Spain: Deadline for certain VAT elections required by 30 December 2020

Spain: Deadline for certain VAT elections

The value added tax (VAT) rules provide that certain election requests must be made during the month of December 2020 to be effective beginning 1 January 2021. The deadline for making these election requests ends on 30 December 2020.

1000

Related content

The subject election requests include:

  • Application for the special VAT group regime that allows monthly application of the VAT rules for all members of the VAT group
  • Application of the special regime for cash
  • Application for a common deduction scheme for different sectors of activity
  • Application of the special regime for agriculture
  • Application regarding taxation under the distance sales regime for sales made into other EU countries

In addition, entities that qualify for “large company” status must comply with certain requirements for electronic record-keeping and with supplying billing records, effective 1 January 2021 (independent of the requirement to notify the tax administration when large company status has been satisfied in the month of January 2021).
 

Read a December 2020 report (Spanish) [PDF 143 KB] prepared by the KPMG member firm in Spain

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal