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Practical Handbook VAT 2021

Tax Management

Entrepreneurs or professionals under the simplified regime will have to file the following self-assessments:

  1. Self-assessments:

    • Self-assessments corresponding to the first three quarters shall be filed during the first twenty days of the months of April, July and October, on the form 303.

      In these three self-assessments, the payments on account of the tax liability under the simplified scheme and the settlement of the transactions referred to in Article 123(1)(B) of the Law on VAT (intra-Community acquisitions, reverse charge and transfer and acquisition of fixed assets) shall be made, if the taxpayer has not opted for the settlement of these transactions in the last quarter.

      The direct debit of these payments on account for the first, second and third quarters can be made from the 1st to the 15th of April, July and October, respectively.

      However, when the last day of the deadline for the submission of self-assessments, in accordance with the provisions of its regulatory regulations, is a non-business day, the deadline for direct debit shall be extended by the same number of days as the deadline for the submission of such self-assessments.

    • The final self-assessment corresponding to the fourth quarter shall also be filed using form 303, during the first thirty days of January of the following year.If the result is a direct debit, 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-business day, the deadline for direct debit will be extended by the same number of days as the deadline for submitting the self-assessment.

      In addition, 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 file the annual summary return of VAT (form 390) in accordance with the provisions of Article 71 of the VAT Regulations.This exemption is not optional.

      The group subject to exemption from this obligation is made up of taxpayers obliged to file periodic self-assessments, with a quarterly settlement period, who, being taxed only in common territory, exclusively carry out the following activities:

      1. Activities taxed under the simplified value added tax system, and/or

      2. Leasing of urban real estate.

      The exemption shall continue to apply in the case of activities for which there is no obligation to submit periodic self-assessments.

      Therefore, the businessperson or professional under the simplified system only, must complete the specific section reserved for exempt taxpayers in the annual tax return-summary required for this purpose in the tax self-assessment form (form 303) corresponding to the last settlement period of the year in relation to the activities to which the return refers and the detail of the total volume of transactions carried out in the year.

      This exemption does not apply in the event that there is no obligation to file the self-assessment corresponding to the last settlement period of the financial year due to having declared the cancellation of the registration in the Census of Employers, Professionals and Withholders before the start of the financial year.

  2. Value Added Tax annual summary return:In addition to the self-assessments described above (form 303), the annual summary return of VAT, form 390, must be filed by business people or professionals under this special regime who do not meet the requirements established by Ministerial Order to be exempt from the obligation to file the annual VAT summary return in accordance with the provisions of Article 71 of the VAT Regulation.