Reporting / Auditing Requirements:

Requirements exist to file return by Resident and non Residents individuals and corporations:

Individuals:

a. Taxes on Resident individuals : Tax Returns

i. Income Tax –and Gains tax – annually
ii. Wealth Tax – annually
ii. Assets owned outside Spain– annually
iv. Inheritance Tax – within 6 months of death

b. Non Resident individuals and companies

i. Deemed Income – and (benefit in-kind) annually
ii. Rental Income – Quarterly
iii. Wealth tax – annually
iv. Inheritance Tax – within 6 months of death
v. Special Corporation Tax – (Resident in Tax Havens) annually

c. Companies

i. Corporation Tax – annually
ii. Accounts – to be filed at Companies Registry – Accounts must be audited if any two out of following apply

1. Assets (ignoring liabilities) exceed EUR 2’850’000
2. Sales exceed EUR 5’700’000
3. Employees exceed 50

d. Businesses – Individuals and Companies

i. VAT – quarterly
ii. Employees (PAYE) – quarterly and
iii. Retentions withheld  + deducted by 3^rd parties – quarterly

 

Please note: The information contained in these pages is given without charge and without responsibility. It is not a substitute for proper professional advice which we shall be happy to give if so instructed.