Spain updates its laws to match several EU directives

Automatic summary, not yet reviewed

1. It strengthens the powers of the CNMC as the competition authority: more cooperation with European authorities, new inspection and interview powers, and revised fines for competition breaches.
2. It expands the anti-money laundering law: companies exchanging virtual currency or holding digital wallets must register with the Bank of Spain, and a Register of Beneficial Owners is created at the Ministry of Justice.
3. It adapts banking rules to EU solvency and resolution directives: financial holding companies must seek approval from the Bank of Spain, and requirements on liabilities able to absorb losses are reinforced.
4. It extends the duration of rights to use the radio spectrum: a minimum of 20 years with possible extension, to give security to 5G network investments.
5. It reforms VAT on electronic commerce: new rules for distance sales and one-stop-shop special schemes, and the VAT exemption for imports under 22 euros is removed.
6. It improves the rights of workers posted to Spain: after 12 months more Spanish working conditions apply to them, and housing, travel allowances and chained postings are regulated.
7. It widens who can request the repair of environmental damage: any natural or legal person affected or likely to be affected.
8. It strengthens consumer guarantees: 3 years of liability for lack of conformity in goods, 2 years for digital content, and it regulates contracts where the consumer pays with personal data.

Who it affects

• Companies investigated for competition practices: They face broader inspections, interviews and revised fines from the CNMC.
• Crypto platforms and financial entities: They must register and meet new anti-money laundering obligations.
• E-commerce stores and platforms: New VAT rules for distance sales and one-stop-shop schemes.
• Workers posted to Spain: More Spanish labor rights apply, especially after 12 months of posting.
• Consumers: Longer warranties on purchases and protection for digital content paid with personal data.

Words worth knowing

Directiva europea (EU directive)

An EU rule that requires each member country to adapt its laws to meet a common goal.

Real decreto-ley (royal decree-law)

A rule with the force of law that the Government can pass urgently, without prior approval by Congress.

Blanqueo de capitales (money laundering)

Making money from criminal activities look legal.

Ventanilla única (one-stop shop, VAT)

A system that lets a business declare and pay VAT for several EU countries in a single return.

Titular real (beneficial owner)

The natural person who ultimately owns or controls a company or entity.

It summarizes the law as published in the BOE. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries