(ATTENTION: The technical director of Gestingral, Xavier Ribas, has more information on the subject. Click here)
From 1 January 2017, the cases in which companies can request tax and/or withholding deferrals have been drastically reduced. With this measure, provided for in the Spanish government’s latest tax reform, the State seeks to have more liquidity in the short term.
One of these cases that has been suppressed (ALERT!) and that affects part of the entrepreneurs and companies that make up our region is that the taxes passed on can no longer be deferred, that is, thatthe total amount payable of the VAT settlement can no longer be deferred. At the same time, the vast majority of payments on account cannot be deferred either, nor can the payment on account of Corporation Tax.
In summary, and to simplify the matter, only the following can be deferred: Personal Income Tax (IRPF, form 100) – or split in instalments, as has also been allowed for years – the quarterly instalment payment of self-employed individuals (forms 130 and 131) and Corporation Tax (form 200).
The measure is not retroactive and, therefore, does not affect deferrals or instalments made before 1 January. It does affect, however, all payments to be made from that date, such as the fourth quarter of VAT, which must be processed during the month of January.
At Gestingral, we recommend that you approach your advice as soon as possible so that they can explain how this new tax rule affects you.
