Attention! The New Year is coming and with it comes the Tax News

Just as a child expects his gift for the kings’s day, you may be also anxious to know what are the main fiscal developments for 2017 and we are going to please you, today in our article we will explain what gifts brings us the new year in the field of taxes.

Let’s start strong with …

1. The Value Added Tax (VAT, “IVA”)

The things have changed, there is no possibility to postpone taxes like VAT, given the entry of liquidity that supposes for the subject that impacts (businessman) the effective payment of these taxes by the obligor to bear (consumers).

From now on it will be necessary to justify that the quotas passed on have not actually been paid in order to defer payment of the tax.

Now, NOTICE TO NAVEGANTS, deferments initiated prior to January 1, 2017, will be governed by the previous regulations.

But do you think this is all? No, other taxes have been affected by this prohibition of postponement as:

  • Withholdings and income on account (IRPF)
  • Tax assessments confirmed in full or in part by a final decision when they have been suspended during the processing of the corresponding appeal or claim in administrative or judicial.
  • The tax obligations to be fulfilled by the obligor to make fractional payments of the Corporate Tax.

2. Impact on real estate (IBI)

It can be a long time since the last checking of the cadastral values and now that the Spanish economy is not characterized precisely because it is at its best, the Government is beginning to experiment.

The phenomenon of catastrazo that will affect nothing more and nothing less than 2,452 Spanish municipalities, where most of them will suffer an increase in cadastral values, which will also result in a rise in taxes such as IBI or municipal surplus value. All this without prejudice of the bonuses that can be given for example for numerous relatives, disabled or health centres.

And which territories will be most affected? Granada, Valencia, Tarragona, Alicante and Burgos which will be the most climb.

3. Walth tax (IP):

Another major player in the area of taxes for 2017 is the wealth tax, that has been prorogued for this year 2017, and will become permanent for 2018 with an allowance of 100% of the payable tax

If there is a peculiar case among taxes is that of Heritage, a tax that was abolished in 2008, was “temporarily” restored for the years 2011 and 2012 given the fall in revenue caused by the crisis, but that today still exists To the successive extensions he has suffered. Will the Estate Tax disappear, will it be extended infinitely? What is your bet?

Another note that we must make on the Tax on the Patrimony that will also affect the Personal Income Tax (IRPF) is the obligation to exclusively present their declarations online, thus eliminating the PADRE program by the Renta Web System.

4. Corporate Taxes (IS)

The IS is not exempt from being modified, in fact, deductions are reduced to avoid double international taxation that can not exceed 50% of the taxpayer’s entire taxable amount.

On the other hand, the limits applicable to impairment charges on loans or other assets and the exemption of income obtained abroad through a permanent establishment are modified for large companies in tax periods beginning on or after 1 January 2016.

Specifically, taxpayers with a turnover of at least 20 million euros during the 12 months prior to the date on which the tax period begins, will apply the following specialities:

  • 50%, when in the referred 12 months the net turnover is at least 20 million euros but less than 60 million euros
  • 25%, when in the referred 12 months the net turnover is at least 60 million euros.


As you can see 2017 comes loaded but don’t think that this will end here, the world of taxes is a mystery day by day and leaves a thousand questions in the air, so catch the strength that arrives the FISCAL DEVELOPMENTS OF 2017. We will be at your disposal for any inquiry in the next

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