Rectifying deductions
The cases of rectification of deductions are:
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Incorrect determination of deductions.
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Rectification of fees passed on by:
- Incorrect determination.
- Modification of the tax base.
If the correction involves an increase in quotas , it can be made in the self-assessment of the period in which the taxpayer receives the corrective invoice or in the following declarations, provided that four years have not passed since the tax was accrued or since the circumstances determining the modification of the tax base have occurred.
If the correction is not caused by a change in the tax base, it may not be made after one year from the date the corrective invoice was issued.
If the correction involves a reduction in quotas, is mandatory and must be carried out:
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If it is due to a well-founded error in law or modification of the tax base: in the self-assessment for the period in which the corrective invoice was received.
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In the event of bankruptcy or if the taxed transaction becomes void as a result of the exercise of a bankruptcy reintegration action or other challenge actions exercised within the bankruptcy, if the initial buyer or acquirer is also in bankruptcy: in the self-assessment for the period in which the right to deduct the incurred contributions was exercised, without any surcharges or late payment interest being applied.
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If it is due to another cause: You must submit a corrective self-assessment, applying the applicable surcharge and late payment interest, according to article 27 of Law 58/2003, of December 17, General Tax Law.
The Tax Agency has added to its website a "Calculator for modification deadlines BI and other rectifications", where you can consult the deadline to modify the VATsupported deducted when the circumstances provided for in article 80 of the LIVA or an error occur. It also facilitates the period and exercise of model 303 where the corresponding adjustment can be made: https://sede.agenciatributaria.gob.es/wlpl/AVAC-CALC/CalculadoraMBIServlet
Repercussion fees | Rectification procedure | Deducted fees |
---|---|---|
Type of variation | Type of variation | |
Increase |
|
Decrease |
Decrease |
|
Increase |