The Intrastat Declaration is a report that is required from companies in Spain that import or export goods from other countries in the European Union.
If you are a business owner, you may be required to file such a declaration. Though the process of filing Intrastat declarations can be daunting for those unfamiliar with the system. This article will provide a brief overview of what Intrastat declarations are and how to file them in Spain.
What is Intrastat?
Intrastat is a system that the European Union uses to collect statistics on the trade in goods between its Member States. The system was introduced in 1993, and it is managed by the European Commission.
Under Intrastat, businesses have to provide information about their imports and exports of goods to the national statistical agency in their country. This information is then used to produce statistics on the trade in goods between EU countries.
The Intrastat system helps businesses comply with EU customs regulations, and it also provides valuable data that can be used by businesses and policymakers to make informed trade decisions.
Who must file the Intrastat declaration?
Companies that engage in the following activities must file the Intrastat declaration:
- Importing goods from another EU Member State;
- Exporting goods to another EU Member State;
- Acquiring goods from another EU Member State for use in their own production process;
- Supplying goods to another EU Member State for use in the production process of that member state.
In Spain, the Intrastat declaration must be submitted by businesses that engage in the import or export of goods with a value exceeding €600,000 per year.
Required information for Intrastat Declarations
The information that is required in an Intrastat declaration includes:
- The country of origin and destination of the goods;
- The commodity code of the goods being traded;
- The mode of transport used;
- The value of the goods being traded;
- The quantity of the goods being traded.
To make an accurate and complete Intrastat declaration, businesses need to keep accurate records of their transactions. This includes keeping track of both incoming and outgoing shipments, as well as ensuring that all relevant information is included on invoices and other documentation.
Types of Intrastat declarations
There are two types of Intrastat declarations in Spain: the Standard Declaration and the Detailed Declaration.
The Standard Declaration is a simplified declaration that can be used when the value of goods traded within Spain is below a certain threshold. This threshold is currently set at €400,000 per year.
The Detailed Declaration, on the other hand, must be used when the value of goods traded within Spain exceeds the €400,000 threshold. The Detailed Declaration requires businesses to provide more information about each transaction, such as the commodity code and quantity of goods traded.
In Spain, these declarations must be submitted electronically to the Spanish Tax Agency every month.
When must the Intrastat declaration be filed?
The declaration must be filed every month and must be received by the Spanish authorities no later than the 10th day of the month following the month in which the trade took place.
Companies that are required to file an Intrastat declaration must have a valid VAT number and must be registered with the Spanish Commerce Registry. In addition, companies must have a valid EORI number in order to file their declaration.
Failure to comply with the filing requirements can result in severe penalties, including fines and jail time. Therefore, companies need to ensure that they comply with all filing requirements before engaging in any cross-border trade.
In conclusion, the Intrastat Declaration in Spain is a necessary process for businesses that wish to trade within the country. It is important to be aware of the deadlines and requirements set forth by the government in order to avoid any penalties. With the proper preparation, businesses can take advantage of the many opportunities available to them through trade within Spain.
If you have any questions regarding this topic, please contact our tax advisors in Barcelona.