Instructions on completing Form 480 and its presentation methods

General issues

These instructions are applicable for the first time, for the annual summary declaration corresponding to the 2022 fiscal year, the filing period for which begins on January 1, 2023.

Required to submit Form 480

Insurance companies are required to submit this annual summary declaration when they have carried out operations subject to the tax during the year.

Deadlines for filing Form 480

The deadline for submitting Form 480 will be between January 1 and January 31 of each year, in relation to operations corresponding to the immediately preceding calendar year.

Forms of presentation of Model 480

The submission of Form 480 will be mandatory electronically using recognized electronic certificates issued for the identification and authentication of the taxpayer.

Form 480 can be submitted by:

1. Taxpayers

2. Voluntary representatives of taxpayers with powers or faculties (representatives) to electronically submit declarations and self-assessments to the Tax Agency on their behalf or to represent them before it.

3. Social collaborators in the application of taxes.

Completion of Form 480

Identification

Enter the taxpayer's NIF, their 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 submitting the declaration is to completely cancel and replace a previous declaration in which inaccurate or erroneous data had been included.

In such a case, the 13-digit identification number that appears in the previous declaration must also be entered in the “identification number” section.

Operations carried out during the year by insurance branches

The tax bases corresponding to the operations carried out in each of the branches of insurance listed in the declaration must be recorded, including not only those relating to the main risk, but also the accessory risks, whether they are taxable and non-exempt operations or exempt operations.

Taxable and non-exempt tax bases:

The amount of 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, changes 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 fees, subject to and exempt from tax, will be recorded in accordance with the provisions of article 12 Five of Law 13/1996, of December 30, on Fiscal, Administrative and Social Order Measures, paid by the policyholder or a third party during the year.

Total taxable bases:

For each branch of insurance, the sum of the exempt and non-exempt tax bases entered in the previous boxes will be recorded.

Totals:

The amount of the sum of the taxable 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.

For these purposes, the premium or fee is understood to be the total amount of the sums paid as consideration for the operations subject to this tax, whatever the cause or origin that motivates them and the place and form of collection, with the exception of the 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

Taxable and non-exempt operations:

Casillas 73 and 76: Taxable base: The taxable and non-exempt tax bases that have been taxed at different tax rates during the reporting period will be recorded separately. The sum of both boxes must match the amount in box 70, unless corrections have been made to the taxable 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 the tax is due will be stated separately.

Boxes 75 and 78: Quota: The amounts to be paid resulting from applying the tax rates indicated in boxes 74 and 77, respectively, to the tax bases (boxes 73 and 76) will be recorded.

Rectification of operations from previous years

Box 79: Taxable base: The amount of the corrections made in the fiscal year to operations subject to and not exempt from tax that correspond to previous fiscal years will be recorded. If the correction involves a reduction in bases, it will be recorded with the sign “N” in the first position of the field, to indicate the negative amount.

Box 80: Quota: The amount of the adjusted quotas in the exercise of operations from previous years will be recorded. If the correction involves a reduction in bases, it will be recorded 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 fiscal 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 of self-assessments made in the year being declared will be recorded as the result of the annual settlement. This amount must be equal to Box 75 + Box 78 + Box 80 – Box 81.

Likewise, this amount must match that entered in box 95 as the total result of the monthly periodic self-assessments made during the year.

Periodic Settlements Result

The result of the periodic self-assessments for the year will be recorded in boxes 83 to 94, including those for which a deferral, installment payment or non-payment of said income has been requested, as well as the total sum of said amounts in box 95.