Newsletter #7

[16/07/2024| 

Dear Customers and Friends, Thousands of accountants are in the process of closing and submitting company tax returns.

Please be advised that, in accordance with the order issued by the Secretary of State for Tax Affairs on June 14, 2024, the deadline for submitting the IES/DA has been extended to July 31, 2024, without any surcharges or penalties. In addition, companies must make their first IRC payment on account during this month. 

As usual, we are sharing a number of topics, the documentation for which can be found in the respective annexes below. 

Please do not hesitate to get in touch if you need any clarification. 

Best regards, 

#1 - Bad debts not covered by article 41 - Tax consequences of their derecognition

Binding information from the AT, Case no. 2013 001629 

Tax effects of derecognizing bad debts not covered by article 41, which have been in arrears for more than two years and have a 100% impairment loss duly accounted for. 

Supporting documentation to be included in the tax file. 

#2 - ICE - Eligibility of the special reserve relating to the DLRR for the purposes of the ICE as well

Binding information from AT, Case no. 25803 

Eligibility to use both tax benefits simultaneously. 

#3 - IMT and IS - Exchange of present goods for future goods

Case no. 309/2022-T 

Assessment of Municipal Property Transfer Tax (IMT) and Stamp Duty (IS) in the event of the exchange of present goods for future goods. 

#4 - IMT - Exchange

Ruling of the South Central Administrative Court - Case no. 134/12.9BEBJA 

Assessment of IMT in the case of an exchange of immovable property for movable property or for any provision of services