THE COMMISSION APPROVES A NEW SPANISH SCHEME FOR THE EARLY DEPRECIATION OF ASSETS ACQUIRED VIA FINANCE LEASES
- Nov 21, 2012
- By admin
- In Construcción Naval, Legal
- 1 Comment
The European Commission has ruled that the new Spanish system for the early depreciation of the cost of certain assets acquired through finance leasing does not constitute state aid under EU rules, inter alia because it is not selective.
Joaquín Almunia, Commission Vice-President in charge of competition policy, said: “Following a long discussion, we have been able to approve a new finance lease scheme that is compatible with EU state aid rules on the basis of the latest proposals submitted by the Spanish authorities. This new, non-selective scheme will, in particular, make it possible to address the concerns of the Spanish shipbuilding sector without distorting competition in the EU Single Market”.
The scheme notified by the Spanish authorities makes it possible to deduct for tax purposes the cost of certain assets acquired through leasing as soon as their production begins, without having to wait for them to enter into commercial use. It therefore adds to the possibility already available to Spanish taxpayers of accelerating the deduction of such costs by reference to the payments made under a leasing contract.
The Commission’s investigation showed that the scheme does not constitute state aid under EU rules, since it does not favour some undertakings over others. The scheme applies to all types of tangible capital assets acquired through leasing, provided they are manufactured according to the purchaser’s technical specifications (goods which can be mass-produced are therefore excluded) and that it takes at least a year to produce them. Goods produce outside Spain are eligible in the same way as those produced in Spain. The measure is, furthermore, automatic and not subject to prior approval by the tax authorities.
Background
The previous version of the scheme for early depreciation of assets acquired through leasing is one of the tax measures, referred to collectively as the ‘Spanish Tax Lease System’ or Sistema Español de Arrendamiento Fiscal, which are currently the subject of an in-depth investigation by the Commission. The decision adopted today authorises application of the new early depreciation measure in the future. This decision is without prejudice to the conclusions the Commission may draw concerning the compatibility of the earlier version of the scheme.
Good news for Zamakona Yards and the shipbuilding sector in Spain.
Source: European Commission
1 Comment
Leave a Reply to free work from home opportunities Cancel Reply
Suscribir al Newsletter
Buscar
Categorías
- Conferencia y Exhibición (14)
- Construcción Naval (59)
- Energías Renovables (2)
- Ferias (4)
- Fishing vessels (1)
- Formación (3)
- Las Palmas Port (20)
- Legal (4)
- Offshore (16)
- Otros (7)
- Pesca (1)
- Petróleo y Gas (6)
- Puerto de Bilbao (10)
- Puerto de Pasajes (3)
- Reparación Naval (39)
- Seguridad Laboral y Calidad (6)
- Sin categoría (9)
- Zamakona Yards (96)
Tags
Archivos
- mayo 2023 (4)
- marzo 2022 (1)
- noviembre 2021 (1)
- mayo 2021 (3)
- enero 2021 (1)
- septiembre 2020 (1)
- agosto 2020 (1)
- junio 2020 (3)
- mayo 2020 (1)
- marzo 2020 (1)
- febrero 2020 (1)
- noviembre 2019 (1)
- mayo 2019 (3)
- diciembre 2018 (1)
- octubre 2018 (1)
- junio 2018 (2)
- mayo 2018 (1)
- abril 2018 (1)
- marzo 2018 (1)
- abril 2017 (1)
- marzo 2017 (1)
- febrero 2017 (3)
- enero 2017 (1)
- diciembre 2016 (1)
- septiembre 2016 (1)
- mayo 2016 (1)
- marzo 2016 (1)
- febrero 2016 (1)
- enero 2016 (1)
- diciembre 2015 (2)
- noviembre 2015 (2)
- septiembre 2015 (1)
- agosto 2015 (1)
- julio 2015 (1)
- junio 2015 (3)
- mayo 2015 (2)
- abril 2015 (4)
- marzo 2015 (5)
- febrero 2015 (4)
- enero 2015 (3)
- diciembre 2014 (1)
- noviembre 2014 (2)
- octubre 2014 (3)
- septiembre 2014 (3)
- agosto 2014 (3)
- junio 2014 (1)
- mayo 2014 (1)
- abril 2014 (2)
- marzo 2014 (3)
- febrero 2014 (1)
- enero 2014 (4)
- noviembre 2013 (3)
- octubre 2013 (3)
- septiembre 2013 (2)
- agosto 2013 (4)
- julio 2013 (3)
- junio 2013 (3)
- mayo 2013 (6)
- abril 2013 (3)
- marzo 2013 (2)
- febrero 2013 (3)
- enero 2013 (1)
- diciembre 2012 (4)
- noviembre 2012 (4)
- octubre 2012 (7)
- septiembre 2012 (4)
- agosto 2012 (4)
- julio 2012 (3)
Well I truly liked reading it. This information provided by you is very useful for proper planning.