Articles 279 et seq. of the Capital Companies Law (LSC) regulate the Deposit and Publicity of the annual accounts.
In particular, article 283 establishes the penalty system foreseen in case of non-compliance with the obligation, by companies, to deposit annual accounts, with penalties reaching up 60,000 euros in the case of SMEs.
Recently, the Supreme Court through its judgment of February 8, 2021, appeal No. 3071/2019, resolves that for the purposes of Corporation Tax, late payment interest is considered a tax deductible expense, contrary to what is maintained by the Tax Administration.
On January 5, 2021, a Resolution of the General Directorate of Taxes, of January 4, was published on the refund of Value Added Tax to entrepreneurs or professionals established in the territories of the United Kingdom of Great Britain and Northern Ireland . The recognition of reciprocity is not absolute. The following VAT will not be subject to refund in Spain:
By means of Law 11/2020, of December 30, on General State Budgets for the year 2021, a series of modifications have been introduced in the Corporate Income Tax Law, mainly affecting the treatment that article 21 of the aforementioned Law gave the Exemption on dividends and income derived from the transfer of shares representing the own funds of resident and non-resident entities in Spanish territory.
In the recent decision of the Supreme Court (hereinafter, TS) of December 3, 2020, R. CASACION núm.: 7763/2019 establishes that late payment interest from a refund of unduly paid taxes should not be taxed as it is considered as not subject to the Personal Income Tax (hereinafter, IRPF). It is noteworthy that said sentence has a private vote that considers that this should be taxed as a capital gain.
On the other hand, in the same judgment, considerations are made that...