On August 2, 2014, the Spanish Cabinet approved the lowering of income tax rates.
Three bills containing most of the measures of the tax reform that was announced in June were submitted to Parliament on August 1, 2014
New rules in effect July 1 2013
Eliminates many administrative burdens faced by new businesses and promotes new incentives
With Law 7/2012, Spain joins list of taxing authorities increasingly focused on information reporting
Makes US-Spain treaty more similar to other US-EU member state treaties.