News published in INFORMA 2023

News published in INFORMA during the month of JANUARY

With effect for tax periods beginning on or after 1 January 2023, the deduction for investments in Spanish productions of feature films and short films and audiovisual series of fiction, animation or documentaries, which allow the creation of a physical medium prior to their serial industrial production may not exceed 20 million euros (previously 10 million euros). In the case of audiovisual series, the deduction will be determined per episode and the previous limit will be 10 million euros for each episode produced.

With effect for tax periods beginning on or after 1 January 2023, a reduced tax rate of 23% is introduced for entities whose net turnover of the immediately preceding tax period is less than EUR 1 million.

With effect for tax periods beginning on or after 1 January 2023, the limit of 100,000 euros per person for creative staff expenses is eliminated in the deduction to which producers registered in the Administrative Registry of Cinematographic and Audiovisual Companies of the Institute of Cinematography and Audiovisual Arts are entitled for expenses incurred in Spanish territory.

Producers registered in the Administrative Registry of Cinematographic and Audiovisual Companies of the Institute of Cinematography and Audiovisual Arts who are in charge of the execution of a foreign production of feature films or audiovisual works that allow the creation of a physical support prior to their serial industrial production, will have the right to the deduction provided for in section 2 of article 36 of Law 27/2014 for expenses incurred in Spanish territory. this deduction may not exceed 20 million euros (previously 10 million euros) for each production made. In the case of audiovisual series, the deduction will be determined per episode and the previous limit will be 10 million euros for each episode produced.

As of January 1, 2023 , taxpayers who carry out the trade in goods operations referred to in letter a) of section 1 of article 44 of Law 19/1994, must sign a quarterly informative declaration of operations with goods carried out outside the Canary Islands Special Zone in which the origin and destination of the goods, the type of goods, quantity and other required information will be stated, in accordance with the Union customs code and other applicable regulations. They must also keep a record of the corresponding customs documentation.

Investments in new vehicles FCV , FCHV , BEV , REEV or PHEV used in economic activities and that come into operation in the tax periods beginning in the years 2023, 2024 and 2025 , may be amortized based on the coefficient resulting from multiplying by 2 the maximum linear amortization coefficient provided for in the officially approved amortization tables.