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What can happen to your company if you do not file tax forms in time?

Are you aware of tax commitments  of companies in Spain? Do you know what happens if you do not file a tax or file it out of time? Learn which tax forms a company must file and which are the consequences of not filing them, or filing then too late.

Setting up a business in Spain involves assuming a series of essential commitments such as the following:

Companies’ tax returns must be filed by using a series of forms detailed in the following section.

Tax forms to be filed by a company

If you decide to set up a business in Spain, these are the tax forms  you will have to submit to the Tax Agency:

What happens if you file the tax forms out of time?

Once reviewed the main tax models to be filed, it is key to know what can happen if by mistake you do not file a tax,  file it wrongly or out of time.

In order to remedy the situation you can take the following actions:

It is essential for you to know that regularizing the situation voluntarily is quite different from waiting for the Tax Agency to require you. In this second case the consequences are worse.

Now we will review both situations:

If you file the tax forms voluntarily. The Tax Agency will be entitled to impose you a surcharge that will depend on the time you took to repay your debt.

If the Tax Agency requires you to file the tax forms. In this situation they will be allowed to make you pay for default interests and a penalty that may vary between 50% and 150% calculated over the non-deposited amount, and will depend on the type of infringement (according to the General Taxation Law)

The limitation period of these infringements will be 4 years from the moment when the infringement was committed, that is, from the moment the tax forms should have been filed.

If you do not agree with the penalty imposed by the Tax Agency, basically you can take two actions:

In some cases the return happens to be negative (there is nothing to pay as the outcome it is equal to zero or has to be repaid). In this case, a penalty for a fixed amount (€200) has to be paid.

Nevertheless, depending on the situation the penalty could be reduced or increased.

How can Leialta help you?

In order to prevent any trouble with the Tax Agency the best thing to do is hiring a tax consultancy with experience assisting foreign customers. Leialta can draft a tax schedule so you can file all the tax forms on time with no mistakes. You will reduce your tax burden and prevent inspections and penalties from the Tax Agency. Moreover, your questions will be answered within 12 hours and in English.