The thirty-eighth edition of the Guide to Business in Spain has already been launched by ICEX-Invest in Spain. Prepared by the Garrigues law firm, it is available on the website of invest in Spain, free of charge, both in Spanish and English. The guide can be consulted online or downloaded at pdfin full or by chapters.
The publication summarizes, in almost 400 pages, the main regulatory aspects that affect investments in Spain, with special attention to the peculiarities that the Spanish legal system presents for the foreign investment on corporate, tax, labor, money laundering, public aid, financial sector, industrial and intellectual property, electronic commerce, accounting and auditing, among other regulatory aspects.
Among the novelties included this year, some stand out in tax matters, such as the extension of the deduction for investments in film productions, audiovisual series and live performances of performing arts and music, which could reach 30% of the first million base of the deduction and 25% on your excess.
Reduced rate on the electricity bill
Also, in the tax field, the guide includes another novelty such as the application of the reduced rate of 10% in the components of the electricity bill in favor of certain holders of electricity supply contracts.
Chapter IV of the guide, dedicated to exposing the main lines of subsidies and public aid of a non-tax nature available to investors in Spain, also incorporates, in this year’s 2022 edition, interesting novelties.
Among them, it is worth mentioning the approval of the new State Plan for Scientific, Technical and Innovation Research for the period 2021-2023 (PEICTI), which seeks to reinforce investment in R&D&i in sectors considered strategic after the pandemic (health, ecological transition and digitization, among others), as well as promoting the development and consolidation of the scientific career of researchers in our country.
In the same sectoral area, the publication dedicates a specific section to the Center for Industrial Technological Development (CDTI) to explain the novelties introduced in its main lines of financing and other instruments made available to companies for the financing of their R+ projects. D+i.
ICAA grants
Another novelty included in the Guide to Business in Spain 2022 is the launch of a new line of aid for cinema promoted by the Institute of Cinematography and Visual Arts (ICAA). The objective is to promote the development of laboratories and incubators for cinematographic creation, in which training and networking of professionals and companies.
Likewise, the new edition of the guide refers to the approval of the first call for the Productive Industrial Investment Support Fund (FAIIP), endowed with more than 600 million euros to jointly finance industrial development operations.
Also, in the area of aid and subsidies, the guide reports on a new measure to promote competitiveness in the pharmaceutical industry or PROFARMA Initiative 2021-2022. This is an activity aligned with the objectives of the new pharmaceutical strategy for Europe, which seeks to strengthen the manufacture of essential or strategic medicines, as well as to promote R&D&i in new antimicrobials that deal with the development of resistance to antibiotics, among other purposes.
