Royal Decree-Law (RDL) 8/2020, of March 17, established an exceptional extension of the deadlines for drawing up and approval of the Annual Accounts due to COVID-19. Now, the recent RDL 19/2020, of May 26, has modified these deadlines establishing the following: – The deadline for drawing up the Annual Accounts is suspended until June 1,… Filing the Corporate Income Tax return for tax year 2019 weiterlesen
Autor: Fèlix Castells
Tax on Non-Productive Assets
The tax return (tax form 540) of the new tax on non-productive assets of legal entities (IANP) must be filed between October 1 and November 30 of 2019, for tax years 2017, 2018 and 2019. Starting next year 2020, form 540 must be filed from June 1 to June 30 of each year. The purpose… Tax on Non-Productive Assets weiterlesen
Interposition of companies by private individuals
The Spanish Tax Agency, through its Annual Tax Control Plans, is paying special attention to monitoring the tax risks related to the interposition of companies by private individuals in the process of invoicing personal revenue due to the development of a professional activity. Moreover, it is also keeping track of the risks derived from holding… Interposition of companies by private individuals weiterlesen
Exemptions for capital gain on Personal Income Tax for people over 65
If you are close to turning 65 and plan to sell your home, you would be wise to wait until you reach that age because the capital gain generated by this sale is exempt from Personal Income Tax. Note that if the home belongs to more than one owner, the exemption from capital gain only… Exemptions for capital gain on Personal Income Tax for people over 65 weiterlesen
Income Tax Return 2017
The deadline for the presentation of the Income Tax Return for 2017 began last April and will end on July 2, 2018, although for income with direct debit payments the deadline will finish on June 27, 2018. All individuals with tax residency in Spain who receive any type of income are required to present the… Income Tax Return 2017 weiterlesen
Lease of property for tourism purposes
At the beginning of March, the Draft Ordinance was published, approving the new Tax Form 179 entitled “Quarterly tax declaration regarding lease of property for tourist use”, establishing the conditions and the procedure for Form 179 to be presented to the Spanish Tax Authorities (STA). This new obligation to disclose information on lease of property… Lease of property for tourism purposes weiterlesen