According to Royal Decree 1080/91 of July 5
The list of Spanish tax havens is established by Royal Decree 1080/91 of July 5, which lists a total of 48 offshore jurisdictions. Based initially on the OECD gray list , but incorporating some additional territories, the Spanish version has also undergone several changes since its initial publication. In fact, different countries have been withdrawn from it for having implemented transparency standards, although it is still much more extensive than the OECD list, which has now been reduced to its minimum expression. Below we present the original listing of RD 1080/91, but indicating in turn the changes that have occurred since its publication until January 2012.
List of tax havens for Spain
|Principality of Andorra*||Barbados||Mariana Islands||Hashemite Kingdom of Jordan|
|Netherlands Antilles*||Bermuda||Mauricio||Lebanese Republic|
|Aruba *||Cayman Islands||Montserrat||Republic of Liberia|
|Emirate of the State of Bahrain||Cook Islands||Republic of Nauru||Principality of Liechtenstein|
|Sultanate of Brunei||Republic of Dominica||Solomon Islands||Grand Duchy of Luxembourg|
|Republic of Cyprus||Pomegranate||Saint Vincent and the Grenadines||Macao|
|United Arab Emirates*||Fiji||St. lucia||Principality of Monaco|
|Gibraltar||Isas of Guernsey and Jersey||Rep. Of Trinidad and Tobago *||Sultanate of Oman|
|Hong Kong||Jamaica*||Turks and Caicos Islands||Republic of Panama|
|Anguilla||Republic of Malta *||Republic of Vanuatu||Republic of San Marino|
|Old and bearded||Falkland Islands||British Virgin Islands||Republic of the Seychelles|
|The Bahamas||Isle of Man||US Virgin Islands||Singapore Republic|
* Territories no longer considered as tax havens in 2012 (according to manual tax companies 2010)
* Territories with agreements published in the BOE (expected to be withdrawn in the 2011 corporation tax manual)
* Territories with agreements in process (will be withdrawn when they are ratified)
This would be the list of initial Spanish tax havens . However, within Royal Decree 1080/91 itself, article two establishes the following:
“Countries and territories […] which sign with Spain a tax information exchange agreement or an agreement to avoid double taxation with an exchange of information clause shall no longer be considered as tax havens at the time when said agreements or Agreements enter into force “.
We interpret that the entry into force of an agreement, as it applies to any other law, is from its publication in the Official State Gazette (BOE). Therefore, from the list we could eliminate those countries that already have an agreement signed and ratified in force with Spain.
According to the latest company tax manual published in January 2012 (corresponding to 2010), the following countries are no longer considered to be included in the list of Spanish tax havens (marked in yellow) : Andorra, Netherlands Antilles, Aruba, United Arab Emirates, Jamaica, Malta, Trinidad and Tobago.
In the meantime, there are already new countries that have signed agreements that provide for the exchange of information, either directly or in the framework of a double taxation agreement, and could therefore already be considered as being removed from the list of Spanish tax havens, Have already been published in the BOE. (Marked salmon): Bahamas, Barbados, Panama, Singapore and San Marino.
On the other hand, another series of offshore jurisdictions have also signed the corresponding agreements, but these have not been ratified or published in the BOE yet, which in our opinion should be considered still included in the list of Spanish tax havens (as of January 2012). Depending on the delay in the ratification process and / or publication in the BOE (territories marked in blue): Bermuda, Hong Kong, Cayman Islands, Cook Islands, Saint Vincent and the Grenadines are expected to be removed from the list in the coming months or years. Grenadines and Saint Lucia.
The updated list of double taxation agreements and tax information exchange agreements can be consulted , as well as their status on the website of the Spanish Ministry of Economy:
Double taxation agreements with tax information exchange. Http://www.meh.es/
Whether a country is considered a tax haven or not, it is relevant when applying certain anti-paradise measures. In general it affects the obligation to report specifically the operations with those territories in the declaration of income or corporation tax, at least those that exceed certain amounts per year. Certain limitations or conditions with respect to invoice discount may also apply, such as the obligation to prove that the services were actually provided or that the transactions were made at market prices. Tax havens are also generally applied to so-called ” international fiscal transparency “, By which the profits of a company are imputed directly to its owners or economic beneficiaries. However, this measure in general also affects other low taxation companies, regardless of whether they are included in the list of Spanish tax havens or not.