Regulatory Analysis

The Spanish Tax Office has issued a new order No. HFP/1284/2023 on November 30, 2023, which contains the regulatory approval of a new model 430 “Tax on Insurance Premiums”. In Spain, the Model 430 is used to declare the self-assessed Insurance Premium Tax (IPT) on a monthly basis. The model update aimed to harmonize the […]

On the 19 December 2022, the Agencia Estatal de Administración Tributaria (AEAT) published the new Modelo 480 for future submissions, including 2022, in the Spanish Gazette. Alongside this, an extension for the annual tax submission has been confirmed, with submissions allowed up to 31 January. This is a positive change as it allows for more […]

The system of penalties/surcharges for late submission without prior requirement by the Tax Authorities (Art. 27.2 LGT 58/2003) has been modified by the Act 11/2021 published on Saturday 10 July 2021 in the Spanish Gazette (BOE) and came into force on Sunday 11 July 2021. The new rule brings changes to the penalties/surcharges system. The […]

The Spanish Government presented its Budget Law project for 2021 on 28 October 2020. The project includes a plan to increase the insurance premium tax (IPT) rate from 6% to 8%.  This move would increase the revenue generated by IPT in Spain by one third. The Budget Law project will now be debated and votes […]

The Consorcio de Compensación de Seguros (CCS) now requires insurance companies to report and declare the surcharge to the Environmental Damage Compensations Fund through its new reporting system (SIR). This requirement took effect on 01 July 2019. As for Extraordinary Risks surcharges, detailed information on the policies subject to the 8% Environmental surcharge must now […]