ey-global-tax-policy-outlook-for-2015

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Spain 2.3 Tax policy outlook for 2015 — summary Corporate income tax burden Lower No change Higher Personal income tax burden Lower No change Higher VAT/GST/sales tax burden X Lower No change Higher X X 2.4 Tax policy outlook for 2015 — detail Corporate income taxes • From 1 January 2015, the new participation exemption regime of the CIT Law will not tax capital gains on the sale Foreign investments might increase in Spain if this regime was applied also to nonresident companies. • The recently approved Spanish Corporate Income Tax pilot projects related to animation and video games will projects give the possibility to apply a deduction of 12% of the costs incurred in the year in which these activities take place. Formerly, game development was not considered innovative. Additionally, as from 2015, if a company of the deduction for this concept may raise from three contemplated in 2014 in which the limit was, in any case, three million euros. Taxes on wages and unemployment • The withholding rate on payments to individuals is currently 21% and will be lowered to 20% as from 2015 and 19% as from 2016. VAT, GST and sales taxes • More incentives (lower VAT rates) for housing and cultural activities could be approved in order to stimulate domestic consumption. Lower rates in the real estate sector could • The VAT rate on goods and services related to cultural services was raised from the reduced rate of 8% to the general rate of 21% in 2012, and it would be advisable, in order to smooth the way out of the crisis of this sector, to lower it. 172 | The outlook for global tax policy in 2015
Spain 2.5 Fiscal stimulus in 2015 If Very or Somewhat likely, which tax measures do you think will most likely be included (select all that apply) 2.6 Political landscape • Elections in 2015: • Local (Town Halls) and autonomous (Regions) elections: May 2015 • 2.7 Current tax policy and tax administration leaders 2.9 Country position on OECD Base Erosion and Prot Shifting (BEPS) Action Plan • Spanish tax authorities have joined the BEPS working group. • Some restrictions and anti-fraud measures following the that will enter into force in 2015. 2.10 Pending tax proposals • New CIT Law to enter into force in 2015 • Relevant changes to enter into force in 2015 on: • Nonresidents Income Tax law • PIT Law • VAT Law • Parliament in 2015 2.11 Consultations opened/closed • Not applicable • Cristóbal Montoro, Finance Minister 2.8 Key tax policy changes in 2014 • Fiscal consolidation temporary measures initially stated for 2012 and 2014 were extended for 2014. The outlook for global tax policy in 2015 | 173
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The outlook for global tax policy i
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Tax twists and turns For more than
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where cuts in VAT rates were initia
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What were the highlights of 2014 fo
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Forecast of tax policy trends for 2
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The strong focus on the tax treatme
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in the formation of tax policy in 2
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Italy Japan 6/2 of the 29 countries
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to understand; if governments are g
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Messages for business We are now we
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This is probably going to turn out
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Actions for business to consider Ag
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Connect with us The outlook for glo
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Americas Tax policy Tax controversy
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Tax policy Tax controversy New Zeal
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EMEIA Tax policy Tax controversy Eu
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EMEIA Tax policy Tax controversy Sl
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Country outlooks The outlook for gl
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The outlook for global tax policy i
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Australia The following election go
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Australia 2.3 Tax policy outlook fo
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Australia 2.10 Pending tax proposal
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Brazil 2.2 Fiscal consolidation vs.
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Brazil 2.5 Fiscal stimulus in 2015
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Canada 2 | 2015 tax policy outlook
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Canada 2.3 Tax policy outlook for 2
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Canada 2.9 Country position on OECD
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Chile 2.2 Fiscal consolidation vs.
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Chile Taxes on wages and employment
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Chile 2.11 Consultations opened/clo
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China 2 | 2015 tax policy outlook
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China • • Top marginal persona
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China 2.4 Tax policy outlook for 20
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China 2.10 Pending tax proposals
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Czech Republic 2 | 2015 tax policy
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Czech Republic 2.5 Fiscal stimulus
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Denmark 2.2 Fiscal consolidation vs
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Denmark 2.7 Current tax policy and
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Finland 2.2 Fiscal consolidation vs
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Finland 2.8 Key tax policy changes
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France 2.2 Fiscal consolidation vs.
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France exceeds €1 million. Remune
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Germany 2 | 2015 tax policy outlook
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Germany 2.4 Tax policy outlook for
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Germany 2.9 Country position on OEC
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Greece 2.2 Fiscal consolidation vs.
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Greece 2.7 Current tax policy and t
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Hungary 2.2 Fiscal consolidation vs
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Hungary 2.5 Fiscal stimulus in 2015
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India 2 | 2015 tax policy outlook 2
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India 2.4 Tax policy outlook for 20
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India • Action 8 • The Indian t
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Ireland 2.2 Fiscal consolidation vs
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Ireland 2.8 Key tax policy changes
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Ireland 2.11 Consultations opened/c
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Italy 2 | 2014 tax policy outlook 2
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Italy 2.7 Current tax policy and ta
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Japan 2.2 Fiscal consolidation vs.
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Japan • • for each stock owne
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Japan 2.9 Country position on OECD
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Luxembourg 2 | 2015 tax policy outl
Page 123 and 124: Luxembourg 2.4 Tax policy outlook f
Page 125 and 126: Luxembourg 2.10 Pending tax proposa
Page 127 and 128: Malaysia 2 | 2015 tax policy outloo
Page 129 and 130: Malaysia 2.3 Tax policy outlook for
Page 131 and 132: Malaysia 2.9 Country position on OE
Page 133 and 134: Mexico 2.2 Fiscal consolidation vs.
Page 135 and 136: Mexico 2.7 Current tax policy and t
Page 137 and 138: Netherlands • Additionally, the C
Page 139 and 140: Netherlands 2.4 Tax policy outlook
Page 141 and 142: Netherlands exemption, the tax tre
Page 143 and 144: New Zealand 2.2 Fiscal consolidatio
Page 145 and 146: New Zealand 2.6 Political landscape
Page 147 and 148: Poland 2.2 Fiscal consolidation vs.
Page 149 and 150: Poland 2.5 Fiscal stimulus in 2015
Page 151 and 152: Portugal 2 | 2015 tax policy outloo
Page 153 and 154: Portugal 2.4 Tax policy outlook for
Page 155 and 156: Russia 2 | 2015 tax policy outlook
Page 157 and 158: Russia 2.4 Tax policy outlook for 2
Page 159 and 160: Russia 2.9 Country position on OECD
Page 161 and 162: Slovak Republic 2.2 Fiscal consolid
Page 163 and 164: Slovak Republic VAT, GST and sales
Page 165 and 166: South Africa 2.2 Fiscal consolidati
Page 167 and 168: South Africa 2.8 Key tax policy cha
Page 169 and 170: South Korea 2.2 Fiscal consolidatio
Page 171 and 172: South Korea 2.6 Political landscape
Page 173: Spain 2.2 Fiscal consolidation vs.
Page 177 and 178: Switzerland 2.2 Fiscal consolidatio
Page 179 and 180: Switzerland 2.5 Fiscal stimulus in
Page 181 and 182: Thailand • Continued sluggish eco
Page 183 and 184: Thailand 2.4 Tax policy outlook for
Page 185 and 186: Thailand 2.10 Pending tax proposals
Page 187 and 188: United Kingdom 2.2 Fiscal consolida
Page 189 and 190: United Kingdom 2.5 Fiscal stimulus
Page 191 and 192: United Kingdom 2.11 Consultations o
Page 193 and 194: United States • There is a desire
Page 195 and 196: United States 2.4 Tax policy outloo
Page 197: United States • Committee • C
Page 200: EY | Assurance | Tax | Transactions
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