The Spanish Tax Authorities (AEAT) have confirmed in the 2026 Annual Tax Control Plan that transfer pricing remains a key area of focus.
Particular attention will be given to business restructurings, the valuation of intangibles, intra-group services and royalties, related-party financial transactions, and entities reporting recurring losses.
In addition, the message from the authorities is becoming increasingly clear: formal compliance with transfer pricing documentation is no longer sufficient. In 2026, reviews will go beyond documentation and focus on the substance of arrangements, including the analysis of functions, assets and risks, as well as the alignment between documentation, the group’s operational reality and the information reported in Form 232.
In this context, it is essential for multinational groups to review not only their intercompany policies, but also the technical and economic robustness of their transfer pricing documentation, anticipating potential challenges in the event of a tax audit.
Key areas of focus for the Spanish Tax Authorities
The 2026 Annual Tax and Customs Control Plan confirms that cross-border related-party transactions will continue to be a priority for the Spanish Tax Authorities (AEAT). In an increasingly globalised and digital economy, the authorities are strengthening their oversight of multinational groups and intra-group structures.
Below are the main areas of focus for transfer pricing in 2026:
Increased scrutiny of multinational groups
The AEAT will intensify audits of large companies and tax groups, particularly those with significant cross-border transactions or complex structures that may pose risks of base erosion.Enhanced transfer pricing reviews
Related-party transactions will remain a central focus, with the AEAT relying on multiple sources of information, including:- Form 232 (related-party transactions reporting)
- Automatic exchange of information between tax authorities
- Transfer pricing documentation prepared by taxpayers
Focus on business restructurings
Greater scrutiny will be applied to intra-group restructurings, especially those involving changes in functions, assets or risks, to ensure that such transactions are appropriately valued and remunerated.Valuation of intangibles and intra-group transfers
The transfer or licensing of assets within a group—particularly intangibles such as trademarks, technology or know-how—will be closely reviewed, given the complexity involved in their valuation.Deductibility of intra-group payments
The tax authorities will pay particular attention to payments that may significantly impact the tax base, including:- Royalties for the use of intangibles
- Intra-group services
In these cases, both the actual existence of the service or asset and the appropriateness of the pricing will be assessed.
Entities with recurring losses
Companies within multinational groups reporting sustained losses will be subject to review, to assess whether their functional profile and transfer pricing policies justify such outcomes.Intra-group financial transactions
Increased scrutiny will also apply to financial transactions between related parties, including intra-group loans, financing arrangements and guarantees.Review of low-risk structures
The AEAT will continue to examine entities characterised as low-risk (such as limited-risk distributors or service providers) to ensure that their remuneration is consistent with the functions performed, assets used and risks assumed.Importance of functional analysis
The Plan highlights that transfer pricing reviews will not be limited to formal documentation. Instead, they will focus on the substance of the functional analysis to ensure that the documentation accurately reflects the economic reality of the transactions.International cooperation and dispute resolution
The AEAT will continue to actively participate in international cooperation mechanisms, including joint audits and multilateral controls. It will also promote legal certainty tools such as Advance Pricing Agreements (APAs) and Mutual Agreement Procedures (MAPs) to address double taxation issues.
The 2026 Annual Tax Control Plan highlights the growing importance of transfer pricing in the Spanish Tax Authorities’ audit strategy, particularly in a context of increasing internationalisation of business structures. The authorities are strengthening their focus on identifying tax risks linked to intra-group transactions and complex international arrangements, supported by more advanced data analysis and monitoring tools that allow for deeper and more sophisticated reviews.
