An additional legal disposition is incorporated relating to deferrals and instalments of tax debts by the AEAT (State Tax Administration Agency) which raises the regulatory rank, but does not modify the exempt limit.
The prorate rule (general or special) is an adjustment which consists of calculating the proportion of transactions right to deduct VAT in relation to the total volume of transactions carried out in the year.
The annual accounts must be prepared within three months of the end of the financial year and approved by the General Meeting within six months of the end of the financial year.
All invoices, whether electronic or on paper, in structured or unstructured format, must guarantee their legibility, authenticity and integrity.
On the sale of a property, provided that the transfer value is higher than the acquisition value, the capital gain generated must be declared for non-resident income tax purposes.