Government measures in key jurisdictions 5th edition - Flipbook - Page 131
Spain
Tax
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Extension of the filing and payment deadline for certain tax returns and self-assessments:
This extension benefits small and medium-sized companies and the self-employed, and
relates to be filed between April 15 and May 20, 2020. It applies to taxpayers that had
revenues of Ä600,000 or lower in 2019. For taxpayers with public authority status, including
the social security authorities, their latest approved annual budget cannot go above
Ä600,000.
•
Exemption in relation to transfer and stamp tax for mortgage transactions.
•
VAT and custom duties exemption: For imports of any goods necessary for
medical treatment of individuals affected by Covid-19 and for avoiding the spread of viruses.
In addition, a 0% VAT rate is established temporarily (until April 30, 2021) for domestic
supplies, intra EU acquisitions or imports of the goods listed in the annex of the Royal DecreeLaw 15/2020, for which the customers are public entities, non-profits and hospitals.
•
Suspension of assessment of VAT and of excise taxes on electricity and on hydrocarbons
on the bills or electricity, natural gas and oil products: 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.
•
Measures in relation to the CIT prepayments: Taxpayers with revenues of Ä600,000 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 Ä6,000,000 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.
•
Tax credits for donations: 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.
•
Corporate income tax credit for investments in cinematographic productions and
audiovisual series: 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.
•
Events of exceptional public interest: Additional events and programs of exceptional
public interest have been included for the purposes of the tax regime for not-forprofit entities and on tax incentives for patronage.
•
Corporate income tax: 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.
•
New stamp tax exemption: RD 19/2020 introduces a new stamp tax exemption for deeds
recording the moratorium arrangements under previous Royal Decree-Laws.
•
Telematic tax inspections: 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.
•
Increase of tax credit for innovation and unrestricted depreciation for certain assets in the
automotive industry: 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.
Has any new
legislation been
introduced in light
of Covid-19?
Government measures in key jurisdictions
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