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Practical Handbook for Companies 2021


With effect for tax periods beginning on or after 1 January 2021, the second final provision of Law 11/2021, of 9 July, on measures to prevent and combat tax fraud, modifies the special tax regime applicable to Listed Real Estate Investment Companies (SOCIMI), introducing in section 4 of article 9 of Law 11/2009, of 26 October, a special tax of 15 per cent on the amount of profits obtained in the year that are not subject to distribution, in the part that comes from income that has not been taxed at the general corporate income tax rate or income subject to the 3-year reinvestment period regulated in letter b) of article 6.1 of Law 11/2009.

This special levy will be considered as corporate income tax liability and will accrue on the date of the resolution of the general meeting of shareholders, or equivalent body, to apply the profit for the year.This special tax must be subject to self-assessment and payment on form 237 approved by Order HFP/1430/2021, of 20 December, within two months from the date of accrual.

Finally, due to the introduction of this special tax, section 1 of article 11 of Law 11/2009, of 26 October, which regulates the disclosure obligations in the notes to the annual accounts, is amended to add the obligation to distinguish the part of the income subject to the special tax rate of 15 per cent in this information .