14 July, 2011

Exportation and Recovering the VAT – PBS Welcome Solutions

By: Marcel Miró

It is common knowledge that exportation is at the forefront of the ABC of management books, even more so as the Spanish domestic market is truly weak.

However, when we export we come across an added difficulty because we have to finance the VAT borne, whenever our tax returns are negative, with it taking an average of one year to recover this.

With the disappearance of the now old exporters’ system, in which limits were placed upon the amounts on which there was entitlement to refunding, we have considerably improved our tax system with the application of the monthly VAT refund system, named REDEME in tax jargon. As a system of a voluntary nature, this offers the possibility of recovering VAT in very short periods of time (we may speak of 10 days here), especially when companies make every effort to present full, complete information to the Administration. However, as nothing in life is free, in addition to the so-well-known form 303, companies must present a form 340, which is nothing other than an electronic VAT register book, albeit with some information that had not been requested until now. When it was first introduced, few of us dared to use it and suffer certain unresolved practical aspects in tax regulations.

Nevertheless, practical experience shows us that we are always in the hands of the Tax Administration, which, ultimately, may process the refund rapidly or, on other occasions, delay it, should it deem this to be appropriate, due to reasons foreign to the VAT-refund procedure.

This is where an alternative scenario that may prevent us from having to wait for VAT refunds may be considered.

If our company commercializes products destined for the EU or for exportation and a considerable amount of our products or materials originate from third-party countries, it may be of interest for us to use the figure known as a bonded warehouse (DDA in Spanish), which is one of the existing systems in which VAT is suspended.

In the case of the bonded warehouse, there must be an importer to mediate between the exporting company and our own, which will be the one really importing the country. The importer will release the goods for free circulation and put them in the bonded warehouse for handling, with the importer thereby settling customs duties without paying the VAT on importation.

As a consumer of these materials or a trader of these products, our company will be able, following the commercial transaction with the importer, to acquire the goods located in the bonded warehouse, settling the VAT via form 380, with this VAT being offset automatically and not paid.

We live in a peninsula surrounded by strategically-located ports with which commerce may be generated in order to supply the entire European market.

Let’s be clever and take advantage of the few opportunities available to us.


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


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


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.




Please type the code below


  • 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

    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

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