In the following we summarized some important filing deadlines. We trust the information will be of interest.
Please keep in mind that 22nd of January 2024 is the deadline for filing, among others, the following tax returns (quarterly/monthly – as applicable):
- Form 111: For withholdings and payments on account of Personal Income Tax on earned income and business activities income.
- Form 115: For withholdings and payments on account on income from the leasing of urban properties.
- Form 123: For withholdings arising from investment income (interest, paid dividends, etc.).
- Form 216: For payments made and accrued charges to non-residents (interest, dividends, royalties, etc.).
In addition, we would also like to remind you that 30th of January 2024 is the deadline for filing, among others, the following tax returns (quarterly/monthly):
- Form 303 and 322: VAT return.
- Form 349: Intra-Community transactions disclosure statement.
- Form 390: VAT annual summary-tax return.
Those taxpayers who are obliged to keep the VAT registry books through the AEAT (Immediate Supply of Information or IIS) will not have an obligation to submit this form but will have to fill in the additional information boxes in Form 303.
The filing deadline for the above self-assessments, with the payment method direct debit is the 17th of January 2024. In case of the monthly/quarterly VAT self-assessment, filing deadline is 25th of January 2024.
Moreover, the following tax returns must be filed by 31st of January 2024, too:
- Form 180: Annual summary of withholdings and payments on account on income from the leasing of urban properties.
- Form 190: Annual summary of withholdings and payments on account on earned income and business activities income.
- Form 193: Annual summary of withholding and payments on account on investment income.
- Form 296: Annual summary of withholdings and payments on account on payments made or accrued to non-residents (interest, dividends, royalties, etc.).
Modification of the status of Large Company
During the month of January 2024, the Tax Agency shall be notified of the acquisition or loss of the status of Large Company. The criteria to be considered is the VAT turnover for the 2023 financial year, the limit being EUR 6,010,121.04.
If you have become a large company, VAT returns and withholdings must be filed on a monthly basis.
Option of the mechanism for calculating the instalment payments of Company Income Tax
During the month of February 2024, companies (whose net turnover does not exceed EUR 6 million) have the option of choosing as the basis for calculating the installment payments on account of corporate income tax the part of the taxable income of the period of three, nine or eleven months of the calendar year, notifying the Tax Administration by means of a census declaration, form 036.
This option may be of interest to companies that expect a significantly lower result in the financial year 2024 than obtained in 2022 and/or 2023, since it allows adjusting the instalment payments on basis of the current financial year’s results.
Does the financial year not coincide with the calendar year, the option must be exercised within 2 months from the beginning of that tax period.
Furthermore, please note that the deadline for filing Form 347 “Annual Declaration of Transactions with Third Parties” is February 28th, 2024.
Finally, we would also like to remind you that the deadline for filing Form 720 “Informative Declaration of Assets and Rights Located Abroad” ends on April 1st, 2024.
If you have further questions, please don’t hesitate to reach out to your contact person in our Office.
