Services provided to a non-profit organisation not registered for tax purposes in its home country, owing to its not being required to do so, are deemed to be within the area subject to Spanish taxation.
The Council of the European Union has adopted Directive (EU) 2018/1713 of the COUNCIL, of 6 November 2018 (OJ of 14 November), regarding the rates of value added tax applied to books, newspapers and periodicals, which helps align the VAT rules applicable to e-publications with the rate applicable to publications supplied on physical means of support. As of now, Member States have the possibility of also applying reduced, super-reduced or zero rates to electronic publications (reduced VAT for electronic publications).
Form 720 – Declaration on Assets and Rights Held Abroad – is a fiscal obligation of an informative nature that requires information on financial assets and rights held or managed abroad to be submitted.
Form 720 in Spain – Informative Return on Assets and Rights Held Abroad – is a fiscal obligation of an informative nature that requires figures and data on financial assets and rights held or managed abroad to be declared. Natural persons and entities domiciled in the Spanish state are obliged to submit this information return.
As businesses become international, it is more and more common to pay VAT on expenses incurred outside Spain. In this context, it is interesting to get to know how you can obtain a refund of such VAT (cross-border VAT recovery).