How to file a return for previous years

Tax periods starting from 1 January 2016

The new features that specifically affect the liquidation of Corporate Tax in 2016 are indicated:

• Civil societies

  with a commercial purpose will be considered taxpayers of Corporate Tax as of January 1, 2016.

• Intangible assets will depreciate according to their useful life. When this cannot be estimated reliably, the depreciation will be deductible with the annual maximum limit of one twentieth of their amount. The differentiation between intangible assets of a definite and indefinite useful life has been removed.

• With goodwill, its amortisation is fiscally deductible, with the annual maximum limit of one twentieth of its amount.

• Impairment losses of tangible fixed assets, real estate investments, intangible fixed assets (including goodwill), securities that represent the share in entities' own capital or funds and securities that represent debt will not be deductible.

• As of 1 July 2016, the calculation method for reducing income from certain intangible assets has changed.

• The limits applicable for compensating negative gross tax bases and deferred tax assets will be the following, according to the net amount of turnover during the 12 months prior to the date on which the tax period began:

  • Turnover of less than €20m: 60%
  • Turnover equal to or greater than €20m and less than €60m: 50%
  • Turnover equal to or greater than €60m: 25%

• For these taxpayers, compensation of negative gross tax bases cannot exceed the calculation of applying the previous percentages to the gross tax base before applying the capitalisation reserves and said compensation. In any case, negative gross tax bases can be compensated during the tax period up to the amount of €1m.  

  This limitation will not be applicable to the amount of income corresponding to debt reduction as a result of reaching an agreement with the taxpayer's creditors.

• The general tax rate will be 25%.

  Small-sized companies will also be taxed 25% on the total of the gross tax base.

• A limit is established for the application of deductions for double taxation, generated or pending compensation, which is set at 50% of the total amount for taxpayers whose net turnover amount is at least €20M during the 12 months prior to the date on which the tax period begins.

• The offsetting of impairment losses of securities that represent the stake in entities' own capital or funds, generated prior to 1-1-2013, will be formed, at a minimum, by parts that are equal to the gross tax base corresponding with each of the first five tax periods after 1 January 2016. If in said period these securities are transferred, quantities pending offsetting will be integrated into the gross tax base of the fiscal year, with the limit of the positive income derived from this transferal.

• In the case of the transfer of a permanent establishment in a tax period beginning on or after 1/1/2016, the taxable base of the transferring entity resident in Spanish territory will be increased by the amount of the excess of the net negative income generated by the permanent establishment in tax periods beginning before 1/1/2013 over the net positive income generated by the permanent establishment in tax periods beginning on or after that date, with the limit of the positive income derived from the transfer thereof.