Order HFP/115/2023, of February 9, has been published, identifying the countries and territories, as well as the detrimental tax regimes, that are considered non-cooperative jurisdictions. This new list retains countries and territories already included in Royal Decree 1080/1991 and adds the following: Barbados, Guam, Palau, American Samoa, Trinidad and Tobago, and Samoa, with respect to the detrimental tax regime (offshore business).
We would like to inform you that Spain has updated its list of tax havens, which now includes 24 countries and jurisdictions it considers "non-cooperative," according to the new internationally adopted definition. The list retains many of the territories already included in the previous version, such as Gibraltar and the Cayman Islands, excludes others, such as Liberia, and adds six new jurisdictions: Barbados, Guam, Palau, American Samoa, Trinidad and Tobago, and Samoa.
It should be remembered that the first additional provision of Law 36/2006, of November 29, on measures for the prevention of tax fraud, contains the definition of countries and territories that are considered non-cooperative jurisdictions and indicates that this consideration will be given to "countries and territories, as well as detrimental tax regimes, that are determined by the Minister of Finance by Ministerial Order.".
This mandate has been implemented through Order HFP/115/2023 (BOE, 10-02-2023), which establishes the following countries, territories and detrimental tax regimes as non-cooperative jurisdictions:
- 1. Anguilla.
2. Bahrain.
3. Barbados.
4. Bermuda.
5. Dominica.
6. Fiji.
7. Gibraltar.
8. Guam.
9. Guernsey.
10. Isle of Man.
11. Cayman Islands.
12. Falkland Islands.
13. Northern Mariana Islands.
14. Solomon Islands.
15. Turks and Caicos Islands.
16. British Virgin Islands.
17. U.S. Virgin Islands.
18. Jersey.
19. Palau.
20. Samoa, with regard to the detrimental tax regime (offshore business).
21. American Samoa.
22. Seychelles.
23. Trinidad and Tobago.
24. Vanuatu.
As can be seen in this new list, countries and territories that were already included in the list of Royal Decree 1080/1991 are maintained and, as a new addition, the following are incorporated : Barbados, Guam, Palau, American Samoa, Trinidad and Tobago and Samoa, with regard to the detrimental tax regime ( offshore business ).
The result is a list that has been significantly reduced compared to the first version, from 1991, which included 48 territories. Several of them were removed as they signed information exchange and double taxation agreements, such as Andorra and Panama. Jordan, Lebanon, the United Arab Emirates, and Hong Kong, as well as European partners like Malta, Cyprus, and Luxembourg (which was only considered a tax haven for certain types of income), which are among the main investors in and recipients of capital to and from Spain, are also no longer considered tax havens.
Transitional regime
A transitional regime is established, according to which, in relation to taxes whose tax period had not ended on February 11, 2023, the countries or territories that are considered non-cooperative jurisdictions in said tax period will be the countries or territories provided for in Royal Decree 1080/1991.
Finally, it should be noted that this rule comes into force on February 11, 2023 and will apply to taxes without a tax period accrued from February 11 onwards and to other taxes whose tax period begins from that moment, except for the new countries or territories incorporated , in which case the entry into force will occur on August 11, 2023 and will apply to taxes without a tax period accrued from its entry into force, and to other taxes whose tax period begins from that moment.
You can contact this professional office for any questions or clarifications you may have.
Warm regards,
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A Àmbit Assessor, SL has 40 years dedicated to the tax, comptable and labor consultancy of the Pime.
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