What is a Large Company for tax purposes?
When a company, entrepreneur or professional exceeds 6,010,121.04 euros of turnover in one year, from the following year, it becomes a Large Company, producing significant tax effects that must be taken into account when carrying out procedures before the Tax Agency
What are the consequences of exceeding the threshold of 6,010,121.04 euros in trading volume?
Acquiring the status of a Large Company will have consequences, both in the census and in relation to the deadlines and forms of presentation of certain self-assessments, the calculation of fractional payments of Corporate Tax, the keeping of record books or the way of receiving notifications. or to respond to the requirements made by the Tax Agency.
Obligation to inform the Tax Administration that it has become a Large Company:
Form 036 will be submitted within one month, starting on January 1 of the current year and, in any case, before the deadline for submitting the first periodic return affected by the variation, or that should have been presented if said variation had not occurred.
VAT self-assessments will be submitted monthly and must be submitted electronically through form 303.
Form 111 (Withholdings and deposits on account. Income from work and economic activities, awards and certain capital gains and income allocations) will be presented monthly and electronically.
The same for the rest of the withholding and deposit models.
The period for the self-assessment of the Taxes on Alcohol and Alcoholic Beverages and for the presentation of the declarations of operations that complement said declarations-settlements, as well as the self-assessment period of the Tax on Electricity will be monthly.
The record books referred to in article 62.1 of the Value Added Tax Regulations must be maintained through the electronic provision of billing records (SII).
When the net amount of the turnover has exceeded the amount of 6 million euros, the installment payments will be calculated in the manner provided for in section 3 of article 40 of the Corporate Tax Law.
Large Companies are obliged to receive by electronic means the communications and administrative notifications that the Tax Agency provides to them in the exercise of their powers.
Likewise, they have the obligation to present electronically over the Internet, using one of the identification and authentication systems admitted by the Tax Agency, all documentation with tax significance related to tax procedures managed by the Tax Agency.