The deadline for submitting the informative declaration of related transactions and situations related to countries or territories classified as tax havens during the 2021 fiscal year (Model 232) ends on November 30 (for entities whose tax period coincides with the calendar year).
We remind you that the deadline for submitting the informative declaration of related transactions and situations related to countries or territories classified as tax havens during the 2021 financial year (Model 232) ends on November 30.
It is an informative model that includes the company's operations with related persons or entities carried out in the previous year, in this case 2021.
These are related entities or persons: An entity and its partners, administrators, and their spouses or relatives up to the third degree; two entities belonging to the same group and their partners, administrators and their spouses or relatives up to the third degree; one entity and another in which it holds at least 25% of the share capital.
What operations are presented in form 232?
- Transactions with related persons or entities, in compliance with the obligation provided for in the rule to include, in the declarations provided for, the information relating to related transactions.
- Transactions with related parties in the event of application of the reduction of income from certain intangible assets
- Operations and situations related to countries or territories considered as tax havens.
Which transactions are excluded from the obligation to file form 232?
- Tax groups (regardless of the volume of operations).
- AIE, UTE (regardless of the volume of operations) with the exception of UTE or other similar forms of collaboration that qualify for the exemption of income obtained abroad through a Permanent Establishment.
- Transactions carried out within the scope of public offerings for sale or public offerings for the acquisition of securities (regardless of the volume of transactions).
What is the deadline for submission?
For transactions accrued during the 2021 fiscal year (whose tax period coincides with the calendar year), the deadline for submitting the form is 30/11/2022.
For all other entities (tax period does not coincide with the calendar year): in the month following the ten months after the end of the tax period.
Who is required to file form 232?
It must be submitted by taxpayers subject to Corporation Tax and Non-Resident Income Tax who operate through a permanent establishment and entities under the income attribution regime established abroad with a presence in Spanish territory that carry out the following operations with related persons or entities:
- Transactions carried out with the same related person or entity, provided that the total consideration for all transactions in the tax period exceeds €250,000 in market value.
- Specific operations, provided that the total amount of each of these operations in the tax period exceeds €100,000 (sales of real estate, shares, etc.).
- When there are transactions of the same type that, in turn, use the same valuation method, provided that the total amount of these transactions in the tax period is greater than 50% of the entity's turnover.
- If the reduction of income from certain intangible assets is applied, when obtaining income as a result of the transfer of certain intangibles to related persons or entities.
- In those cases where the taxpayer carries out operations and has assets in countries or territories classified as tax havens regardless of the amount.
It is important to emphasize the importance of correctly declaring and submitting these transactions on form 232, since, under Article 198 of the General Tax Law, the Tax Agency can impose a penalty of €20 per omitted item, with a minimum of €300 and a maximum of €20,000. However, if the declaration is submitted late without prior notification, the penalty and limits mentioned above are reduced by half.
Furthermore, submitting an incorrect, inaccurate or false form 232 exposes the taxpayer to a proportional fine of up to 2% of the amount of the undeclared or incorrectly declared transactions, with a minimum of €500.
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A Àmbit Assessor, SL has 40 years dedicated to the tax, comptable and labor consultancy of the Pime.
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