|International Tax Rules||19||74.89|
Spain ranks 23rd overall on the 2019 International Tax Competitiveness Index, four places better than in 2018.
- Spain provides for net operating losses to be carried forward indefinitely, allowing for corporations to be taxed on their average profitability.
- Spain has a territorial tax system that exempts both foreign dividends and capital gains income from taxation.
- The Spanish tax treaty network is made up of 93 countries.
- The VAT of 21 percent applies to less than half of the potential tax base.
- Spain has multiple distortionary property taxes with separate levies on real estate, net wealth, and estates.
- Spain has both a patent box and a credit for Research and Development.