On 5 August 2015, the Spanish government issued the 2016 Budget. The main tax related measure of the budget is amending the country's patent box regime to be in line with the modified nexus approach developed under Action 5 of the OECD BEPS Project.
Under Spain's current patent box regime, taxpayers are allowed a 60% tax exemption on net income after amortization derived from granting the rights to use qualified IP and on capital gains from the sale of qualified IP to unrelated parties. Cond…