The much awaited amendments to the ERs have been made through Ministerial Decision No. 14/2019 published in the Official Gazette today. These amendments supplement and clarify the application of certain provisions of the Tax Law that were amended pursuant to Royal Decree No. 9/2017, issued in February 2017.
These amendments are likely to impact many taxpayers. While most of the amendments will apply prospectively, certain amendments, such as specified withholding tax exemptions, may require close evaluation to understand their potential coverage and impact on past transactions.
Key amendments include:
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