By Monica Lopez, teacher of Master in Financial Management from the EIP International Business School
Tax current account: an option to take into account
In art. 138 to 143 of the Royal Decree 1065/2007 of July 27, of the General Regulation of the actions and procedures of tax management and inspection and development of the common normal procedures for the application of taxes, the operation of this peculiar tax payment system is covered.
It consists of an account opened with the Tax Agency, just as in a bank account, amounts pending refund are entered, as well as amounts pending payment, so that they are offset against each other automatically without the need to request ad compensation. hoc.
In this system, taxes on personal income, corporate taxes, non-resident taxes and Value Added Tax (VAT) can be included, but self-assessments submitted after the deadline cannot be included, which are arising from provisional or definitive settlements carried out by the Tax Administration Bodies, VAT debts on imports except those that take advantage of the option of deferral of income, nor returns from special review procedures and resolutions of appeals and claims.
You can request your raid In this system, all those who are required to periodically submit self-assessments for VAT, withholdings or payments to accounts, as well as who are creditors of the Tax Administration for continuous refunds (such as the monthly VAT refund).
Likewise, have credits recognized in the previous year of said request that represent at least 40% of the tax debts accrued in the same period, always taking into account for this calculation the credits and debts that we have mentioned that may be recorded in the account.
It is also required to be up to date with tax obligations, presentation and payment, as well as not have penalties pending payment in the executive period, nor civil liabilities derived from crimes against the Public Treasury through a final sentence.
They remain excluded of the option to this system those who had resigned in the previous calendar year or during the one in which the request for inclusion is submitted.
The tax agency, in the days March 31, June 30, September 30 and December 31 of each fiscal year, carries out the corresponding settlements of all the entries made, granting 10 days to formulate allegations, passing this period to 15 days, they issue a resolution with the provisional settlement, after which the amount would have to be paid in the event that the settlement was positive or You will receive the refund in cases where that is the result.
It is a good option for companies that are subject to REDEE ME so you can offset tax payments directly with VAT refunds without your request, and sometimes cancel all credits automatically.
Do you want to specialize in Financial Management?
In it Master of Financial Management of the EIP International Business School You will learn how to carry out this exercise and all those that are carried out in the company environment.
The Master in Financial Management will train you to meet the accounting, tax and commercial obligations to which all companies and professionals are subject that carry out their activity within the Spanish national territory.
