All registered businesses in Spain must filed VAT returns on a monthly, quarterly or annual basis. These returns inform the tax authorities about the transactions performed during the reported period and they calculate the amount of VAT payable or recoverable from the tax authorities.
It is important to understand the rules on frequency of filing to make sure that your company files the VAT return for the correct period. Penalties will apply if the wrong period is reported. Also the due dates are important, as these are often changed depending on the public holidays of every country. We suggest creating a due date calendar with all your VAT, ESL and Intrastat deadlines in Europe. If you need help, Marosa will be happy to assist your company with this calendar.
Finally, businesses often disregard the rules on VAT payments and VAT refunds. In practice, it is important to understand whether you need a local bank account, what reference should be included in the bank transfer and which account should be used to make the payment. Likewise, VAT refunds have different rules in every country. Some jurisdictions require an additional form to be submitted, other countries require the VAT refund to be carried forward until the end of the year and others only make refunds to local bank accounts.
This section also explains the applicable penalties in the country for late filing an late payment, whether a nil VAT return has to be submitted if no transactions are reported, how to correct VAT returns and where to contact the local tax authorities.