One of the new measures introduced by the Order HFP/399/2017 relates to the reporting obligations of tax – related transactions with the new model 232 The Ministerial Order HFP/399/2017, just published in the Spanish Official Gazette of May 09 2017, has approved the new Corporate income tax returns applying to Spanish Corporate income tax payers for fiscal years starting as of 2016.

One of the new measures it has introduced and which deserves our attention relates to the reporting obligations of tax – related transactions which has been traditionally complied with in the annual tax returns (Form 200) and which is now switched to a new model with the aim of simplifying the administrative burden deriving from the annual tax return compliance.

✔ This obligation, mainly of an informative rather than of tax debt settlement nature, is eliminated from the annual Form 200. With effects for fiscal years starting as of January 1, 2016, this information will be supplied through a specific reporting declaration that will only be filed by taxpayers performing this type of transactions and subject to the new limits.

✔ The new reporting obligation (Form 232, still to be finally approved) is expected to include not only tax –related transactions but also:

También te puede interesar
ENGLOBALLY GROUP CONGRESS – TOWARDS EXCELLENCE IN FINANCIAL INTERNATIONALIZATION

(i) Transactions subject to a special tax – relief on income deriving from certain intangible assets; and,

(ii) information relating to transaction with tax haven territories.

The filing term will comprise from the 1st to the 31st of May of the year following that of reporting. Fiscal years starting in 2016 will be subject to a special term running from the 1st to the 30th of November.

✔ Besides the tax – related transactions of a given fiscal year exceeding a market value of 250,000.00 €, it is expected that the following tax – related transactions will need to be reported by Spanish Corporate income taxpayers:

(i) those with a tax – related person or entity of the same type and valuation method, whose overall market value exceeds 100,000.00 €.

(ii) Specific transactions whose overall value for each type of transaction exceeds 100,000.00 € even if they are subject to a different valuation method.

(iii) Irrespective of the consideration of the transaction with the same tax – related person or entity, transactions of the same nature and subject to the same valuation method, when their joint value exceeds 50% of the company’s turnover.

You might also be interested in

También te puede interesar
Late payment interest and Tax Deductibility - PBS

 


Publicado el 05-2017 por PBS