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Still thinking of moving to Spain to bask in the sun, while benefiting from our special tax regime for expats? Well, your time has finally come! You may recall that back in that glorious summer of 2021, when the pandemic restrictions were beginning to be lifted, we tried to entice you into moving to Spain to enjoy our weather and special tax regime for expats, which was about to undergo significan... Government pushes ahead with plans to strengthen UK’s cyber resilience and regulate more IT services Protecting critical services and infrastructure from cyber incidents is a key priority for legislators on both sides of the channel. We heard last month how the EU is expanding the scope of its Network and Information Systems (NIS) regime to cover new sec... Provisional agreement reached on the European Union's Carbon Border Adjustment Mechanism The Council of the European Union issued a press release on Tuesday, stating that negotiators representing the European Parliament and Council had agreed terms on which to implement a Carbon Border Adjustment Mechanism (CBAM). This agreement concludes 18 ... Italy to tax non-residents on indirect sales of Italian real estate held through foreign entities Under the current legislation, Italy taxes non-resident entities only on capital gains derived from a direct sale of Italian immovable property or from a direct sale of participations in Italian companies (including real estate companies). The 2023 budget... UK Government Scraps Controversial Proposals to Tackle Legal but Harmful Content Online The UK government has confirmed that it is abandoning controversial provisions in its Online Safety Bill to make tech firms take down legal but harmful material accessed by adults. Protections for children remain unchanged, and other new protections for a... Carried-Interest Income earned by Spanish Tax Residents: Beware! You may qualify for a 50% Income Tax Rebate! On 1 December 2022, the new so-called “Start-up Law” was passed by the Spanish Parliament. The Law aims to foster the start-up ecosystem in Spain establishing a specific regulatory framework that supports the creation and growth of start-ups. Additional i... Fundraising during rockier times – key takeaways During a recent panel session moderated by Slaughter and May for late-stage UK start-ups, titled ‘Fundraising during rockier times’, we came away feeling a bit more positive about the ‘rockier times’ than we might have been before. If you are a tech start... New double taxation agreement between the UK and Brazil In September 2022, Brazil and the UK announced a first round of negotiations for a double taxation agreement (DTA) following several years of discussions on technical and policy issues. It appears that the formal negotiations progressed well, given that a... CRR amendments under the 'Daisy Chain' Regulation - The treatment of third country subsidiaries' surpluses for resolution purposes Regulation (EU) 2022/2036 came into force on 14 November 2022 and makes targeted amendments to the Capital Requirements Regulation (575/2013/EU) (CRR) and consequential amendments to the Banking Recovery and Resolution Directive (2014/59/EU) (BRRD) to imp... EU expands scope of its cyber rules as NIS 2 agreed The EU has agreed changes to its cybersecurity rules. On 22 November 2022, the “NIS 2 Directive” received approval from the European Parliament. Yesterday, the text was also adopted by the Council of the EU, clearing the path for this to become law. What ...