We remind you that in the month of April you must file the VAT, the withholdings on account of Income and Companies, and the fractioned payment of Companies (current year) and Income (in this case for businessmen and professionals in direct and objective estimation), without forgetting that you can also file the Personal Income Tax and Wealth tax returns electronically through the Internet, between April 6 and June 30, 2022, both inclusive (with results to be paid by direct debit, up to June 27).
We must remind you that if they are submitted after the deadline, the self-employed and companies are exposed to a surcharge if they do it voluntarily (from July 11, 2021, the surcharge system is modified establishing a system of increasing surcharges, being the surcharge of 1 percent plus another 1 percent, additional, for each full month of delay and without interest for late payment until the period of twelve months of delay has elapsed. From the day following the expiration of the aforementioned twelve months, in addition to the 15 percent surcharge, interest for late payment will start to accrue) or with a penalty of between 50% and 150% of the amount of the tax return to be paid, if required by the Tax Agency.
VAT, WITHHOLDINGS AND INSTALLMENT PAYMENTS
Specifically, next April 20, the 1st QUARTER 2022 VAT and Personal Income Tax installment payments corresponding to business and professional activities, as well as withholdings on business premises rentals and capital income, must be filed and, if applicable, paid.
In the case of companies, we also remind you that next April 20 is the deadline to file the first installment payment of 2022 of the Corporate Income Tax.
In this respect, and in the current circumstances of Pandemic COVID-19, it is of special interest to analyze the accounting items (and their implications in the determination of the taxable base of the Corporate Income Tax) related to, among others, the following concepts:
- Impairment losses on investments in group, multi-group and associated companies, financial assets held for trading, inventories, property, plant and equipment, intangible assets and investment property; or investments held to maturity.
- Impairment of loans and receivables or provisions for the execution of guarantees.
- Ordinary and extraordinary write-offs and discounts granted in connection with commercial transactions.
- Losses on the sale of receivables.
- Provisions that may derive from labor reorganizations (EREs, ERTEs, modification of working conditions) or other types of restructuring of the activity.
- Provisions that may need to be recorded to reflect possible indemnities for contractual breaches.
- Moratoriums and reductions for leases of housing and commercial premises.
- Provisions for commercial transactions (sales returns and guarantees) or for onerous contracts.
- All this, without forgetting the necessary attention to a correct accounting accrual of income and expenses.
Those companies that have the status of large companies (volume of operations exceeding 6,010,121.04 Euros during the 12 months prior to the beginning of the tax period on account of which the installment payments are made), must obligatorily file form 202, regardless of the fact that they are not required to make any payment in respect of the installment payment.
Said form 202 must be compulsorily filed electronically (even if it is a “zero installment payment”), always observing the deadline for filing, which ends on April 20 (unless the payment is made by direct debit, in which case the deadline for filing ends on April 15).
For this reason, we kindly ask you to contact us in order to solve the delivery of documentation and data that we will need in order to prepare and file the tax returns.
As always, we will be at your disposal to solve any doubt or to provide any further information you may need.
With no other particulars, we send you our best regards,