30 May, 2017

BOE – Extends Period for Withdraw Application in the REDEME and Renounces the SII

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BOE extends time to apply for the withdrawal from REDEME and denounces the SII – PBS believes it is an evolution of the model 340 which can be managed with LinkUs-SII.

An extension period to apply for a registration withdraw of the monthly VAT return (REDEME) has been published in the BOE. Additionally, the VAT Immediate Information Supply (SII) has been renounced, making it now valid until June 15, 2017, with effects lasting until July 1st, 2017.

By means of the Royal Decree 529/2017 from the 26th of May, 2017, the regulation tax imposed on Value Added Tax will be modified to enable an extended renouncement period, going into effect on July 1st 2017, so that passive subjects can apply for a voluntary withdrawal of the monthly tax return and renounce the SII if they don’t want to form part of the obligated tax for the new Immediate Information Supply system.

In our opinion, we understand that there should not be an apparent motive to execute said right for something merely formal for businesses that are already accustomed to the declaration of model 340, given that the new system doesn’t cease to be an evolution of the already well-known 340.  Through our platform LinkUs-SII, we help our clients to continue exercising their right to the monthly tax return through mechanisms that simplify the obligations relative to the SII. 
 If this is your case, don’t think twice about asking us. 
Here you can find reference to all the regulations.

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