Spain published Law 13/2023 of 24 May 2023 in the Official Gazette on 25 May 2023, which contains various measures. One of the main measures is the introduction of new interest deduction limitation rules in line with the EU Anti-Tax Avoidance Directive (ATAD). Because Spain's current interest deduction limitation rules were considered equally effective as those in ATAD (generally, 30% of EBITDA), it was authorized to defer the transposition of the ATAD interest deduction limitation. The new rules, which apply from 1 January 2024, provide that the deduction of net interest expense is limited to 30% of EBITDA (operating profit) for the year, with the explicit exclusion of income, expenses, or rents that have not been included in the tax base. In any case, net financial expenses of the tax period amounting to EUR 1 million will be deductible. Where the deduction of net financial expenses is limited, the amount not deducted may be carried forward and deducted in the following tax periods together with the net financial expenses of the corresponding tax period, subject to the same limit. In the event that the net financial expenses of a tax period do not reach the limit, the difference may be carried forward for up to five years, effectively increasing the limit until the difference is deducted. An exemption from the interest deduction limitation rules is provided for credit institutions and insurance companies.

Law 13/2023 also provides for the implementation of Council Directive (EU) 2021/514 with regard to the exchange of information on income generated by sellers through digital platforms (DAC7). DAC7 is meant to address issues resulting from the use of digital platforms, including that income earned through digital platforms is often unreported and tax is not paid, in particular when digital platforms operate across several countries. To help address this issue, DAC7 creates an obligation for digital platform operators to report the income earned by sellers on their platforms and for EU Member States to automatically exchange this information.

Lastly, Law 13/2023 amends the rules on reportable cross-border arrangements as per Council Directive (EU) 2018/822 (DAC6) in relation to legal professional secrecy (privilege). Considering the CJEU judgment that the DAC6 requirement to notify other intermediaries in case of professional secrecy violates EU Law, Spain's implementation of DAC6 is amended to provide that an intermediary subject to professional secrecy is not required to notify other intermediaries that are not their clients. However, intermediaries subject to professional secrecy must still notify their clients.