As you already know, there is an obligation to report all transactions with related parties that exceed € 250,000 during the year.
To date, such data was reported on form 200 at the time of filing the corporate tax return, but as a result of the new corporate tax law, it was established that such information would be provided through a special form. Including a new formal obligation for companies, if they were few.
The form in question is form 232 which was approved and published in the BOE in August and you can see it here:
When is it filed?
The filing of form 232 of “Informative declaration of related operations and operations and situations related to countries or territories classified as tax heavens” must be made in the month following the ten months after the conclusion of the tax period to which the information has to be provided.
As a general rule, for companies that close the year on December 31, Form 232 will be presented during the month of November of the following year.
What operations are declared?
a) Transactions carried out with the same person or related entity, if the amount of the operations in the tax period exceeds 250,000 euros, according to the market value.
b) Specific operations, provided that the joint amount of each of these types of operations in the tax period exceeds 100,000 euros.
c) Regardless of the amount of consideration for all transactions carried out with the same person or related entity, there will always be an obligation to submit form 232 and fill in the “Information on operations with related persons or entities with respect to operations of the same type which in turn use the same valuation method, provided that the total amount of said transactions in the tax period exceeds 50% of the entity’s turnover.
What information should it contain?
The form will contain the same information as previously recorded in corporate income tax form 200. That is identification of the related person, amount of the operation, type of operation and valuation method chosen.
As always at GM Tax we will be happy to advise you on all doubts regarding this new obligation and any tax consultation you may need. Contact our tax advisors in Barcelona.
