MODIFICATION OF THE PAYMENT PERIOD OF THE BUSINESS TAX

 

The voluntary period of the Business Tax (I.A.E.) payment has been modified by a Resolution of the Spanish Tax Agency published yesterday (June 19^th of 2019) by the Spanish Official State Gazette. This modification affects both national and provincial rates for the financial year 2019.

The Business Tax applies to Corporations, Civil companies, entities without legal personality which constitute an economic unit (or a patrimony susceptible of taxation) and Non Residents with a permanent establishment in Spain engaged in an economic, professional or artistic activity within the Spanish territory (art. 35.4 of Law 58/2003, of December 17th, connected with art.82.1.c of Law of Local Treasuries, T.R.L.R.H.L.). Even though, taxpayers in the first 2 tax periods of the economic activity (82.1.b. of T.R.L.R.H.L.) or with a net turnover lower than 1.000.000€ are exempted.

Payment period

The payment in voluntary period for 2019 has been set from September 19^th to November 20^th of 2019, both dates being inclusive.

Form of payment

The Spanish Tax Agency shall send to the taxpayers the payment document, which has to be presented in any of the credit entities considered as “Collaborating” (entidades colaboradoras) for its payment.

In case the payment document of the Business Tax was not received, the taxpayer has to pick a duplicate up in the appropriate Tax Office for its fiscal domicile (Delegación de la A.E.A.T./ Administración de la A.E.A.T.)

 

For further information: http://www.fernandezbaladron.com

 

PENALTIES FOR CASH PAYMENTS IN AMOUNTS GREATER THAN THE ONES ALLOWED BY LAW

 

 

Since the entry into force of Law 7/2012, of 29^th October, entrepreneurs and professionals acting as such are not allowed to pay in cash transactions with an amount equal or greater than 2,500€ (or its equivalent value in foreign currency).

If the payer is a natural person who is a resident abroad and is NOT acting as an entrepreneur or as a professional, the limit shall be 15,000€.

Cash is understood as paper money, coin, bank checks and any physical or electronic means designed to be used as payment to bearer (article 34.2 of Law 10/2010, of 28^th April).

Entities intervening in the payments are obliged to keep the documentation that certifies that such operations have not been paid cash for, at least, 5 years.

In case of break of these rules, the penalty will consist of 25% of the total amount delivered in cash and will be imposed to both the PAYER and the RECEIVER.

 

For further information: http://www.fernandezbaladron.com/