Spain
Cash-Pooling Agreements and the Tax Discussions
December 1, 2025
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SubscribeThis article dissects a recent judgment by Spain’s Supreme Court on cash pooling, clarifying the rationale leading to the Court rejecting asymmetric interest rates under the arm’s length principle and how it may impact treasury and transfer pricing models. It also sets Spain’s stance against a diverging recent Portuguese CAAD decision to demonstrate that there is no "one-size-fits-all" solution to cash pools.
Readers will find practical takeaways and a clear view of the key issues the Spain’s Supreme Court leaves unresolved.
See complete article at: International Transfer Pricing Journal (IBFD). 2026 (Volume 33), No. 1.
December 1, 2025
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