Starting this accounting year (1/1/08) the Spanish corporation tax rate is 30%. It is important to notice that Small and Medium Enterprises (PYME) will have a reduced rate, which works as follows:

25% Corporation Tax rates for profits up to 120,202 Euros

30% for profits above the 120,202 Euros threshold

There are several other important considerations regarding International Accounting Standards, which we will be discussing in subsequent notes.


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