Government measures in key jurisdictions 3rd edition final - Flipbook - Page 120
Spain
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Exemption from any
obligation to assess and pay VAT and, where relevant, the excise tax on electricity and the excise tax
on hydrocarbons relating to bills with suspended payment, until the customer has paid them in full,
or 6 months has run from the end of the state of emergency.
Taxpayers with revenues of €600,000 or lower in
2019 will be entitled to calculate their CIT prepayments using the “tax base method” before May 20,
2020 (deadline for filing the April prepayment for these
taxpayers, due to the extension of the period approved by Royal Decree-Law 14/2020). Other taxpayers
with net revenues of €6,000,000 or lower in FY19 will be also entitled to calculate their following
prepayments (October and December, 2020) using the “tax base method”. This measure does not apply to
any tax group taxed under the special consolidated tax regime for CITpurposes.
Taking effect from January 1, 2020, a higher tax credit is available for
donations made by individuals and by non-resident income taxpayers operating in Spain without a
permanentestablishment.
An increase of the tax credit percentages has been approved for
the investments and short films are included among the investments giving entitlement to that tax credit.
Additional events and programs of exceptional public
interest have been included for the purposes of the tax regime for not-for-profit entities and on tax
incentives forpatronage.
Royal Decree-Law 19/2020 (“RD 19/2020”) states that the three month period
for preparing the financial statements will start running on June 1, 2020. Likewise, RD 19/2020 has
provided a mechanism allowing a new self-assessment to be filed until November 30, 2020 if the
approved financial statements differ from the information used in the self-assessment and filed in the
voluntary period, without any surcharges, although late-payment interest will accrue. For more
information, please visit here.
: RD 19/2020 introduces a new stamp tax exemption for deeds recording
the moratorium arrangements under previous Royal Decree-Laws.
the General Tax Law has been amended to introduce the possibility that
administration’s activities within tax application procedures may be dealt with the taxpayers through
telematics means.
: the rate of the tax credit for technological innovation activities goes from
12% to 25% for expenses in technical innovation activities resulting in a technological advancement
related to the automotive industry.
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Taxpayers may take unrestricted depreciation over investments on new tangible fixed assets made in
2020 (excluding real estate). The maximum amount of the investment that may qualify for this
depreciation regime will be € 500,000. For more information, please visit here.
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For more information, please visit: Covid-19: Key new legislation introduced in Royal Decree-Law
11/2020, Companies facing the Covid-19 crisis, and Spain interactive map for Covid-19
Government measures in key jurisdictions