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Main tax developments introduced by Act 13/2023

General TAX LAW

  • Rectification self-assessments.

    Section 3 is amended and a section 4 is added to article 120 of the General Tax Law. Furthermore, the twenty-sixth additional provision of the General Tax Law is modified.

    • This includes the new figure of the rectification self-assessment for which the taxpayer can rectify, complete or modify the self-assessment filed previously , regardless of the result of the same, by filing a rectification self-assessment, replacing it in this way, in those taxes in the that this is established, the presentation of supplementary tax returns and requests for rectification.

    • When the rectification of a self-assessment involves a reduction of the amount to be paid from the previous self-assessment and does not result in a refund, the payment obligation will be maintained up to the limit of the amount to be paid resulting from the rectification.

    • Although the new method of correcting errors came into force on 26 May 2023, the operation was launched of the rectification self-assessment, it requires that it be collected by the regulations specific to each tax through the modification of the corresponding regulations and ministerial orders for the approval of the self-assessment forms.

    • When the tax regulations state that the rectification of a self-assessment must be carried out by filing a rectification, the references in the provisions in force for the self-assessment rectification request will be understood to be made for this tax to the rectification self-assessment.

  • Limited verification.

    Sections 2 and 4 of article 136 and 2 of article 138 of Act 58/2003 of 17 of December, General Tax (LGT), by sections five and six of the single article of Act 13/2023, of 24 May:

    • The framework of the actions of the Tax Administration in the limited verification procedures is expanded, recognising the ability to check the accounting for the sole purpose of verifying the coincidence between what appears in the tax administration and the information held by the tax administration, including that obtained in the procedure.

    • The Tax Administration may make requests to third parties to provide information and supporting documentation in order to check the veracity of the information held by the Tax Administration, including that obtained in the procedure.

    • Limited verification actions may be carried out outside the Tax Administration offices, where applicable for the examination of the accounting, in which case the officials carrying out these actions will have the powers recognised in sections 2 and 4 of article 142 of this law.

    • The accounting must be examined at the address, premises, office or office of the taxpayer, in the presence of the taxpayer or the person designated, unless the taxpayer consents to its examination at the public offices. However, the Tax Administration may analyze the copies of the accounting in its offices in any format.

  • Reporting and due diligence obligations relating to financial accounts in the field of mutual assistance.

    Effective as of 1 January 2023, the additional provision of Act 58/2003 of 17 December is amended , General Tax (LGT) for section ten of the single article of Act 13/2023, of 24 May:

    • This modification requires the drafting of section 7 of the additional provision of the LGT, which regulates the obligation of information and due diligence relating to financial accounts in the field of mutual assistance (CRS), in order to guarantee with regard to the obligation of information already existing between parties (taxpayers and declared parties), exercising the right to protection of personal data.

      In this way, the current wording provides that any financial institution obliged to communicate information in accordance with the provisions of the said additional provision must inform each individual subject to reporting information that the information on the person subject to this disclosure obligation will be communicated to the Tax Administration and transferred to the corresponding Member State in accordance with Directive 2011/16/EU and the corresponding international agreements, adding as a new feature the financial institution shall also provide the individual with sufficient advance notice of all the information that the person has the right to receive so that they can exercise their right to the protection of your personal data and, in any case, before the information collected by it is supplied to the Tax Administration.

  • Reporting obligation on cross-border tax planning mechanisms.

    Sections 1, 2 and 3 are amended and a new section 5 is added in Additional Provision 58 of Act 2003 / , of 17 December, General Tax (LGT), all of this through section eleven of the single article of Act 13/2023, of 24 May:

    • Specifically, sections 1, 2 and 3 of the additional provision of the LGT that regulates the obligation to provide information on cross-border tax planning mechanisms, in order to include people or entities who are obliged to communicate information as subjects be considered intermediaries or interested taxpayers, according to the Multilateral Agreement between Competent Authorities on the automatic exchange of information relating to the tax mechanisms of avoidance of the Common Standard for the communication of information and opaque offshore structures and their mandatory reporting standards to address mechanisms for avoidance of the Common Standard for the communication of opaque offshore information and structures, and other international agreements signed with the same objective.

      Consequently, a new provision is added in section 1 of the aforementioned additional provision, between the information to be supplied to the Tax Administration section d) which refers to the information on cross-border mechanisms defined in the Multilateral Agreement between Competent Authorities on the automatic exchange of information relating to the mechanisms for avoiding the Common Standard for the communication of information and opaque offshore structures, and in other international agreements signed with the same objective.

      In addition, section 2 of the aforementioned additional provision is required, referring not only to Council Directive 2011/16/EU, but also to the aforementioned standard Rules.

      Finally, in section 3 of the additional provision , the reference to the previously mentioned Multilateral Agreement is also added.

    • In addition, a new section 5 is introduced in the additional provision 1 of the LGT, effective as of 2023 January , to include a new obligation of communication between parties (taxpayers and declared parties). Specifically, it is established that any intermediary obliged to supply the information in accordance with the provisions of this provision must notify each taxpayer concerned that it is an individual subject to information communication, that the information required on this mandatory requirement will be supplied to the Tax Administration and transferred in accordance with Directive 2011/16/EU and the corresponding international agreements. The intermediary shall also provide the natural person with sufficient advance notice of all the information that the latter has the right to receive so that they can exercise their right to protection of their personal data.

  • New obligation of information and due diligence relating to the informative tax return of platform operators obliged in the field of mutual assistance (DAC 7).

    Effective as of 1 January 2023, a new obligation of information and due diligence is established regarding the informative tax return of platform operators obliged in the field of mutual assistance , by introducing a new additional provision in the LGT , the additional provision .

    This additional provision makes the transposition to the General Tax Law of Council Directive (EU) 2021/514 , of 22 March 2021, amending Directive 2011/16/EU on administrative cooperation in the field of taxation (DAC 7), which establishes this new obligation of information and due diligence for platform operators required under European regulations. The provisions contained in the Multilateral Agreement between Competent Authorities for automatic exchange are also incorporated into the internal legal system. information on income obtained through digital platforms in the OECD, as well as in other international agreements signed with the same objective.

    • Specifically, the new additional provision of the LGT, in section 1, establishes that the entities that have been considered of "platform operators obliged to communicate information," in accordance with the provisions of Article quarter and Annex V 8 of Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC, as well as the Multilateral Agreement between Competent Authorities for the automatic exchange of information on income obtained through digital platforms and the Rules of communication of information by platform operators with regard to sellers in the field of the collaborative economy and the sporadic work economy, and in other international agreements signed with the same objective, they must apply due diligence rules and procedures and comply with the obligations to register and supply information in accordance with the aforementioned regulations.

      Similarly, persons and entities that have the status of "sellers", in accordance with the aforementioned regulations, must comply with the obligations arising from the application of due diligence rules and procedures.

      These due diligence rules and procedures will be developed in accordance with the aforementioned obligations to register and supply information.

    • In turn, paragraphs 2, 3 and 4 of the additional provision of the LGT regulate the regime of infringements and penalties derived from non-compliance with the obligations to register and supply information and due diligence rules and procedures provided for in paragraph 1 of the said additional provision.

    • In addition, section 5 of the additional provision of the LGT requires that when a "seller" does not provide the " platform operator obliged to communicate information "the information required in accordance with due diligence rules and procedures, having received two reminders relating to the operator's initial request and after 60 calendar days have elapsed from the initial request, the operator will close the "seller" account and it will prevent you from registering again on the platform or will withhold payment of the "consideration" until you provide the information requested.

    • Similarly, section 6 of the additional provision of the LGT regulates the provisional cancellation in the corresponding census of the "operator of platform obliged to communicate information "referred to in section I, section A, point 4 (b) of Annex V of Council Directive 2011/16/EU, when it does not meet the obligation to inform as referred to in paragraph 1, after two requirements.

    • Finally, paragraphs 7 and 8 of the additional provision of the LGT, respectively, set out the obligation to keep and make documentary evidence, records and any information used to apply due diligence procedures and to comply with obligations to register and supply information for the 10 years following the end of the reference period to which the provision of information corresponds and the obligation to communicate between parties (declarers and declared parties).

CORPORATION TAX

  • Modification of the limitation on the deductibility of financial expenses

    With effect for tax periods beginning from 1 January 2024, the final provision fifth of the Act 13/2023, of 24 May, modifies article 16 of Act 27/2014, of 27 November, on the Tax on companies, in order to adapt it to Council Directive (EU) 2016/1164 of 12 July 2016. In this regard, the first section of article 16 is modified, adding that, in determining the operational profit, under no circumstances will income, expenses or income that have not been included in the taxable base of this Tax be included.

    In addition, section six of article 16 is modified, excluding from the non-application of the limitation provided for in that article to the mortgage securitisation funds, regulated by Law 19/1992, of 7 July, on the Corporate and Investment Fund Regime for Real Estate and on Mortgage Securitisation Funds, and the asset securitisation funds referred to in Additional Provision quinta.2 of Act 3/1994 of 14 April.

VALUE ADDED TAX

  • Deposit regime other than customs: Goods subject to Special Taxes (article 18. Tres, 83.Dos LIVA)

    Effective as from 1 January 2023, the first section of the first final provision of Act 13/2023 of 24 May modifies:

    • Section Three of article 18 of Act 37/1992, of 28 December, on Value Added Tax (LIVA) ), to establish that in the event of abandonment of the depository regime other than the customs of the goods subject to Special Taxes (IIEE) , an operation similar to an import will be carried out and not an import of goods, regardless of their origin.

      This modification aims to facilitate the settlement of these transactions, given that the assets subject to the IIEE that are in this suspensive regime and have been previously imported, are the subject of a mixture of tax deposits with others of the same species and nature that may come from the internal or Community market.

    • Section Two of article 83 of the Value Added Tax Act, in order to carry out a technical adjustment in the taxable base of imports of goods and operations similar to imports of goods.

  • Location of services: Rule of use or effective operation (article 70. Two LIVA)

    With effect from 26 May 2023, section Two. One of the first Final Provision of Act 13/2023, of 24 May, modifies the application of the operating or use rule effective, which allows the tax (TAI) to be subject to those services carried out outside the Community in Spain, but the effective use of which is made in the same, excluding financial and insurance transactions between employers.

    This amendment aims to ensure the neutrality of the tax and the competition of these strategic sectors of the Spanish economy in terms equivalent to others economic activity sectors excluded from the application of this rule by Law 31/2022 of 23 December on General State Budgets for 2023.

  • E-commerce: Import regime-IOSS (article 163 QUinvitcies LIVA)

    With effect from 26 May 2023, section Two. Two of the first Final Provision of Act 13/2023, of 24 May, modifies the import regime for e-commerce ( OSS) to allow entrepreneurs and professionals who have the headquarters of their economic activity in the Canary Islands, Ceuta or Melilla, to take advantage of it without the need for a representative established in the Community.

    In this case, the Member State of identification will be the Kingdom of Spain.