The tax management of companies is becoming increasingly complex, especially when it comes to related-party transactions. Recently, the Central Economic-Administrative Court (TEAC) has issued a key ruling that changes the tax treatment of services provided by directors on behalf of related companies. This ruling not only introduces new requirements but also forces companies to rethink
At this time of year, most companies are awaiting the deadlines set by the Tax Agency to submit certain tax obligations. This is undoubtedly a key time to carry out an in-depth review of the accounts and to balance them. In this sense, companies with year-end date on December 23rd, 2023 have until July, 25th
The Directorate-General of Taxes (DGT) and the Tax Agency (AEAT) have announced significant changes to the rules on the communication of information on international tax planning. In Spain, these adjustments, set out in DGT AEAT Resolution 8-5-24, were published last week in the Official State Gazette (BOE) (17-5-24). The European DAC6 regulation requires countries to
Corporate Income Tax is crucial in the fiscal management of companies in Spain. It is a fundamental tax that is levied on the profits obtained by companies and other legal entities in this country. Given that the deadline for submitting the instalments for this tax is the 22nd of April, in this alert we will
In the complex international tax landscape, Form 720 is a mandatory informative declaration for tax residents in Spain who own assets abroad and meet certain requirements. This declaration requires detailed disclosure of assets such as bank accounts, investments and properties outside the country. Who must submit Form 720 in Spain? On the one hand, the
Knowing and complying with the Non-Financial Disclosure Statement (NFS) is essential for companies committed to transparency and social responsibility. Because of this, Leialta will share with you some key details to ensure compliance with the NFS in Spain. What is the NFS, and who is obliged to submit it? The Statement of Non-Financial Information (EINF in
Suppose your company is taxed by the Economic Activities Tax (EAT), and you have reduced your activity. In that case, it is necessary to check whether the amount of this tax can be reduced. For example, if you have sold machinery or changed premises for a lower amount, this will affect the calculation of the
If your company rewards employees by giving them shares or units of your own or another company in the same group free of charge or at a reduced price, you have to show in the payroll payment in kind. The amount to be reflected is the difference between the market value of the shares
If you and your partners agree to liquidate your partnership and divide the assets, the partnership must charge VAT on the assets that have been sold. If you cannot deduct this tax, you will incur a tax cost that can be very high, depending on the value of the assets. But there are two options
If a customer stops paying you an invoice one year after the accrual of the transaction, you can take steps to recover the VAT charged (if your company’s annual turnover is less than 6,010,121.04 euros, you only have to wait six months to start these steps). In both cases, you have six months to complete
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