Order HAC/495/2024, dated May 27, 2024, has been published in the Official State Gazette of May 27, 2024, and in force since July 1, 2024, approving the Corporate Income Tax (IS) and Non-Resident Income Tax (IRNR) return forms corresponding to permanent establishments and entities under the income attribution regime incorporated abroad with presence in Spanish territory, for the tax periods beginning between January 1 and December 31, 2023.
For this fiscal year 2023, the main novelties of the IS have been focused on adopting measures for emerging companies, micro-companies, entities domiciled in the Balearic Islands and for those that undertake investments in energy saving. Groups that apply the special tax consolidation regime are limited, but only for the 2023 tax period, to 50% compensation of negative tax bases. In addition, several resolutions and consultations of the ICAC have been approved that affect the General Accounting Plan (PGC).
In addition, various resolutions and consultations of the ICAC have been approved that affect the General Accounting Plan (PGC).
In accordance with Order HAC/495/2024, of May 21, all taxpayers are obliged to file the tax return, regardless of whether they have carried out activities during the tax period and whether they have obtained income. Partially exempt entities are only obliged to file the return when they obtain total income exceeding €75,000 per year, income from non-exempt income subject to withholding tax exceeding €2,000 per year or non-exempt income not subject to withholding tax.
Main changes applicable in the fiscal year 2023:
- Reduced corporate income tax (IS) tax rate: The tax rate is reduced from 25% to 23% for entities whose net sales turnover (INCN) for the immediately preceding tax period is less than €1,000,000 and which are not considered to be an asset-holding entity.
- Limitation on the offsetting of losses in 2023 in the tax consolidation regime: A measure is established for the 2023 tax period consisting of the non-inclusion of 50% of the individual tax losses of the entities belonging to a group taxed under the tax consolidation regime in the determination of the consolidated taxable income of such group. The aforementioned percentage not included in 2023 may be offset against the positive taxable income of the tax group in subsequent years.
- Extension of the suspension of the cause of dissolution due to losses: It is established that the losses of the fiscal years 2020 and 2021 will not be computed until the closing of the fiscal year beginning in 2024.
- Deduction for corporate contributions to corporate social welfare systems: Companies may deduct from the gross tax liability 10% of the corporate contributions imputed in favor of employees with gross annual remuneration of less than €27,000.
- Accelerated depreciation of investments in new electric vehicle charging infrastructures: Accelerated depreciation of investments in new electric vehicle charging infrastructures affected to economic activities is allowed in tax periods starting in the years 2023, 2024 and 2025. This is based on a coefficient that multiplies by 2 the maximum linear depreciation coefficient and requires technical documentation and electrical installation certification.
- Startups (“Startups Law”): A 15% tax rate is established for startups in the first year in which they have a positive taxable base and in the 3 following years, provided that they maintain the classification of startups, and deferral of the corporate income tax (IS) or non-resident income tax (IRNR) tax debt is allowed in the first two fiscal years from when the taxable base is positive, without guarantees or late payment interest, for a period of 12 and 6 months respectively. The obligation to make installment payments of IS and IRNR in the 2 years following the year in which the taxable income is positive is eliminated.
Keep in mind the following documentation:
- Annual accounts 2023: in them we will have the basic information that must be incorporated to the Corporate Income Tax model.
- Corporate Income Tax returns from previous years: they will give us clues about differences between the taxable base and the accounting result that can be reversed in 2023, negative tax bases that we can offset, balance of deductions not applied in the past that can be used now, etc. 2023 declarations of other taxes so that we can match them with the amounts included in the corporate income tax return: VAT (annual summary), 190 withholdings, 180 withholdings for real estate leasing, 193 (annual summary of withholdings from movable capital), etc.
- Instalment payments for 2023
- Certificates: of withholdings on leases of real estate, on income from movable capital received, of entities in regime of attribution of income, if the company is a shareholder or co-owner or of donations or gifts made in the fiscal year and of donations or gifts, etc.
You can contact this professional office for any doubt or clarification you may have in this respect.
For further information, please consult with Tax consulting
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