News published in INFORMA 2019

News published in INFORMA in October

Taxpayers, when carrying out business activities of a commercial nature and determining their performance using the normal method of direct estimation, will be required to keep accounting records in accordance with the provisions of the Commercial Code. When the business activity is not of a commercial nature or the net income is determined by the simplified method of direct estimation, a record book of sales and income, purchases and expenses, and investment assets must be kept.

When taxpayers carry out professional activities whose performance is determined by the direct estimation method, in any of its modalities, even if they keep accounting adjusted to the Commercial Code, they will be required to keep a record book of income, expenses, investment assets and funds and supplies.

Amounts received by former MEPs who were such before July 2009 and which come from the voluntary supplementary pension system will be taxed according to the legal nature of the income, that is, one third of the amount received, as it originates from contributions made by the MEP, is income from movable capital and the other two thirds of the amount received, as it originates from contributions made by the European Parliament, is income from work.