Workplace pensions with foreign funds

Similarly, art. 86 of Royal Legislative Decree 6/2004, of 29 October, approving the consolidated version of the Unified Regulation and Supervision of Private Insurance Act [hereinafter, URSPIA], provides that insurers domiciled in another Member State intending to operate in Spain under the system of free provision of services are also required to nominate a representative for tax obligation purposes referred to therein in respect of business within the Spanish territory. Such representative must comply, on behalf of the insurer, with the obligation to withhold and pay the amounts due on transactions in Spain and to disclose information to the tax authorities in a timely manner…