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Arm’s Length Principle in Transfer Pricing
In transactions between unrelated companies, market forces often determine the terms of commercial and financial relationships, whereas between related companies such forces may not directly affect prices.
Depreciation and methods of accounting depreciation
In order to calculate depreciations we have to take into account the acquisition price of the asset, the useful life of the asset, as well as the residual value at the end of the depreciation period. There are different methods, depending on the depreciation process we want to obtain.
Sanctions for non-compliance with the Home Office Law
The home office agreement is a document that every company must negotiate, draw up and sign with its employees to set out the conditions for home office and, in case of non-compliance, penalties of varying degrees can be apply.
Access of the tax inspector to the registered office of the company
When it is necessary to enter the constitutionally protected domicile of a taxpayer or make records in it, the Tax Administration must obtain the consent of that person or the appropriate judicial authorization.
Form 123 at Tax Authorities
This is a quarterly form that must be filed electronically or in person by the self-employed, SMEs and Communities of Assets, obliged to withhold or pay on account of Personal Income Tax, Corporation Tax and IRNR, which pay income from movable capital.
Corporate income tax for newly created entities
Newly created entities will have a reduced tax rate of 15% in the first tax period in which their taxable income is positive, and in the following period, provided that the entity is newly created and carries out economic activities.
Extension of the ERTES until 28 February 2022
From October 1 to October 31, 2021, the current ERTES conditions are extended without modifications or exemptions, and from November 1 to February 28, 2022, the new ones with changes to the ERTES exemption regime will come into force.
Parental leave for breastfeeding in Spain
There are three ways to take breastfeeding leave: to be absent one hour or two half-hour fractions each working day, to accumulate hours to obtain full working days, or to reduce the working day to enter later or leave earlier.
New VAT distance selling scheme
The Law on Value Added Tax is modified to carry out the transposition of European regulations in the field of electronic commerce and establish the rules of taxation of the deliveries of goods and services that are sent or provided by entrepreneurs or professionals from another Member State or a third country or territory.
Tax offense for unduly claiming refunds (Art. 194 LGT)
If the omission of relevant data or the inclusion of false data in the conduct consisting of unduly requesting a refund, which determines the inappropriateness of the refund, is not proven, such conduct will not be punishable.