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International Tax Practitioners Face New Challenges in Spain

NEWS RELEASE

Contacts:
Mark Carrington
(703) 341.5880
mcarrington@bna.com

Arlington, Va. (April 16, 2009) – In a recent BNA article, tax attorney Carlos Albiñana reported that “international tax practitioners currently face new challenges when dealing with clients, competitors, financial regulators, and, in particular, tax authorities. These challenges occur both at the domestic level in each country and at the international level as part of the ‘world of globalization’.” 

BNA’s latest analysis, Business Operations in Spain, written by Luis Briones Fernández of Baker and McKenzie, Madrid, is designed to help the practitioner face those challenges with confidence, containing information specifically written to enable U.S. and other foreign investors contemplating or conducting operations in Spain to understand Spanish commercial and tax law.

This new Portfolio, (#944-4 in BNA’s Foreign Portfolio Series) analyzes in detail the statutory and procedural framework for foreign investment in Spain, as well as general aspects of corporate law, which may help a foreign investor to choose the best investment structure. For more information on this Series, go to http://www.bnatax.com/tm/foreignincome.htm

Briones provides a detailed analysis of the Spanish income tax as it applies to individuals, corporations, and partnership-like entities, and discusses the net worth tax, the inheritance and gift tax, the value added tax, and other taxes on transactions and services. Finally, Briones includes a discussion of Spain's tax treaties, a comparative table of the withholding rates, a complete list of all Spain's tax treaties, and the full text of the Spain-United States tax treaty.

"By providing a structured analysis of Spain’s tax regime and business regulatory environment, including the implementation into Spanish law of a number of important European Union Directives, this Portfolio alerts readers to the various legal and fiscal pitfalls as well as the opportunities available to those investing in the country," said BNA Tax & Accounting senior tax analyst, Nick Webb.

A Special Consultant to BNA Tax & Accounting, Luis Briones Fernández was born in Madrid, Spain, 1954; and educated at Deusto University, Bilbao, Spain (Law Degree, 1976); ICADE, Madrid, Spain (MBA, 1978); and Harvard University, USA (LL.M. and Int. Tax Program, 1986).

About BNA Tax & Accounting
BNA Tax & Accounting is the foremost source of news, analysis, and practice tools for tax attorneys, estate planners, accountants, and corporate tax and financial accounting professionals. For more than 50 years, BNA Tax & Accounting has offered practitioners expert insights and guidance on every significant issue in tax planning and financial accounting. Written by practitioners for practitioners, BNA’s award-winning Portfolios offer topic-driven, in-depth guidance on transactions designed to help tax and accounting professionals achieve new levels of excellence and client service. Visit BNA Tax & Accounting online at www.bnatax.com.

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BNA is the leading independent publisher of print and electronic news and information for professionals in business and government. BNA produces more than 300 news services, including the highly respected Daily Labor Report, U.S. Law Week,and Daily Report for Executives. Visit BNA online at www.bna.com