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The prorate rule (general or special) is an adjustment which consists of calculating the proportion of transactions right to deduct VAT in relation to the total volume of transactions carried out in the year.
The annual accounts must be prepared within three months of the end of the financial year and approved by the General Meeting within six months of the end of the financial year.
All invoices, whether electronic or on paper, in structured or unstructured format, must guarantee their legibility, authenticity and integrity.
On the sale of a property, provided that the transfer value is higher than the acquisition value, the capital gain generated must be declared for non-resident income tax purposes.
It aims to reduce the generation of waste and improve the management of waste that cannot be avoided, developing two new taxes to discourage less favorable management options.
The main objective of the new legal concept is to offer permanent contracts in a sector that is highly affected by temporary and precarious employment, such as Science, Technology and Innovation.
A natural person who invests in cryptocurrencies will have to declare their profits in their income tax return, while a legal entity will have to declare their profits in their corporate income tax return.
In January 2021, the Government implemented a reform in the tax tranches of the PIT for labour income and there will be an increase of two percentage points, from 45% to 47%, for income above 300,000 euros.
Negative taxable bases (BINs) can be offset in subsequent tax periods without any time limit, although with a series of quantitative limitations depending on the amount of the entity’s turnover.
The economic benefit of the TI in cases related to Covid-19 is pay by the entity that protects the professional contingency of the company’s employees and will be charge from the day after the sick leave until the date of discharge.