New tax form “232” – Informative statement about related operations and transactions with so-called tax havens
I. Information to be included in the tax form “232”
The new informative statement “232”, to be submitted with Euro amounts, is divided into three different report groups:
1. Transactions with related persons or enterprises (art. 13.4 CIT Regulation)
• with one and the same related person or enterprise, where the total consideration of all transactions performed during the tax period exceeds 250,000 Euros market value,
• (new) “specific“ transactions with related persons or enterprises, where the corresponding total amount exceeds 100,000 Euros, with the following transactions to be understood as “specific“:
a. transactions performed by natural persons liable to income tax derived from business activities subject to the special estimation procedure with enterprises in which either these natural persons or their spouses, ascendants or descendants, individually or together, hold at least 25% of the share capital or the equity;
b. business transfers;
c. transfer of securities not admitted to trading on a regulated market or admitted to trading on a regulated market in a so-called tax haven, or of participations in the capital of any enterprise;
d. transfer of properties;
e. transactions regarding intangible assets;
f. transactions with one and the same related person or enterprise of the same type and subject to the same valuation method, where the total value within the tax period exceeds 50% of the Company’s net sales, without prejudice of the corresponding compensation value.
2. Transactions with related persons or enterprises subject to reductions for income derived from determined intangible assets (art. 23 and TA 20 CIT Law)
3. Transactions and situations in connection with so-called tax havens, for whatever amount.
II. Information not to be included in the tax form “232”
The following transactions must not necessarily be mentioned in the tax form:
• the ones performed between enterprises that belong to the same fiscal consolidation group,
• transactions performed by economic interest grouping with their own partners or with enterprises that belong to the same fiscal consolidation group, or performed by consortia registered in the special register of the Ministry of Public Finances, excluding consortia or analogue corporations under the special system according to art. 22 Corporate Income Tax Law,
• transactions within public asset sales or takeover offers.
III. Submission and due date
With regard to tax periods starting on 1st January 2016, the form “232“ must be submitted via the online portal of the Spanish Tax Authorities AEAT.
Generally speaking, the due date shall be within the eleventh month after terminating the tax period the informative statement refers to. In other words: where the tax-payer’s financial year coincides with the calendar year, ending on 31st December, the form “232“ can be submitted throughout the month of November of the following year, i.e. four months after the due date for Corporate Income Tax.