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The spanish courts open up the possibility of offsetting negative tax losses by rectifying tax returns

The spanish courts open up the possibility of offsetting negative tax losses by rectifying tax returns

26 February 2021

This article analyses the way opened by the Spanish Court (Audiencia Nacional) with a tax ruling of December 2020 to offset tax losses by rectifying tax returns. That ruling concludes that offsetting tax losses is not a tax option to be exercised with the submission of the tax return, but a right of the taxpayer, and that is a relevant change in the trend followed by the tax administration in the recent years.

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