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 administrative, accounting and tax aspects, has no commercial purpose and is not a taxpayer of Corporate Tax.

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

For tax periods starting on or after January 1, 2021, taxpayers who exceptionally and in accordance with article 9 of Royal Decree-Law 15/2020 chose to make fractional payments of Corporation Tax, for tax periods starting on or after January 1, 2020 under the modality of article 40.3 of the LIS will need to submit census form 036 in February 2021 if they intend to continue with the option of section 3 of article 40 of the LIS .

A non-profit association that is responsible for seeking the financing that other entities need to start up and sustain activities compatible with its purposes carries out an economic activity, which involves the management of material and/or human resources on its own account for the purpose of participating 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 Tax.