The Spanish Corporate income tax forms for fiscal year 2015 have already been approved and they will come into force on July 1st, 2016.  They are based on the same structure as in the previous years, as the accounting result is the starting point to determine the taxable result. They include quite a good number of new tax measures such as the capitalization reserve or the documentation compliance requirements in tax – related transactions.

We will still have to wait until the beginning of next month to have the computing programs fully operating in the Hacienda web page but we think it is worth going through their main features.


Tax returns filing term

 

As in the previous years, the filing deadline for companies having a financial year coinciding with the calendar year is July 25th. In the event that payment of the tax due is domiciled for direct debit in the taxpayer’s bank account, the deadline is July 20th.

Electronic filing is mandatory.

Available Forms

 

Companies subject to this tax on a stand-alone basis are obliged to use Form 200 whereas companies subject to the tax consolidation scheme must file Form 220.

Companies under the tax consolidation scheme are also obliged to file stand-alone tax returns, calculating a theoretic stand – alone tax quote although they do not have to provide exhaustive information that is already provided at a group level such as pending tax losses, tax credits, capitalization reserve, levelling reserve, tax limits to financial expenses or certain impairments.

Supplementary information – Annexes

 

Taxpayers must file supplementary information prior to the tax return filing relating to certain negative book to tax adjustments or R& D tax credits, when they are equal to or exceed 50,000.00 Euro.

In relation to tax – related transactions, companies qualifying for the small – sized taxpayers scheme (those having a turnover below 10 million €) are subject to simplified documentation requirements. Such companies can elect to file a specific tax form with the tax return in order to comply with the simplified tax –related documentation requirements.

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Publicado el 06-2016 por PBS