Incorporation of the direct estimation economic activity record books in the income tax return
Taxpayers who keep Record Books in accordance with those published by the AEAT on its website, in XLS format, will be able to incorporate their content into their return.
By selecting the "Import XLS" option and the excel file from your computer, Renta WEB 2020 will automatically transfer the totals of the different items in the books to the corresponding boxes of the return.
The transfer of the amounts recorded in the Record Books is carried out exclusively for the purpose of filling in the corresponding boxes of the tax return form, without this entailing either the conservation of the content of the Record Books or the provision thereof to the AEAT.
As a very noteworthy new development for this financial year 2020, in the section on income from economic activities in direct estimation, for the first time taxpayers are voluntarily allowed to transfer the amounts recorded in the Personal Income Tax record books, on an aggregate basis, to the corresponding boxes in this section of the tax form.
This transfer is technically subject to the condition that the format of the books is the standard format for record books published by the Tax Agency on its website.This format, as indicated in the explanatory memorandum of Order HAC/773/2019, of 28 June, which regulates the keeping of record books for Personal Income Tax, was established with the aim of assisting taxpayers in complying with their formal tax obligations and providing them with legal security and certainty in the minimum content that may be required of them.To this effect, this option represents a further step forward in assisting taxpayers who carry out economic activities, as well as in simplifying completing the form.
To this effect, taxpayers who carry out economic activities and are obliged to keep record books in accordance with the provisions of Article 68 of the Tax Regulations, may transfer the amounts of the transactions recorded in the sales and income record book and in the purchases and expenses record book to the corresponding boxes on their return, facilitating the completion of this section.In other words, the transfer of the amounts recorded in the previous Record Books is carried out exclusively for the purpose of filling in the corresponding boxes of the return form, without this entailing either the conservation of the content of the aforementioned Register Books or the provision thereof to the Tax Agency.
These amendments are in line with the Tax Agency's general objectives of reducing indirect tax burdens, improving taxpayer assistance, limiting, as far as possible, the requests to taxpayers and, ultimately, achieving a more efficient tax administration.