The new European VAT, an obstacle for start-ups and internet-related business.

El Mundo: Regulation 1042/2013 recently implemented in Spain aims at being one of the pillars for the Spanish fiscal reform initiated by former MEP and current Minister of Finance Montoro. The new transposed Spanish law sets that specific services completed via internet to private individuals will be taxed in the country of residence of the beneficiary as from 1 January 2015. In the case of start-ups, the new law creates another levy in case of internationalization of companies in specific  circumstances. Read full article here.