TEAC establishes precedent: refunds from rectifications of Corporate Tax self-assessments are not undue payments
Tag: corporate tax
The Supreme Court enables the deduction of Corporate Tax in prescribed fiscal years
The Supreme Court has endorsed the possibility for entities to deduct, within the scope of Corporate Tax, amounts that have been incorrectly recorded in different fiscal periods, even when the period in which the records were made has expired. In this regard, the high court contradicts the criterion held by the tax administration, which argues… Continue reading The Supreme Court enables the deduction of Corporate Tax in prescribed fiscal years
Tax advisor: The General Court of the European Union annuls the decision of the European Commission that declared illegal the deduction regime for indirect acquisitions in non-resident companies
The General Court of the European Union, in five judgments on September 27 th , 2023, related to cases T-826/14, T-12/15, T-158/15 and T-258/15 (consolidated), T- 252/15 and T-257/15 (consolidated), T-253/15 and T-256/15 and T-260/15 (consolidated), annuls Commission Decision (EU) 2015/314 of October 15 th , 2014, concerning state aid granted by Spain in the… Continue reading Tax advisor: The General Court of the European Union annuls the decision of the European Commission that declared illegal the deduction regime for indirect acquisitions in non-resident companies
Tax advisor: How to avoid tax penalties in case of an intermediary company?
Issuing invoices for professional services using an intermediary entity may raise doubts on the part of the tax authorities. The tax authorities tend to consider the creation of Single-Member Limited Liability Company (SLU) as suspicious when there is no real business structure behind it, which could lead to accusations of tax evasion. To avoid possible… Continue reading Tax advisor: How to avoid tax penalties in case of an intermediary company?
Tax Advisor: Corporate Income Tax Incentives and how to access them
Small companies can access corporate tax incentives, which means that those companies with a turnover of less than 10 million euros in the previous year can enjoy these benefits. These companies can take advantage of benefits such as free depreciation for investments in tangible fixed assets and real estate investments that generate employment. To qualify… Continue reading Tax Advisor: Corporate Income Tax Incentives and how to access them
Tax Advisor: The Superior Court of Justice of Madrid states that, if there is no evidence of a relationship between expenses and income, budgets are not deductible in Corporate Tax
The Chamber begins by pointing out that the entity’s budgets do not support the relationship between the expenses in question and the income. The volume of operations of the company does not demonstrate that the expenses on restaurants, gasoline or gifts are linked to the profits derived from the commercial relationship with the clients. As… Continue reading Tax Advisor: The Superior Court of Justice of Madrid states that, if there is no evidence of a relationship between expenses and income, budgets are not deductible in Corporate Tax
Tax advisor: Are the invoicing services provided by the pharmaceutical association to certain members of the association, who pay a fee, exempt from VAT?
The plaintiff professional association was subject to inspections that led to the imposition of VAT and IS assessments for the years 2014 to 2017 (VAT) and 2013 to 2017 (IS). The Administration considered that the invoicing services provided by the Official College of Pharmacists to the members of the college owning pharmacy offices should be… Continue reading Tax advisor: Are the invoicing services provided by the pharmaceutical association to certain members of the association, who pay a fee, exempt from VAT?
Tax advisor: Can the remuneration of the partner/administrator/empowered be deducted if it is duly registered and supported by documents?
The contested ruling holds that even if the spouses do not perform the activities invoiced and the partnership hires third parties for such activities, the same conclusion cannot be applied to them due to their status as absolute owners and controllers of the partnership, which precludes considering their relationship as an employment relationship. The Supreme… Continue reading Tax advisor: Can the remuneration of the partner/administrator/empowered be deducted if it is duly registered and supported by documents?
Tax advisor: Tax benefits that small companies can use in the Corporate Income Tax
In this corporate tax filing season, it is important to remember that small companies are entitled to attractive tax incentives, such as the freedom of depreciation for job creation or double depreciation. Below we will explain what these incentives are and the requirements that must be met. It is essential to bear in mind that… Continue reading Tax advisor: Tax benefits that small companies can use in the Corporate Income Tax
Tax advisor: Possibility of deducting the remuneration of the directors of a company in the Corporate Tax
The consideration of the deduction as an expense of the partners’ salary in Corporate Tax has been the subject of controversy between the Tax Authorities and the companies, an issue on which the Supreme Court has issued several opinions, although not in an enlightening manner. In the recent Supreme Court Ruling of June 27th (not… Continue reading Tax advisor: Possibility of deducting the remuneration of the directors of a company in the Corporate Tax