and the Council of Europe, amended by Protocol in 2010, that is applicable;
- An effective exchange of tax information does not exist;
- The results of the evaluations of the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Consequently, the official list published in 1991 has been updated to reflect the countries and territories considered as tax-havens as of 1 January 2015.
We continue to monitor the Spanish market and will provide more information as it becomes available.
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