EU: Spain.

COURT of Justice of the European Communities ; MARKS & Spencer PLC

Analyzes the possible impact of the decision of the European Court of Justice in the Marks & Spencer group relief case on taxation in Spain. Prohibition of resident groups of companies from taking into account losses incurred by a non-resident subsidiary under the Spanish law; Right of the Spanish member of a tax group holding the participations in the non-resident subsidiary that is incurring losses; Information on amendments on Spanish tax law needed to conform to the prohibition of granting relief for the losses of foreign subsidiaries to Spanish groups.