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In Europe

Spain: Transposition of DAC 6

by and 4 Mins Read

Spain has published the Law transposing Directive DAC 6, which will come into force on 31 December. However, in line with EU legislation, it provides for a transitional regime for arrangements for which the first stage of implementation took place between 25 June 2018 and 30 June 2020. In addition, it also applies to cross-border arrangements that have been subject to the obligation (not just to implementation) from 1 July 2020.

Implementing legislation is yet to be published, but it is expected soon, when a number of administrative reports on these rules are finalized.

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In Europe

Spain: Spanish regulator issues new regulation on advertising of investment products and services

by 4 Mins Read

The recent publication of Circular 2/2020, of the National Securities Market Commission (“CNMV”) on the advertising of investment products and services (“Circular 2/2020”) on November 13, 2020 includes new  rules in terms of advertising of investment products, adding clarifications that go beyond the MiFID package. These new rules affect not only Spanish entities but also foreign financial institutions providing services in Spain under freedom to provide services or right of establishment, including branches and agents.

In Europe

International: VAT and e-Commerce transactions

by , , and 1 Min Read

Baker McKenzie’s VAT/Indirect Tax Practice presented “e-Commerce”, on 28 October 2020. This was the seventh presentation in the International VAT Conference Webinar Series, a global webinar series designed for VAT specialists from all industry sectors that aims to discuss the latest developing trends and hot topics in the VAT/goods and services tax (GST) and customs arena.

In Europe

Spain: The Tax on Certain Digital Services will be applicable as of Q1 2021

by , , and 5 Mins Read

Today, the Digital Services Tax Act (“the new tax”) was published in Spain’s Official State Gazette and it will enter into force on 16 January 2021. Under this law, digital services for online advertising, online intermediation and data transfers will be subject to taxation in Spain as of 2021.

In CSR

Spain: The New Provisions Governing Equality Plans, Transparency and Equal Pay in Spain

by , , and 3 Mins Read

Royal Decrees 901/2020 and 902/2020, both dated 13 October and published in the Spanish State Gazette (“BOE”) on 14 October, are basically aimed at the regulatory implementation of the new provisions on equality plans, transparency and equal pay contained in Royal Decree Law 6/2019, dated 1 March, on urgent measures to ensure equal treatment and opportunities for women and men in employment and occupation. These two decrees complement each other.

The new regulations are a product of the agreement reached by the Ministry of Labour and Social Economy, the Ministry of Equality and the most representative national trade unions, “Comisiones Obreras” and “Unión General de Trabajadores”.

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In Employment

Spain: COVID-19 – New support measures for temporary redundancy schemes in Spain

by , and 2 Mins Read

The impending end, on 30 September, of temporary redundancy schemes (ERTEs) based on COVID-19 force majeure as well as the support measures for these schemes prompted the government to pass, in extremis, Royal Decree Law 30/2020, of 29 September, on social measures to protect employment, pursuant to which a range of measures are adopted to ensure that existing ERTEs are extended and new ones approved if circumstances justify them. The regulation is based on Social Agreement to Protect Employment III, which was reached by the government, trade unions and companies. It will enter into force on 30 September 2020.

In Anti-Corruption

Spain and United Kingdom: Cross-border Criminal Evidence Gathering – The use of European Investigations Orders in Spain and England & Wales

by and 14 Mins Read

The last 10 to 15 years has seen a significant increase in criminal enforcement against companies, and an increase in co-operation between states when investigating and prosecuting corporate crime. As a result, multi-jurisdictional companies (and their employees) are at greater risk than ever of becoming involved in a criminal investigation, whether as a suspect or a witness. It is therefore important that companies and their employees are aware of the process that will be followed if they are required to provide evidence as part of a criminal investigation, and how best to prepare for that process.

In Covid-19

EMEA: COVID-19 Life Sciences Survey (Updated)

by 2 Mins Read

As COVID-19 rapidly spreads to every corner of the globe and is officially declared a pandemic, governments across the world are adopting emergency measures to fight against this extraordinary situation. Ultimately, all these measures are aimed at protecting the health and wellbeing of citizens. However, on the healthcare and life sciences front in particular, such measures range from intervention powers to guarantee adequate supplies of treatment and medical equipment, to the relaxation of deadlines and regulatory requirements to simplify administrative procedures wherever possible, so that competent authorities, manufacturers and other actors can focus on urgent priorities related to the COVID-19 crisis.

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