
Tax Debate in Spain: Management Commissions of German Investment Funds
The Spanish branch of BNP Paribas Real Estate Investment Management Germany has become the protagonist of a sentence that promises to mark a before and after in the taxation of permanent establishments for this type of entity in Spain. In its ruling of 21 November 2024, the Spanish National Court (Audiencia Nacional) rejected the appeal lodged by the entity, confirming that the Spanish branch – due to its clear link to the activity of managing real estate funds – must pay the taxes for the commissions received for its activity in Spain, and not in Germany.