- In Spain, timely and accurate VAT compliance is crucial for businesses. Penalties apply for late VAT filing or payment, with a surcharge of 1% for payments up to one month late, increasing by 1% for each additional month, up to 12 months. Delays over 12 months incur a 15% penalty plus interest. Payments from foreign accounts face higher penalties of 5%, 10%, or 20%. Late VAT registration typically doesn’t incur separate fines, but penalties may arise during subsequent filings. Paying fines on time can reduce them by 25%. It’s important to meet deadlines to avoid penalties and interest.
Source: eurofiscalis.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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