Global BCM Tax Newsflash

December 2013
Spain allows for the conversion of DTAs into effective tax credits, improving banks’ capital positions

New tax rules should allow banks not to be required to deduct certain deferred tax assets (“DTAs”) from Core Equity Tier 1 (“CET 1”) under EU Regulation 575/2013 of 26 June 2013 (“Capital Requirements Regulation” or “CRR”).