2.5 Royal Decree-Law 19/2020 (COVID-19 Measures)

In accordance with RDL 19/2020, of May 26, which adopts complementary measures in agricultural, scientific, economic, employment and Social Security and tax matters to alleviate the effects of COVID -19 ( BOE May 27), we can highlight the following measures in the field of Corporate Tax:

Deadlines for the formulation and approval of annual accounts

Article 40 of RDL 8/2020, of March 17, is modified. (Sections three and four of the Eighth Final Provision RDL 19/2020).

It is established that the three-month period for preparing the annual accounts and other legally required documents, which was suspended until the end of the state of alarm, will begin to run from June 1, 2020.

In addition, the period established in Royal Decree-Law 8/2020, of March 17, for the ordinary general meeting to meet to approve the accounts for the previous year is reduced from three to two months, counting from the end of the period for preparing the annual accounts, so that non-listed entities must have their accounts approved before November 1, 2020.

Submission of the Corporate Tax return for taxpayers who comply, for the formulation and approval of the annual accounts for the year, with the provisions of articles 40 and 41 of RDL 8/2020, of March 17 . (Article 12 RDL 19/2020)

Corporate Tax payers whose deadline for the preparation and approval of the annual accounts for the year complies with the provisions of articles 40 and 41 of RDL will submit the tax return for the tax period corresponding to said year within the period provided for in section 1 of article 124 of Law 27/2014, of November 27, on Corporate Tax (LIS).

If at the end of this last period, the annual accounts have not been approved, the declaration will be made with the available annual accounts.

In these cases, the box “ Declaration corresponding to art. 124.1 LIS without approving annual accounts” of this section will be marked.

For these purposes, the following shall be understood as available annual accounts:

For listed public limited companies, the audited annual accounts referred to in letter a) of article 41.1 of the aforementioned RDL 8/2020.

For the rest of the taxpayers, the audited annual accounts or, failing that, the annual accounts prepared by the corresponding body, or in the absence of the latter, the available accounting kept in accordance with the provisions of the Commercial Code or with the provisions established in the regulations by which they are governed.

In the event that the self-assessment of the Tax that must be issued in accordance with the approved annual accounts differs from that submitted within the ordinary declaration period, taxpayers must submit a new self-assessment with a deadline until November 30, 2020.

In these cases, the box “ New declaration art. 12.2 RDL 19/2020” of this section must be checked and the supporting document number of the previous declaration must be completed, that is, the supporting document number of the declaration in which the key “Declaration corresponding to art. 124.1 LIS without approving annual accounts” was checked.

In the event that the new declaration submitted as a result of the approval of the annual accounts is considered a supplementary declaration (new declaration resulting in a higher amount to be paid or a lower amount to be returned), in addition to marking the key "New declaration art. 12.2 RDL 19/2020" , you must indicate on page 1 of form 200 that it is a supplementary declaration, as well as the supporting document number of the previous declaration.

In addition, keys [00619] and [00620] must be completed "Additional: Amount of income/refund made from the original declaration» (in the event that the tax is paid exclusively to the State or to one or more of the regional tax authorities, respectively) on page 14 bis of form 200.

In the event that the declaration regulated in letter b) of article 12.2 of RDL 19/2020, dated May 26, is submitted (new declaration resulting in a higher amount to be returned or a lower amount to be paid), only the aforementioned key "New declaration art. 12.2 RDL 19/2020" on page 1 of form 200 must be marked, and the supporting document number of the previous declaration must be filled in.

In addition, the keys [02311] and [02312] must be completed "New declaration art. 12.2.b) RDL 19/2020 not complementary: amount that was to be paid / refund requested in the original declaration» (in the event that the tax is paid exclusively to the State or to one or more of the regional tax authorities, respectively) on page 14 bis of form 200.

In the event that the new declaration is submitted after the established deadline (November 30, 2020), this new declaration will have the character of late with the consequences already provided for in the General Tax Law. In this case, it will not be possible to mark key "New declaration art. 12.2 RDL 19/2020" on page 1 of form 200.

The new declaration, whether it is considered complementary (due to a higher income or a lower refund compared to the first one), or in the rest of the cases, must be submitted using the approved models for the tax declaration (model 200), with the web forms being available with all their functionalities in case it is necessary to submit the aforementioned new declaration.

Remember : The new key "Declaration corresponding to art. 124.1 LIS without approving annual accounts" which is included on page 1 of form 200 for the correct application of RDL 19/2020, of May 26, will not be available as of November 30, 2020 .