BackWe will now discuss how to complete the annual VAT summary form in relation to transactions carried out under the simplified regime. Before delving into this analysis, it is important to note that VAT taxpayers who are required to file periodic payment returns with a quarterly settlement period, and who only carry out activities that are subject to the simplified VAT regime and/or urban real estate leasing activities in common territory, are exempt from filing form 390.
Simplified regime activities
We will specify which are the modules of the simplified regime activities, as well as the resulting annual quotas. Specifically, we rely on box 66, in which the heading of the Economic Activities Tax (IAE) must be shown.
– Module units, stating the number of these according to the modules foreseen.
– The amount, resulting from multiplying the module units used by the amount given in the ministerial order for each of them.
– The result of adding the amounts corresponding to the established modules will be the quota accrued for current operations.
– In relation to the quotas borne by current operations, the amount of taxes borne or paid during the tax period for the purchase or import of goods and services other than fixed assets used in the activity will be indicated. For these purposes, fixed assets are considered to be those included in fixed assets.
– Corrective index, to be indicated when applicable and if it is a seasonal activity, which means that it is only carried out during certain periods throughout the year, never in excess of 180 days per year.
– The result, which will be obtained by calculating the difference between the quota accrued and the quotas supported by current operations.
– Percentage of the minimum quota, according to the modules of the special simplified VAT regime.
– The refund of the quotas borne in other countries.
– The minimum tax payable will be recorded as the result of multiplying the percentage established in box G by the amount of the amount due for the usual operations indicated in box C.
– The tax liability derived from the simplified regime shall be recorded considering the higher amounts in box F and box I.
Boxes of accrued VAT
– Box 74: sum of the installments derived from the simplified regime and from activities other than agricultural, livestock or forestry activities.
– Box 75: sum of the installments derived from the simplified regime from agricultural, livestock and forestry activities.
– Box 76: tax payable on intra-Community acquisitions of goods.
– Box 77: tax payable due to the investment of a taxpayer, such as the intra-Community acquisition of services.
– Box 78: tax payable on the delivery of tangible and intangible fixed assets.
– Box 79: the total of the resulting quota, adding all the previous boxes.
Boxes for deductible VAT
– Box 80: tax paid on the acquisition of fixed assets and which are deductible.
– Box 81: regularization of investment goods. If the result of this adjustment reduces the deductions, the result will be negative.
– Box 82: the sum of the deductions obtained in the two previous boxes.
– Box 83: result of the simplified regime, obtained with the difference between the total VAT accrued and the sum of the deductions.
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