Regulatory Analysis


 
Posted July 13, 2021 by Hector Fernandez
TAX ALERT: SPANISH SURCHARGES LATE SUBMISSION

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 […]

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Posted October 29, 2020 by Christophe Bourdaire
Spain – Plan to Increase the IPT Rate From 6% to 8% in 2021

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 […]

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Posted July 11, 2019 by Christophe Bourdaire
Spain – Environmental Surcharge to be Reported to the New Consorcio Reporting System

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 […]

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