the new law on measures to prevent and combat tax fraud came into force, which establishes that sicavs that do not meet the requirement that each of their at least 100 partners reach a minimum investment of 2,500 euros will pass to be taxed at 25% in Corporation Tax, compared to the 1% that they currently do.

The regulatory change establishes a transitory regime during 2022 by which the dissolution and liquidation of these companies can be agreed without tax costs and defer the taxation of the profits derived from the liquidation, provided that the shareholders reinvest all of their liquidation quota in other Spanish collective investment institutions (CIIs).