STORIES

18 July, 2013

Spanish Corporation tax rules, tricks & tips, (I) Spanish Corporation tax rules, tricks & tips, (I)



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By PBS corporate tax team

The Spanish Corporate income tax compliance season for companies having a fiscal year coinciding with the calendar year is on.

Here at PBS we would like to remind you of some of the tax measures affecting the calculation of the taxable base, applying in fiscal year 2012, that you cannot forget while preparing your annual return.

Goodwill and intangible assets’ amortization

It is temporarily subject to a maximum percentage of 1% on goodwill, while 2% applies on intangible assets having an indefinite useful life, (i.e., trademarks).

Tax-free depreciation

As of March 31st 2012, tax-free depreciation on tangible assets and real estate investments is eliminated. A transitory system allowing tax-free depreciation is provided for investments up until March 30th , 2012. Do not miss the opportunity to check whether you can still apply this transitory system.

Limitation on the offset of tax losses carried forward

Taxpayers having a turnover in between 20 to 60 million € can offset their pending tax losses up to 50% of the taxable base previous to the compensation. Such limit is reduced to 25% for companies having a turnover equal to or exceeding 60 million €.

Tax losses extension

The term to apply tax losses pending application on January 1st, 2012 is extended to 18 years.

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