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 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 to prepare the annual accounts and other legally mandatory documents, which was suspended until the state of alarm ended, will begin to run from June 1, 2020.

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

Presentation of the Corporate Tax declaration 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 17 March . (Article 12 RDL 19/2020)

Corporation Tax taxpayers whose deadline for the formulation 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 period tax 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 will be marked “ Declaration corresponding to art. 124.1 LIS without approving annual accounts” of this section.

For these purposes, available annual accounts will be understood as:

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 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 of the rules by which they are governed.

In the event that the self-assessment of the Tax that must result in accordance with the approved annual accounts differs from the one presented in the ordinary declaration period, taxpayers will submit a new self-assessment with a deadline of November 30, 2020.

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

In the event that the new declaration presented as a result of the approval of the annual accounts, is considered a complementary 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 complementary declaration, as well as the supporting document number of the previous declaration.

In addition, the keys must be completed [00619] and [00620] «Complementary: Amount deposited / refund made of the original declaration» (in the event that taxes are paid exclusively to the State or to one or more of the regional tax administrations, respectively) on page 14 bis of the model 200.

In the event that the declaration regulated in letter b) of article 12.2 of RDL 19/2020, of May 26, is presented (new declaration resulting in a greater amount to be returned or a smaller amount to be deposited), it must only be marked the already mentioned key «New declaration art. 12.2 RDL 19/2020» on page 1 of form 200, and complete the supporting document number of the previous declaration.

In addition, the keys [02311] and [02312] «New declaration art. 12.2.b) RDL 19/2020 non-complementary: amount that resulted to be entered / refund requested in the original declaration» (in the event that it is taxed exclusively to the State or to one or more of the regional tax administrations, respectively) on page 14 bis of model 200.

In the event that the new declaration is submitted outside the established deadline (November 30, 2020), this new declaration will be extemporaneous with the consequences already provided for in the General Tax Law . In this case, the code cannot be marked «New declaration art. 12.2 RDL 19/2020» on page 1 of model 200.

The new declaration, whether it has the status of complementary (due to greater income or lower refund compared to the first), as in the rest of the cases, must be presented using the approved models for the Tax declaration (form 200), being available with all its functionalities the web forms in the event that the presentation of the aforementioned new declaration is necessary.

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