Instructions on completing Form 480 and how to present it
General issues
These instructions are applicable for the first time, for the annual summary declaration corresponding to the financial year 2022, whose submission period begins on January 1, 2023.
Obliged to present Form 480
Insurance entities are required to present this annual summary declaration when they have carried out operations subject to the tax during the year.
Presentation deadlines for model 480
The deadline for submitting form 480 will be between January 1 and January 31 of each year, in relation to operations that correspond to the immediately preceding calendar year.
Forms of presentation of Model 480
The presentation of Form 480 will be mandatory electronically using recognized electronic certificates issued for the identification and authentication of the taxpayer.
The presentation of model 480 can be done by:
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Taxpayers
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The voluntary representatives of the taxpayers with powers or faculties (attorneys) to electronically present declarations and self-assessments on their behalf before the Tax Agency or represent them before it.
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Social collaborators in the application of taxes.
Completion of Form 480
Identification
Enter the taxpayer's NIF, its name or company name, surname and first name.
Accrual
Tax year: Enter the fiscal year to which the annual summary statement corresponds.
Substitute tax return
The “substitute declaration” box will be marked with an “X” when the purpose of the presentation of the declaration is to cancel and completely replace another previous declaration in which inaccurate or erroneous data had been included.
In this case, the 13-digit identification number that appears in the previous declaration will also be recorded in the “identification number” section.
Operations carried out during the year by insurance lines
The tax bases corresponding to the operations carried out in each of the insurance branches that appear in the declaration must be recorded, including not only those that refer to the main risk, but also the accessory risks, whether they are subject operations or non-exempt as if they were exempt operations.
Subject and non-exempt tax bases:
The amount of the premiums or installments, subject to and not exempt from tax, paid by the policyholder or a third party during the year will be recorded. Likewise, modifications to tax bases made in self-assessments for the year will be included, even when they correspond to previous years.
Exempt tax bases:
The amount of the premiums or quotas, subject to and exempt from tax, will be recorded by application of the provisions of article 12 Five of Law 13/1996, of December 30, on Fiscal, Administrative and Social Order Measures, satisfied by the policyholder or a third party during the exercise.
Total tax bases:
The sum of the exempt and non-exempt tax bases entered in the previous boxes will be entered for each type of insurance.
Totals:
The amount of the sum of the subject and non-exempt tax bases (box 70), the amount of the sum of the exempt tax bases (box 71) and the amount of the sum of the total tax bases (box 72) must be entered.
Premium or quota, for these purposes, is understood to be the total amount of the amounts paid as consideration for the operations subject to this tax, whatever the cause or origin that motivates them and the place and manner of collection, with the exception of surcharges established in favor of the Insurance Compensation Consortium and the Liquidation Commission of Insurance Entities and other taxes that fall directly on the premium.
Annual Settlement Result
Subject and non-exempt operations:
Boxes 73 and 76: Taxable base: The subject and non-exempt tax bases that have been taxed in the declaration period at different tax rates will be recorded separately. The sum of both boxes must coincide with the amount in box 70, unless rectifications have been made to the tax bases of operations subject to and not exempt from tax that correspond to previous years and which must be reflected in box 79.
Boxes 74 and 77: Guys: The tax rates in force at the time of the tax accrual will be recorded separately.
Boxes 75 and 78: Quota: The amounts to be paid resulting from applying to the tax bases (boxes 73 and 76) the tax rates indicated in boxes 74 and 77, respectively, will be recorded.
Rectification of operations from previous years
Box 79: Taxable base: The amount of the rectifications carried out in the year of operations subject to and not exempt from tax that correspond to previous years will be recorded. If the rectification involves a reduction of bases, it will be entered with the sign “N” in the first position of the field, to indicate the negative amount.
Box 80: Quota: The amount of the quotas rectified in the year of operations from previous years will be recorded. If the rectification involves a reduction of bases, it will be entered with the sign “N” in the first position of the field, to indicate the negative amount.
Bonuses
Box 81: The amount of the bonuses made during the year corresponding to the declaration will be recorded in accordance with the provisions of the regulations.
Annual settlement result
The amount corresponding to the total number of self-assessments carried out in the year being declared will be recorded as a result of the annual settlement. This amount must be equal to Box 75 + Box 78 + Box 80 – Box 81.
Likewise, this amount must coincide with the amount entered in box 95 as the total result of the monthly periodic self-assessments carried out during the year.
Result of Periodic Settlements
The result of the periodic self-assessments for the year will be entered in boxes 83 to 94, including those for which the deferral, installment has been requested or payment of said income has not been made, as well as the total sum of said amounts in the box 95.