Article 28B - Limitation of Benefit - Spain

1 [ARTICLE 28B LIMITATION OF BENEFIT 1. The Contracting States declare that their domestic rules and procedures with respect to the abuses of law (including tax treaties) may be applied to the treatment of such abuses. 2. It is understood that the benefits under this Convention shall not be granted to a person, which is not the beneficial owner of the items of income derived from the other Contracting State. 3. This Convention does not prevent Contracting States to apply domestic Controlled Foreign Corporation (CFC) rules. 4. Benefits under this Convention shall not be available to a resident of a Contracting State, or with respect to any transaction undertaken by such a resident, if the main purpose or one of the main purposes of the creation, existence, incorporation, registration or presence of such a resident or of the transaction undertaken by him, was to obtain benefits under this Convention that would not otherwise be available. ] ************ NOTES:- 1 . Inserted vide Notification No. 58/2019 dated 27-08-2019