Tax Management

Business owners or professionals covered by the simplified regime will have to submit the following self-assessments:

1. Self-assessments:

   • The self-assessments corresponding to the first three quarters will be submitted during the first twenty days of the months of April, July and October, in the model 303.

     In these three self-assessments, payments will be made on account of the simplified regime quota, as well as the settlement of the operations indicated in article 123, section one, letter B, of the VAT Law (intra-community acquisitions, reversal of the taxable person and transfer and acquisition of fixed assets), if the settlement of such operations has not been chosen in the last quarter.

     Direct debit of these income payments on account of the first, second and third quarters may be made from the 1st to the 15th of the months of April, July and October, respectively.

     However, when the last day of the deadline for filing self-assessments, in accordance with the provisions of its regulatory regulations, is a non-working day, the direct debit period will be extended by the same number of days as the deadline for filing said self-assessments.

   • The final self-assessment corresponding to the fourth quarter must also be submitted using form 303, during the first thirty days of January of the following year. If the result is to be paid, payment can be made by direct debit from the 1st to the 25th of January.

     However, when the last day of the deadline for submitting the final self-assessment, in accordance with the provisions of its regulatory regulations, is a non-working day, the direct debit period will be extended by the same number of days as the deadline for submitting said self-assessment.

     Additionally, and in order to reduce administrative burdens, it has been established that those taxpayers who meet certain requirements established by Ministerial Order will be exempt from the obligation to submit the annual summary declaration of VAT ( model 390) in accordance with the provisions of article 71 of the VAT Regulations. This exemption is not optional.

     The group exempt from this obligation is made up of taxpayers obliged to submit periodic self-assessments, with a quarterly settlement period, who, paying taxes only in common territory, exclusively carry out the following activities:

     1. Activities that are subject to the simplified regime of Value Added Tax, and/or

     2. Urban real estate leasing activity.

     The exemption will be maintained if they also carry out activities for which there is no obligation to submit periodic self-assessments.

     Therefore, the entrepreneur or professional covered by the simplified regime exclusively, must complete the specific section reserved for exempt taxpayers of the annual summary declaration of the Tax required for these purposes in the self-assessment form of the Tax (form 303) corresponding to the last settlement period of the year in relation to the activities to which the declaration refers and the detail of the total volume of operations carried out in the year.

     This exemption does not apply in the event that there is no obligation to submit the self-assessment corresponding to the last settlement period of the financial year because the person has declared withdrawal from the Census of Business Owners, Professionals and Withholders before the start of the financial year.

2. Annual summary declaration of Value Added Tax: In addition to the self-assessments described (form 303), entrepreneurs or professionals covered by this must submit the annual summary declaration of VAT , model 390 special regime that do not meet the requirements established by Ministerial Order to be exempt from the obligation to present the annual VAT Summary Declaration in accordance with the provisions of Article 71 of the VAT Regulation.