Tax on interest margin and commissions of certain financial institutions

Instructions Model 780

Model 780

Tax on the interest margin and commissions of certain financial institutions. Self-assessment.

 Instructions on completing and submitting Form 780

General issues

References to the Tax Law contained in these instructions are understood to refer to Law 7/2024, of December 20, which establishes a Complementary Tax to guarantee a minimum overall level of taxation for multinational groups and large national groups, a Tax on the interest margin and commissions of certain financial institutions and a Tax on liquids for electronic cigarettes and other tobacco-related products, and modifies other tax regulations.

These instructions are applicable for the first time to self-assessments of the tax on interest margin and commissions of certain financial institutions, the filing period for which begins in the 2025 fiscal year.

Those required to submit Form 780

Credit institutions, financial institutions, and branches established in Spanish territory of foreign credit institutions referred to in section five of the Tax Law shall be required to submit Form 780 and pay the corresponding amount.

However, taxpayers whose taxable income is not positive will not be required to file Form 780.

Deadlines for filing Form 780

Form 780 must be filed and submitted within the first 20 calendar days of the ninth month following the end of the tax period, in accordance with the provisions of section fifteen of the ninth Final Provision of the Tax Law.

For taxpayers whose tax period coincides with the calendar year, Form 780 must be filed between September 1 and 20.

In the case of direct debit payments, the submission period will be from September 1st to September 15th (only when the tax period ends on December 31st).

Forms for filing Form 780

Form 780 must be submitted electronically using recognized electronic certificates issued for taxpayer identification and authentication.

Form 780 can be submitted by:

1. Taxpayers.

2. Voluntary representatives of those obliged to pay with powers or faculties (representatives) to electronically submit declarations and self-assessments to the Tax Agency on their behalf or to represent them before it. For these purposes, please note that in addition to the general power of attorney, there is a specific power of attorney procedure for submitting these forms.

3. Social collaborators in the application of taxes.

Completion of Form 780

1. ID

   In this section you must enter the NIF of the declarant, and his/her name or company name.

   Telephone: A contact telephone number must be indicated in this box.

   Contact person: The name and surname of the contact person must be indicated in this box.

2. YEAR

   Tax year: indicate the fiscal year to which the self-assessment corresponds.

   Period: the value “0A” must be indicated.

   The start and end dates of the tax period for which the declaration is made must also be indicated, in the following order: day, month and year.

3. SETTLEMENT

   Taxable base

   Box [01]: Interest Margin. The figure corresponding to the amount of the interest margin derived from the activity carried out in Spanish territory will be recorded. In the case of branches of foreign credit institutions, the interest margin attributable to said branch will be calculated in accordance with the provisions of Article 16 of the TRLIRNR.

   Box [02]: Income and expenses from commissions. The figure corresponding to the amount of income and expenses from commissions derived from the activity carried out in Spanish territory will be recorded. In the case of branches of foreign credit institutions, the income and expenses from commissions attributable to said branch will be computed in accordance with the provisions of Article 16 of the TRLIRNR.

   Box [03]: Total Tax Base. This box will show the positive balance resulting from integrating and offsetting the interest margin and the income and expenses from commissions derived from the activity carried out in Spanish territory, recorded in boxes [01] and [02].

   Box [04]: Reduction in section nine, Final Provision nine of Law 7/2024. The amount of the €100 million reduction applicable to the tax base will be entered in this box.

   If the tax period is less than 12 months, the reduction of 100 million will be prorated based on its duration.

   Box [05]: Taxable base. This box will show the amount resulting from reducing the tax base shown in box [03] by the amount of the reduction shown in box [04].

   As a result of applying the reduction, the taxable base cannot be negative.

   Box [06]: Full fee. It will be the result of applying to the taxable base of box [05] the tax rate that is applicable according to the scale of section ten of the ninth Final Provision of the Tax Law.

   Box [07]: Reduction in section eleven, Final Provision nine of Law 7/2024. Where applicable, the amount of 25 percent of the taxpayer's net Corporate Tax or Non-Resident Income Tax for the same tax period will be recorded.

   If the taxpayer is part of a tax group that pays taxes under the tax consolidation regime of Chapter VI of Title VII of the Spanish Tax Law (LIS), the net IS quota will be the proportion of said quota that represents the individual taxable base of the taxpayer, determined in accordance with Articles 62 and 63 of the Spanish Tax Law (LIS), once the eliminations and additions of Articles 64 and 65 of the aforementioned law have been carried out and prior to the offsetting of negative tax bases, on the taxable base of the tax group prior to the offsetting of negative tax bases. For these purposes, if the taxpayer's tax base is negative, no deduction will be available.

   Box [08]: Net amount. This amount is the result of the difference between the amounts entered in boxes [06] - [07].

   As a result of applying the reduction, the net amount cannot be negative.

   Box [09]: Indicator of return on total assets, section twelve, Final Provision nine of Law 7/2024. This box will only be completed to include the indicator of the taxpayer's return on total assets when said indicator is lower than the reference value of 0.7 percent.

   Box [10]: Extraordinary deduction percentage, section twelve, Final Provision nine of Law 7/2024. This amount is the result of calculating the percentage of the applicable extraordinary deduction, calculated as follows:

   Deduction percentage = $(1-\frac{\mathrm{box}}{0.7})Ç100$

   It will only have content if box [09] has content.

   Box [11]: Extraordinary deduction section twelve, Final Provision nine Law 7/2024. It will be the result of applying the extraordinary deduction percentage of section twelve of the ninth Final Provision of the Tax Law, to the net amount (box [08] * box [10]).

   Box [12]: Resulting share. This amount is the result of reducing the net quota by the amount of the extraordinary deduction (box [08] - box [11]).

   The resulting quota cannot be negative due to the application of this deduction.

   Box [13]: Quota attributable to the State Administration. This box will be the result of applying the percentage of taxation to the common territory to the full quota (Box [12] * Box [18]).

   If the taxpayer does not pay taxes in several Administrations, the amount in this box will coincide with the resulting fee (Box [13] = Box [12])

   Box [14]: To deduct the fractional payment corresponding to the fiscal year attributable to the State Administration. The amount of the split payment entered during the fiscal year will be entered in this box.

4. TAX INFORMATION BY TERRITORY (only for taxpayers who pay taxes to several Administrations)

   Taxpayers who pay taxes to several Administrations must report their percentage of taxation to Álava (box [15]), Guipúzcoa (box [16]), Vizcaya (box [17]) and the common Territory (box [18]).

5. RESULT

   Box [19]: To deduct. (Exclusively in the case of supplementary self-assessments). This box should only be completed if the return is supplementary to a previously filed return, indicating the result of the previous return or returns filed for the same fiscal year and period.

   Box [20]: Liquidation result. The result of the settlement will be entered in this box, which will be equal to:

   Box [13] (Quantity attributable to the State Administration) - Box [14] (To be deducted from the fractional payment corresponding to the fiscal year attributable to the State Administration) - Box [19] (To be deducted in the case of a supplementary declaration)

6. Complementary

   An "X" will be marked in the "Supplementary declaration" box when this declaration is complementary to another declaration or declarations previously submitted for the same concept and corresponding to the same fiscal year.

   In such a case, the supporting document number of the previous declaration must also be entered in this section. If more than one declaration has been previously submitted, the supporting document number of the last one will be recorded.

7. DEPOSIT

   The amount to be paid must be entered (box “I” - Amount), equal to the amount entered in box [20] (“Settlement result”), as well as the payment method chosen in the “Payment method” box.

   If the "Direct Debit of the amount to be paid" option is selected, the self-assessment must be submitted within the direct debit period for each settlement period.

   Likewise, in the case of payment by direct debit, the complete details of the bank account (IBAN code) of the Collaborating Entity, or those of an account opened in a non-collaborating entity within the Single Euro Payments Area (SEPA Area) must be included in the declaration. In the latter case, payment must be made through the intermediation of a collaborating entity in the collection management service.

   The procedure for making the payment of the amount resulting from the self-assessment will be that established in Order HAP/2194/2013, of November 22 (articles 6 to 11), which regulates the procedures and general conditions for the submission of certain self-assessments and information returns of a tax nature. If the direct debit is made to an account opened in a non-collaborating entity in the SEPA Zone, it will be adjusted to the provisions of article 5 bis of Order EHA/1658/2009, of June 12.

   Finally, in the case of payment by direct debit with obtaining the NRC, the Complete Reference Number must be included in the declaration.

8. RETURN

   Box “D” (Amount) must be completed only in the case of a self-assessment whose amount entered in box [20] (“Settlement result”) is negative, indicating the full identification of the account (IBAN, BIC/SWIFT) to which you wish the amount to be transferred. This account must be owned by the taxpayer.