STORIES

25 September, 2017

3 tax changes for 2018 to keep in mind in Spain

Share This:

Despite it is too early to conclude on most of these changes up until the texts are definitive, it is strongly recommendable that the final texts resolve the recurring problems that taxpayers face when complying with taxes.

The end of our holydays reminds us of several developments of tax changes, whose evolution is worth knowing well in advance. The deadline for the accomplishment of formal reporting obligations may enter into force imminently, in January 2018. A future harmonization of the taxes currently transferred to the Spanish regions (Comunidades Autónomas), such as Inheritance or Wealth tax is currently under study.

With respect to this latter change, on July 26 a report prepared by an Experts’ Committee was presented to the Spanish Government so that it can analyse it and determine which of its proposals may finally be adopted by the Spanish tax system.

✔ A Ministerial Order in draft anticipates the filing deadline of several tax returns to the month of January, such as the following ones affecting a greater number of taxpayers:

  • Form 184 (Annual tax return for companies qualified as flow through entities); and,
  • Form 347 (Annual tax return of transactions with third parties).

It is expected that this change will affect fiscal year 2017, and that these tax returns will need to be filed in January 2018. These changes are based on the need to standardize the filing period for the reporting tax returns and improve the quality of fiscal data. However, there are several reporting obligations already coinciding in the month of January of each year. Hence, this change would concentrate in excess the taxpayers’ obligations at the beginning of the year.

✔ Another change still in draft relates to the change of the VAT rules, to facilitate the adoption of the new SII system for the electronic keeping of the VAT Registry books. Such would be the case of the authorization, by the Spanish Tax Office, to eliminate part of the information that is currently mandatory to be kept in the VAT registry books or to facilitate invoices’ summary registries when the administrative or commercial practices within a certain business segment justify it.

✔ Last but not least, there could be changes on the horizon as a result of the Experts’ Report on the Regional financing model that recommends, after analysing the taxes transferred to the Spanish Comunidades Autónomas:

  • Harmonizing the taxable basis of such taxes, limiting the regulatory powers of the regions to the tax rates as well as to tax credits or reliefs;
  • Updating the rules of certain taxes and establishing exemptions State wide, in the area of Inheritance and Wealth tax.

Despite it is too early to conclude on most of these changes up until the texts are definitive, it is strongly recommendable that the final texts resolve the recurring problems that taxpayers face when complying with taxes.

Share This:

CONTACT

MADRID
Pedro Teixeira 8, planta 4ª, 28020
T+34 91 192 21 22

MAP

BARCELONA
General Mitre 28-30 08017.
T+34 93 363 65 10

MAP

Based in Barcelona and Madrid. Englobally is our Latin American business partner established in Santiago de Chile.

We are also part of Englobally Group, an international association of independent accounting and advisory firms that provide a one-stop shop managed solution for accounting, payroll and HR needs, with member firms in over 25 countries and associates working in many others. Many fast growing technology and lifescience businesses find their international services invaluable. Companies in many other sectors are attracted by the close and supportive way Englobally Group works.

Name

E-mail

Message

Please type the code below

captcha

  • Este sitio web utiliza Cookies de terceros y de análisis, para recopilar información con la finalidad de mejorar nuestros servicios, así como para analizar sus hábitos de navegación. Si continúas navegando, supone que aceptas expresamente la instalación de las mismas. Tienes la posibilidad de configurar tu navegador pudiendo, si así lo deseas, impedir que sean instaladas en tu dispositivo, aunque deberás tener en cuenta que dicha acción podrá ocasionar dificultades de navegación de la página web.

  • De conformidad con lo establecido en la normativa vigente en materia de Protección de Datos de Carácter Personal, le informamos que sus datos serán incorporados al sistema de tratamiento titularidad de PROFESSIONAL BOOKKEEPING SERVICES S.L. con CIF B59830638 y domicilio social sito en RONDA DEL GENERAL MITRE 28 08017, BARCELONA, con la finalidad de atender sus consultas. En cumplimiento con la normativa vigente, PROFESSIONAL BOOKKEEPING SERVICES S.L. le informa que sus datos serán conservados durante el plazo estrictamente necesario para cumplir con las acciones mencionadas con anterioridad.

    Salvo comunicación contraria por su parte, entenderemos que sus datos no han sido modificados, que usted se compromete a notificarnos cualquier variación respecto de los mismos, y que usted da su expreso consentimiento para que PROFESSIONAL BOOKKEEPING SERVICES, S.L. utilice los mencionados datos para las finalidades mencionadas.

    PROFESSIONAL BOOKKEEPING SERVICES S.L. le informa que procederá a tratar los datos de manera lícita, leal, transparente, adecuada, pertinente, limitada, exacta y actualizada. Es por ello que PROFESSIONAL BOOKKEEPING SERVICES S.L. se compromete a adoptar todas las medidas razonables para que estos datos se supriman o rectifiquen sin dilación cuando sean inexactos.

    De acuerdo con los derechos que le confiere la normativa vigente en materia de protección de datos podrá ejercer los derechos de acceso, rectificación, limitación de tratamiento, supresión, portabilidad y oposición al tratamiento de sus datos de carácter personal, así como del consentimiento prestado para el tratamiento de los mismos, dirigiendo su petición a la dirección postal indicada más arriba o al correo electrónico info@pbs.es.

    Podrá dirigirse a la Autoridad de Control competente para presentarla reclamación que considere oportuna.

    El envío de estos datos, implica la expresa aceptación de esta cláusula.

  • Pursuant to current Personal Data Protection Regulations, you are hereby informed that your data will be included in a processing system owned by PROFESSIONAL BOOKKEEPING SERVICES S.L. with Tax ID No. B59830638, with its registered address at RONDA DEL GENERAL MITRE 28, 08017 BARCELONA (SPAIN), in order to deal with your questions and requests. In compliance with current regulations, PROFESSIONAL BOOKKEEPING SERVICES S.L. hereby informs you that your data will be kept for as long as is strictly necessary to complete the aforementioned action.

     

    Unless otherwise stated, we will consider that your data have not been modified, that you undertake to inform us of any modifications thereto, and that you give your express consent for PROFESSIONAL BOOKKEEPING SERVICES, S.L. to use said data for the specified purposes.

     

    PROFESSIONAL BOOKKEEPING SERVICES S.L. informs you that it will proceed to process your data in a lawful, loyal, suitable, relevant, limited, exact and updated manner. Therefore, PROFESSIONAL BOOKKEEPING SERVICES S.L. undertakes to apply all reasonable measures to ensure that any incorrect data are deleted or corrected without delay.

     

    According to the rights granted to you under current data protection regulations, you will be entitled to exercise your rights of access, rectification, limitation on processing, suppression, portability or opposition regarding the processing of your personal data and your consent to the same, by addressing a written request to the postal address provided above or to the email address info@pbs.es.

    By sending these data, you are expressly accepting this clause.