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Main tax changes introduced by Law 13/2023

GENERAL TAX LAW

  • Corrective self-assessments.

    Section 3 is amended and a section 4 is added to article 120 of the General Tax Law. Likewise, the twenty-sixth Additional Provision of the General Tax Law is modified.

    • The new figure of the corrective self-assessment is included, by which the taxpayer may rectify, complete or modify the self-assessment previously submitted, regardless of the result of the same, by submitting a corrective self-assessment, thus replacing, in those taxes where this is established, the submission of complementary declarations and requests for rectification.

    • When the correction of a self-assessment involves a reduction in the amount to be paid from the previous self-assessment and does not give rise to an amount to be refunded, the payment obligation will be maintained up to the limit of the amount to be paid resulting from the correction.

    • Although this new form of error correction came into force on 26 May 2023, the implementation of the corrective self-assessment requires that it be included in the regulations of each tax through the modification of the corresponding regulations and the ministerial orders approving the self-assessment forms.

    • When the regulations of the tax establish that the rectification of a self-assessment must be carried out by submitting a corrective self-assessment, the references contained in the current provisions to the request for rectification of the self-assessment shall be understood to be made for said tax to the corrective self-assessment.

  • Limited verification.

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

    • The scope of the actions of the Tax Administration in limited verification procedures is expanded by recognizing the power to verify commercial accounting, for the sole purpose of verifying the coincidence between what appears therein and the information held by the Tax Administration, including that obtained in the procedure.

    • The tax authorities may require third parties to provide information and supporting documentation in order to verify the veracity of the information held by the tax authorities, including that obtained in the procedure.

    • Limited verification activities may be carried out outside the offices of the Tax Administration, in cases where it is appropriate for the examination of accounting, in which case the officials who carry out such activities will have the powers recognised in sections 2 and 4 of article 142 of this law.

    • The accounting records must be examined at the taxpayer's home, premises, office or bureau, in the presence of the taxpayer or the person he or she designates, unless the taxpayer consents to their examination in public offices. However, the Tax Authority may examine copies of accounting records in any format in its offices.

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

    With effect from January 1, 2023 , Additional Provision 22 of Law 58/2003, of December 17, General Tax Law ( LGT ) is modified by section ten of the sole article of Law 13/2023, of May 24:

    • This amendment specifies the wording of section 7 of Additional Provision 22 of the LGT , which regulates the obligation of information and due diligence regarding financial accounts in the field of mutual assistance (CRS), with the aim of guaranteeing, with respect to the obligation of information already existing between parties (declarants and declared), the exercise of the right to the 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 aforementioned Additional Provision, must inform each natural person subject to communication of information, that the information about them that is the subject of said communication 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, also adding as a novelty that the financial institution will also provide the natural person with sufficient advance notice of all the information that is have the right to receive so that they can exercise their right to the protection of their personal data and, in any case, before the information collected is provided to the Tax Administration.

  • Obligation to provide information on cross-border tax planning mechanisms.

    Sections 1, 2 and 3 are modified and a new section 5 is added in Additional Provision 23 of Law 58/2003, of December 17, General Tax Law ( LGT ), all through section eleven of the sole article of Law 13/2023, of May 24:

    • Specifically, the wording of sections 1, 2 and 3 of Additional Provision 23 of the LGT which regulates the obligation to provide information on cross-border tax planning mechanisms is specified, in order to include as subjects required to communicate information also the persons or entities that are considered intermediaries or interested taxpayers, according to the Multilateral Agreement between Competent Authorities on the automatic exchange of information relating to mechanisms for evading the Common Reporting Standard and opaque offshore structures and its Model Rules for mandatory communication of information to address mechanisms for evading the Common Reporting Standard and opaque offshore structures, and other international agreements signed for the same purpose.

      Consequently, in section 1 of the aforementioned Additional Provision, among the information to be provided to the Tax Administration, a new section d) is added, 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 mechanisms for circumventing the Common Standard for the communication of information and opaque extraterritorial structures, and in other international agreements signed with the same objective.

      Likewise, the wording of section 2 of the aforementioned Additional Provision is specified, making reference not only to Council Directive 2011/16/EU, but also to the previously mentioned Model Rules.

      Finally, in section 3 of Additional Provision 23, the reference to the previously mentioned Multilateral Agreement is also added.

    • Additionally, a new section 5 is introduced in Additional Provision 23 of the LGT , with effect from January 1, 2023, to include a new obligation of communication between parties (declarants and declared). Specifically, it is established that any intermediary obliged to provide the information in accordance with the provisions of the aforementioned provision, must inform each interested taxpayer who is a natural person subject to communication of information, that the information required about said taxpayer will be provided to the Administration. tax and transferred in accordance with Directive 2011/16/EU and the corresponding international agreements. Likewise, the intermediary will provide the natural person with sufficient advance notice of all the information that he or she is entitled to receive so that he or she can exercise his or her right to the protection of his or her personal data.

  • NEW Information and due diligence obligations relating to the disclosure statement of platform operators required in the field of mutual assistance (DAC 7).

    With effect from 1 January 2023, a new information and due diligence obligation is established regarding the information declaration of obliged platform operators in the field of mutual assistance , through the introduction of a new Additional Provision in the LGT , Additional Provision 25.

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

    • Specifically, the new Additional Provision 25 of the LGT , in its section 1, establishes that entities that are considered “platform operators obliged to communicate information”, in accordance with the provisions of Article 8 bis quarter and Annex V 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 Model Rules for the communication of information by operators of platforms with respect to sellers in the field of the collaborative economy and the gig economy, and in other international agreements signed with the same objective, must apply due diligence standards and procedures and comply with the obligations of registration and provision of information in accordance with the aforementioned regulations.

      Likewise, persons and entities that have the status of “sellers” , in accordance with the regulations indicated above, must comply with the obligations arising from the application of the due diligence rules and procedures.

      These due diligence standards and procedures, as well as the aforementioned obligations regarding registration and provision of information, will be developed by regulation.

    • For their part, sections 2, 3 and 4 of Additional Provision 25 of the LGT regulate the regime of infractions and sanctions derived from non-compliance with the obligations of registration and provision of information and the rules and procedures of due diligence provided for in section 1 of the aforementioned Additional Provision.

    • Additionally, section 5 of Additional Provision 25 of the LGT specifies that when a “seller” does not provide the “platform operator obliged to communicate information” with the information required in accordance with the due diligence rules and procedures, having received two reminders regarding the operator's initial request and a period of 60 calendar days having elapsed since the initial request, said operator will close the “seller's” account and prevent him from registering on the platform again or will withhold payment of the “consideration” until he provides the information requested.

    • Likewise, section 6 of Additional Provision 25 of LGT regulates the precautionary deregistration in the corresponding census of the “platform operator obliged to communicate information” referred to in section I, section A, point 4, letter b), of Annex V to Council Directive 2011/16/EU, when the reporting obligation referred to in paragraph 1 is not met, after two requirements.

    • Finally, sections 7 and 8 of Additional Provision 25 of the LGT respectively include the obligation to retain and make available to the Tax Authority documentary evidence, records and any information used to apply due diligence procedures and to comply with the obligations of registration and provision of information during the 10 years following the end of the reference period to which the provision of information corresponds and the obligation of communication between parties (declarants and declared).

CORPORATION TAX

  • Modification of the limitation on the deductibility of financial expenses

    With effects for tax periods that begin on or after January 1, 2024 , the fifth Final Provision of Law 13/2023, of May 24, modifies article 16 of the Law 27/2014, of November 27, on Corporate Tax, with the purpose of adapting it to Council Directive ( EU ) 2016/1164, of July 12, 2016. In this regard, the section of article 16 is modified, incorporating that, in determining the operating profit, in no case will income, expenses or revenues that have not been included in the taxable base of this Tax be included.

    On the other hand, section six of article 16 is modified, excluding from the non-application of the limitation provided for in said article the mortgage securitization funds, regulated by Law 19/1992, of July 7, on the Regime of Real Estate Investment Companies and Funds and on Mortgage Securitization Funds, and the asset securitization funds referred to in Additional Provision fifth.2 of Law 3/1994, of April 14.

VALUE ADDED TAX

  • Non-customs warehouse regime: goods subject to special taxes (article 18. Three, 83.Two LIVA )

    With effect from January 1, 2023, Section One of the First Final Provision of Law 13/2023, of May 24, modifies:

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

      This amendment aims to facilitate the settlement of these operations, given that the goods subject to IIEE that are under this suspension regime and have been previously imported are mixed in the tax warehouses with other goods of the same kind and nature that may come from the internal or community market.

    • Section Two of Article 83 of the LIVA, with the aim of making a technical adjustment to the tax base for imports of goods and operations similar to imports of goods.

  • Location of services: rule of effective use or exploitation (article 70. Two LIVA)

    With effect from May 26, 2023, Section Two. One of the First Final Provision of Law 13/2023, of May 24, modifies the application of the rule of effective use or exploitation, which allows the subjection in the Spanish territory of the application of the tax (TAI) of those services carried out outside the Community, but whose effective use occurs in the same, excluding financial and insurance operations between businessmen.

    This amendment aims to guarantee the neutrality of the tax and the competition of these strategic sectors of the Spanish economy in terms equivalent to the other sectors of economic activity excluded from the application of said rule by Law 31/2022, of December 23, on the General State Budget for the year 2023.

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

    With effect from May 26, 2023, Section Two. Two of the First Final Provision of Law 13/2023, of May 24, modifies the electronic commerce import regime (IOSS) to allow entrepreneurs and professionals who have the headquarters of their economic activity in the Canary Islands, Ceuta or Melilla, to benefit from it without the need to have a representative established in the Community.

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