Archive for category: Fiscal

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2020 Income and Wealth Tax Campaign

The Personal Income Tax and Wealth Tax campaign for 2020 began on 7 April and will continue until 30 June. The deadline for filing Personal Income Tax (IRPF) and Wealth Tax (IP) is 30 June. In the event that the tax…

Tax planning considered aggressive: New formal obligation

The regulatory development of the new obligation has recently been approved, which is aimed at controlling those mechanisms used to reduce the tax cost derived from international operations that may be considered risky. Royal…

Reinvestment in primary residence in a house under construction

The Supreme Court allows the application of the personal income tax exemption on the capital gain obtained from the sale of the primary residence, provided that the reinvestment is made within two years of the sale, regardless…
Recuperación del IVA en facturas impagadas

Recovery of VAT on unpaid invoices

In view of the possible increase in late payments in the coming months, it is worth remembering that there is a specific procedure for recovering the VAT charged on unpaid invoices from the Tax Authorities. The current…

The deductibility of late-payment interest for corporate income tax purposes

In a recent ruling, the Supreme Court has established the criterion that late payment interest is considered a tax-deductible expense for corporate income tax purposes The Supreme Court, in its Ruling 150/2021 of 8…

Tax Control Plan for 2021

The Tax Agency's Annual Tax and Customs Control Plan for 2021 includes the main lines of action for preventing and combating fraud to be carried out by the Tax Administration On 1 February, the Resolution approving…

Interest on late payment is not taxable for personal income tax purposes

A recent Supreme Court ruling has ruled that there can be no personal income tax liability for late payment interest paid by the tax authorities to a taxpayer. Indeed, the recent ruling of 3 December (appeal 1651/2020)…

Annual Declaration of Transactions with Third Parties: Form 347

In order to facilitate the filing of the declaration of transactions carried out with third parties whose annual amount with the same person or entity exceeds 3,005.06 Euros (VAT included), Form 347, which must be filed until…

Measures adopted at the end of the year against the effects of COVID-19

At the end of December 2020, the Government approved a series of new tax measures to mitigate the economic effects of COVID-19 and to support the tourism, hotel and catering and commerce sector. On 22 December 2020, Royal…
LPGE 2021

Fiscal measures approved by the LPGE 2021

On 31 December last, the General State Budget Law for 2021 (LPGE ) was published, which approves various tax regulations, most of which are aimed at increasing taxation. The new legislation contained in Law 11/2021, of…

The near-term tax effects of BREXIT

As of 1 January 2021, the United Kingdom's exit from the European Union will take place, following the end of the transitional period. As the date for the United Kingdom's withdrawal from the European Union approaches,…

The new indirect taxes for 2021

Two new taxes, the Financial Transaction Tax and the Tax on Certain Digital Services for large companies, will apply from 16 January 2021 On 16 October, the BOE published the application of two new taxes in the Official…

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