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 information contained in model 480, which is the annual return to declare IPT, with this new model 430. Model 480 has been revised last year, with the initial application for the year of 2022.
The following changes were made to the new model 430:
- The name and tax ID of the fiscal representative (if any) were removed from the form.
- The address of the insurance company was deleted from the new model.
There will be no changes on model 430 regarding:
- The identification number of the model, which will remain a sequential number with the first three digits corresponding to code 430, will stay unchanged.
- Any transactions that are subject to premium tax and not exempt from IPT should be presented on the model.
- The submission deadline remains the 20th of the month following the reporting period.
The new model 430 will be accessible in electronic format only and the submission must be made electronically.
The new model should be used for the first time to report IPT for January 2024, meaning that the first submission of this model is due by February 20, 2024.
