There are a series of tax obligations for companies in the months of March and April. In these months certain accounting and mercantile obligations begin to accrue.
- Tax obligations
- Mercantile obligations
Tax obligations for companies in 2021
As for the Corporate Income Tax (IS) return, it must be filed within 25 calendar days following the 6 months after the end of the tax period. Thus, for taxpayers whose fiscal year coincides with the calendar year, the deadline is the first 25 calendar days of July. That is, until July 26th, 2021 for the IS of the year 2020. For direct debit payment, the deadline will be from July 1st to July 21st, 2021.
This year, unlike what happened in 2019 (RDL 08/2020), the deadlines for these tax obligations have not been altered.
The experts at our tax consulting department remind us of the ordinary maximum deadline and the regulatory reference for companies where the corporate year coincides with the calendar year:
- Formulation of annual accounts (art 253, LSC). There are 3 months, counting from the closing of the corporate year (31/03/2021).
- Approval of the annual accounts (art 164, LSC). There are 6 months, counted from the closing of the fiscal year (06/30/2021).
- Deposit of annual accounts (art 279, LSC). In this case 1 month, counted from the approval of the annual accounts (30/07/2021).
- Filing of books with the RM (art 27.3 of the Commercial Code). 4 months, counted from the closing of the fiscal year (30/04/2021).
Telematic Meetings for Corporations
As we already reported in past articles, it is facilitated, during 2021, the holding of meetings of administrative bodies in legal entities under private law. They may be held exclusively by telematic means with the same guarantees that have been required for the use of these means during the validity of Royal Decree-Law 8/2020.
Penalty regime for failure to file Annual Financial Statements
The sanctioning regime for non-compliance with the obligation to file the annual accounts has recently been approved.
It is included in Royal Decree 2/2021, which approves the Regulations for the development of Law 22/2015 on Account Auditing.
The criteria for determining the amount of the penalty, in accordance with the limits established in Article 283 of the revised text of the Capital Companies Act, approved by Royal Legislative Decree 1/2010, of July 2, shall be as follows.
- The penalty shall be 0.5 per thousand of the total amount of the asset items. Plus 0.5 per thousand of the sales figure of the entity included in the last declaration filed with the Tax Administration. The original must be provided during the processing of the procedure.
- In the event of not providing the tax return mentioned in the previous letter, the penalty will be set at 2% of the capital stock, according to the data recorded in the Mercantile Registry.
- In the event that the tax return is filed, and the result of applying the aforementioned percentages to the sum of the asset and sales items is greater than 2% of the capital stock, the penalty will be quantified in the latter reduced by 10%.
For all of the above, it is very important to comply with the above mentioned obligations.