Tag: Spain
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Country-by-Country Report in Spain
The country-by-country (CbC) report is a tax report that multinational companies must submit in Spain in compliance with the rules established by the Organisation for Economic Co-operation and Development (OECD) under Action 13 of the BEPS Plan (Base Erosion and Profit Shifting). In Spain, the obligation to submit a CbC report was established through Law…
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Model 231: Everything You Need to Know
Starting from the tax period beginning January 1, 2016, companies in Bizkaia must submit Model 231, which reports country-by-country related-party transactions. The obligation does not affect a large number of companies, but it represents an important procedure for those required to file the Country-by-Country (CBC) report. What is Model 231? It is a regulation for…
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Verifactu: Ensuring Spanish Fiscal Transparency for International Companies
If you’re part of a major global group, with a small branch in Spain, despite your size, Spanish tax law demands that even a modest local office complies with national invoicing rigour. That’s where Verifactu comes in: Spain’s legal framework for secure, traceable electronic invoicing. What is Verifactu and why does it matter? Legal foundation:…
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Order HFP/1978/2016 (Spain)
The Order HFP/1978/2016, dated December 28, establishes Form 231 for the Country-by-Country Reporting (CbCR) in compliance with the recommendations of the OECD’s Base Erosion and Profit Shifting (BEPS) Action Plan. This form is designed to assess risks related to transfer pricing policies within multinational groups, but it does not allow direct adjustments by the tax authorities. Key Points:…
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Article 13.1 of the Corporate Income Tax Regulations (Spain)
Article 13.1 of the Corporate Income Tax Regulations (Reglamento del Impuesto sobre Sociedades, RIS), approved by Royal Decree 634/2015, regulates information and documentation on related entities and transactions. This article establishes that entities resident in Spain that qualify as the parent of a group, as defined in Article 18.2 of the Corporate Income Tax Law (LIS),…
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Country by Country Regulatory Framework in Spain
Country by Country (CbC) reporting is a tax transparency requirement for large multinational groups, which must disclose financial and tax information broken down by jurisdiction. In Spain, the regulatory framework has been adapted to both OECD guidelines (BEPS Action 13) and European regulations, with some specific national features. 1. Reporting Obligation: Form 231 Since 2016, Spain requires…
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Country-by-Country Reporting (CbCR) in Spain
Spain has incorporated Country-by-Country Reporting (CbCR) requirements into its domestic tax legislation, in line with OECD/G20 BEPS Action 13. These rules aim to enhance transparency for tax administrations and ensure that profits are taxed where economic activities take place. This guide outlines the main aspects of CbCR regulation in Spain, including who is subject to…
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Immediate Supply of Information (SII)
The Immediate Supply of Information (Suministro Inmediato de Información – SII) is an electronic system developed by the Spanish Tax Agency (AEAT) for the digital management of Value Added Tax (VAT). This system allows businesses to fulfill their VAT-related tax obligations more efficiently and in real time. Key Features of the SII Electronic Management System:…
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Country-by-Country Reporting (CbCR) Regulation in the Canary Islands
The Canary Islands, an autonomous community of Spain with a unique fiscal regime, are subject to Spain’s national laws on tax matters while benefiting from specific incentives as part of their Economic and Fiscal Regime (REF). However, when it comes to international tax compliance, including Country-by-Country Reporting (CbCR), multinational enterprises (MNEs) operating in or through…
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Country-by-Country Reporting (CbCR) Regulation in Navarra
Navarra, an autonomous region in Spain with its own fiscal autonomy, implements international tax regulations in line with the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Action Plan, specifically Action 13, which focuses on Country-by-Country Reporting (CbCR). The CbCR regime requires large multinational enterprise (MNE) groups to disclose detailed…
