New regulations for 2023

Main tax innovations introduced by Law 13/2023, of May 24, which modifies Law 58/2003, of December 17, General Tax, in transposition of Directive (EU) 2021/514 of the Council of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation, and other tax regulations

por la que se modifican la Ley 58/2003, de 17 de diciembre, General Tributaria, en transposición de la Directiva (UE) 2021/514 del Consejo de 22 de marzo de 2021, por la que se modifica la Directiva 2011/16/UE relativa a la cooperación administrativa en el ámbito de la fiscalidad, y otras normas tributarias.(BOE, 25-mayo-2023)

CORPORATION TAX

Modification of the limitation on the deductibility of financial expenses

With effects for tax periods that begin on or after January 1, 2024 , the fifth Final Provision of Law 13/2023, of May 24, modifies article 16 of the Law 27/2014, of November 27, on Corporate Tax, with the purpose of adapting it to Council Directive ( EU ) 2016/1164, of July 12, 2016. In this sense, the first section of article 16 is modified, incorporating that in the determination of the operating profit, in no case will income, expenses or income that have not been integrated into the tax base of this Tax be included.

On the other hand, section six of article 16 is modified, excluding from the non-application of the limitation provided for in said article the mortgage securitization funds, regulated by Law 19/1992, of July 7, on the Regime of Real Estate Investment Companies and Funds and on Mortgage Securitization Funds, and the asset securitization funds referred to in Additional Provision fifth.2 of Law 3/1994, of April 14.