Immediate Supply of Information (VAT) updates and related transactions (Corporate Tax)
Immediate Supply of Information (SII): withdrawal from REDEME and VAT group waiver
On May 27th Royal Decree 529/2017 was published, establishing an extended deadline for requesting the withdrawal of the Monthly VAT Refund Register (REDEME) and to submit a waiver to the special regime of VAT group entities, until June 15th 2017.
Both groups are obliged to the new system of Immediate Supply of Information (SII), and for this reason it was necessary to extend the period for withdrawal and to waiver before the implementation of the new bookkeeping system begins on July 1st. As we advanced in our posts from March and May, respectively, you will find more information regarding the SII.
Moreover, this regulation denies the possibility for taxable persons subject to the simplified scheme of eligibility for the SII, resulting from the special nature of this special tax regime.
For any further clarifications regarding the SII please contact the tax advisory department.
Related transactions: Specific documentation form of transactions with persons or related entities
On the other hand, Spanish Tax Authorities (AEAT) make the standardized document available to the taxpayers in order to comply with the documentation of related transactions provided for in Article 16.4 of the Corporate Income Tax Regulations.
As we have advanced in previous posts, this standardized form has to be submitted by companies with a net turnover of less than 10 million euros (small companies).
Once completed, it is possible to save in case Tax Authorities require seeing it; or submitting and filling the pertinent box with the receipt number of having submitted it on page 19 of form 200 of the fiscal year.
For any clarification on these