On 30 August 2017, “Order HFP/816/2017, of 28 August, approving form model 232 for the informative disclosure of related transactions and transactions and situations relating to countries or territories considered tax havens”, (hereinafter, the "Order") was published in the Official State Gazette.
The Order seeks to move the information boxes relating to the awareness of related transactions contained on page 20 of the Corporate Tax Declaration model form (model 200), creating a new disclosure statement to expressly provide information on transactions with related persons or entities.
Furthermore, this model form seeks to collect information on those related transactions specifically described in the Law on Corporate Tax ('LCT'), from transactions to which the reduction of income from certain intangible assets applies (art. 23 LCT), and lastly awareness of those transactions carried out with entities located in tax havens, whether or not they are related transactions.
The Order confirms most of the issues set out in the Draft Ministerial Order (hereinafter, the "Draft"), published by the Spanish Tax Agency last April. However, it is worth mentioning that it has undergone some amendments as compared to the above-mentioned Draft.
The most relevant amendment corresponds to the date of presentation of form model 232. The form must be presented during the month following the ten months following the end of the tax period to which the information supplied refers. In other words, those entities whose tax period ends on 31 December, must present the form in November of the following financial year. Thus, the deadline period set out in the Draft, the month of May following the tax year to which the information referred, has been amended.
On the other hand, it establishes that only taxpayers paying Corporate Tax and Non-Residents’ Income Tax acting through a permanent establishment, are obliged to present this form, as well as entities covered by the income from abroad allocation regime present in the territory of Spain. Likewise, there are certain amendments clarifying the information to be included in form 232.
For more information, we recommend that you seek advice from our finance and tax experts in Spain.