- The deferred VAT (IVA diferido) allows companies to postpone paying import VAT until the tax self-assessment, improving cash flow.
- To benefit, companies must apply in November before the year they want it to take effect, by submitting a declaration to the Spanish Tax Agency.
- Eligible companies must be registered in REDEME (monthly VAT refund regime) and comply with the Immediate Supply of Information (SII) system.
- Importers who do not file monthly VAT returns cannot use this mechanism.
Source: ayming.es
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.
Latest Posts in "Spain"
- Draft Law to Implement First Phase of EU’s VAT in the Digital Age (ViDA) Directive
- Spanish Tax Agency Dismantles €300 Million VAT Fraud Ring in Hydrocarbon Sector, Arrests Five
- Tax Agency Dismantles Major VAT Fraud Network in Spanish Hydrocarbons Sector, 300 Million Euros Defrauded
- Spanish Tax Agency Dismantles €300 Million Hydrocarbon VAT Fraud Network, Arrests Five
- Spanish Tax Agency Dismantles €300 Million Hydrocarbon VAT Fraud Network, Arrests Five in Major Operation
