Special case: entities resident in countries or territories classified as tax havens or zero taxation

Regulations: Art. 91.13 of Law IRPF

When the participating entity is a resident of countries or territories considered tax havens or in a country or territory with zero taxation, it will be presumed, unless proven otherwise, that the following circumstances occur:

1. That the taxation of the non-resident entity on the income subject to inclusion is less than 75% of the amount that would have corresponded to the same income by applying the rules of the Spanish Corporate Tax.
2. That the entity is the producer of the income listed in letters a), b), c), d), e), f) and g) of the heading "Income obtained from entities that carry out economic activities" within the section " Content of the regime and time of imputation ", so they must be understood as imputable.

3. That the income obtained by the participating entity is 15% of the acquisition value of the participation.

See in this regard the definition of tax haven, zero taxation and effective exchange of tax information contained in the First Additional Provision of Law 36/2006, of November 29, on measures to prevent tax fraud and discussed in " List of countries and territories classified by regulation as tax havens " within the section dedicated to "Imputation of income by partners or participants in collective investment institutions established in tax havens" in this Chapter.