Tax period and accrued amount
Tax period and the accrued amount of the Corporation Tax
What is the tax period?
General rule
The tax period to which the corporate tax return must refer coincides with the financial year of each entity.
Particular rules
Even if the financial year is not yet over, the tax period shall be understood to have ended in the following cases:
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When an organisation ceases to exist. Cessation is understood to have occurred when an entry is made to such an effect in the Companies Register, after which time tax returns must be submitted within a period of 25 calendar days following the lapse of six months after the entry is made.
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When an organisation resident for tax purposes in Spain changes its residence to another country.
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When an organisation changes its legal status with the effect that the resulting organisation is no longer subject to Corporation Tax.
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When an organisation changes its legal status with the result that either the tax rate applied to said organisation or the scheme it is taxed under are modified.
Under no circumstances shall the tax period exceed twelve months.
In summary,
The duration of the tax period may be:
Twelve months:
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Matching the calendar year
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Not coinciding with the calendar year
Less than twelve months
In any case, those who pay Corporation Tax must submit a separate tax return for each tax period.
And the accrual of the tax?
As regards accrual, Corporate Tax is accrued on the last day of the tax period.