Value Added Tax in local language is "Impuesto sobre el Valor Añadido" (IVA)

Cash accounting scheme in Spain

This regime is available in Spain. An application for Cash accounting regime must be made and the following requirements must be met:

  • A registration form must be filed during the month of December of the year prior to the application of the regime.
  • Only businesses with a turnover below 2M€ can apply.
  • Business gifts are 0% deductible unless for promotion samples or low value gifts (less than 200€ per year)
  • A number of transactions and sectors are excluded: fisheries industry, agriculture, simplified margin scheme for SME, intra-Community acquisitions, reverse charge supplies and imports.
  • The application of this regime must be stated on the invoice.
  • Additional information should be included in the VAT books for supplies under this regime
  • All these supplies should be reported separately in the Annual Sales and Purchases Listing (Form 347)

Do you want to receive updates on this info?

We use cookies to offer an improved online experience. More information