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Questions about corporate taxes in Spain
It is a tax that must be borne by legal persons (commercial companies, foundations, associations, investment or pension funds, participation accounts, etc.).
The general rule is that this tax is calculated from the accounting result (income obtained from economic activity once the expense generated by it has been deducted). The tax rate of the tax is applied to this amount, what will give us as a result the quota. From there, it will correspond to apply the relevant deductions and bonuses.
The amount depends on the type of company. The general tax rate is 25%, although there are higher rates such as 30% (for financial entities or hydrocarbon companies) and lower rates (such as 15% for newly created entities).
The fiscal year cannot exceed 12 months and usually coincides with the natural year. In the event that you wish to alter this rule, it must be clearly specified in your company constitution statutes.
Within the semester following the closing of the fiscal year, the shareholders must meet to approve or reject the corporate accounts. The annual accounts must faithfully reflect the financial situation of the company, and will be deposited in the corresponding Commercial Registry.
Once 6 months have elapsed since the company’s fiscal year closed, you will have 25 calendar days to file the return and pay the resulting tax. Thus, if the fiscal year was from January 1 to December 31, 2019, the date to carry out this procedure will include the first 25 days of July 2020.
Yes, they are held in April, October and December. Its amount will be, as a general rule, 18% of the tax quota obtained in the previous financial year, with the company being able to opt for other different calculation systems according to the law.
Certain operations entail, for Spanish law, the inclusion of the company in the special regime. Examples of this are business groups that carry out tax consolidation, corporate transformations (such as mergers and splits), companies that have as their object the rental of homes or those of small size.