Property owners in Spain – who are not residents – are also taxed and must, therefore, declare the income obtained in Spanish territory by means of Tax Form 210. Non-resident income tax (IRNR).
This is a new obligation (Beneficial ownership in Spain) to be included in the financial statements for the fiscal years beginning in 2017.
Intra-Community triangular operations (ITO) are performed among three companies located in three different countries. Thus, Company B (intermediary, Country 2) purchases goods from Company A (supplier, Country 1), to be in turn resold to Company C (final customer, Country 3), so that the product will be transported directly from the country of the supplier to that of the final customer, without entering the country of Company B.
The deductibility of subsistence allowances and travel expenses in Spain entails important savings for companies or self-employed workers. However, this requires compliance of a series of conditions and document requirements that need to be taken into account, which we describe in this article. We shall explain all the aspects pertaining to subsistence allowances and transportation costs, food and board, according to the two most relevant taxes for companies in Spain, Corporate Tax and Value-Added Tax.
The latest regulatory and technical modifications for the keeping of VAT record books will become effective on 1 July 2018. These modifications are published under Order HFP/187/2018, of 22 February, whereby it is intended to finalise details and correct the errors that have been coming to light in the SII in Spain since it entered into force on 1 July 2017.