Introduction
Despite the legal definition of income from economic activities contained in article 27.1 of the Personal Income Tax Law being unique, it is necessary to differentiate within them those derived from the exercise of business activities and professionals and, within the former (business activities), those of a commercial and non-commercial nature.
The importance of these distinctions lies in the different tax treatment of some income and others, in aspects as important as the subjection to withholding or payment on account, the accounting and registration obligations of the owners of said activities and the declaration separated from them. From this last perspective, the declaration model distinguishes the following types and keys of economic activities:
| Password | Type of activity |
|---|---|
| 1 | Business activities of a commercial nature |
| 2 | Agricultural and livestock activities |
| 3 | Other non-commercial business activities |
| 4 | Professional activities of an artistic or sporting nature |
| 5 | Other professional activities |