News published in INFORMA 2021

New items published in the INFORMA programme during FEBRUARY

A civil company with the exclusive purpose of merely holding negotiable securities and shares with the sole intention of sharing the results obtained, without participating in the management of the administrative, accounting and tax aspects, does not have a commercial purpose and is not a taxpayer of corporate income tax.

Late payment interest is considered a tax-deductible expense and, given its nature as a financial expense, is subject to the deductibility limits contained in Article 16 of the LIS.

For tax periods beginning on or after 1 January 2021, taxpayers who, exceptionally and in accordance with Article 9 of Royal Decree-Law 15/2020, opted to make payments in instalments for corporate income tax, for tax periods beginning on or after 1 January 2020 under the option provided for in Article 40.3 of the LIS will need to file census form 036 in February 2021 if they intend to continue with the option provided for in paragraph 3 of Article 40 of the LIS.

A non-profit association that is responsible for seeking the financing that other entities require for the implementation and maintenance of activities compatible with its aims carries out an economic activity, which involves the organisation on its own account of material and/or human resources for the purpose of intervening in the production or distribution of goods or services, and the income derived from the activity of providing financing services will be subject to and not exempt from corporate income tax.