Spain’s Basque Country extends participation exemption regime to capital gains on transfer of shares in Spanish companies

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By Miguel Baz 

Spain’s autonomous Basque Country region has extended its participation exemption regime (applicable to foreign participations) to capital gains derived from the transfer of shares in Spanish companies (dividends were already exempted).

The Basque Country’s participation exemption regime took effect on 1 January 2014. It exempts dividends and capital gains derived from the transfer of shares in both Spanish and non-Spanish companies, provided that the following requirements are met…

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