Table of contents
The team of tax lawyers brings us the technical analysis of two tax developments that must be taken into account this new year 2024:
- Requirements for electronic billing computer systems
- Tax regime for entities without lucrative fines and tax incentives for patronage
1. Requirements for electronic billing computer systems
In this technical note, our tax lawyers analyze this tax novelty that will affect the application of electronic invoicing. On December 6, 2023, Royal Decree 1007/2023 was approved, which approves the Regulation that establishes the requirements that computer or electronic systems and programs that support the billing processes of businessmen and professionals must adopt, and the standardization of billing record formats, also known as “Verifactu Regulation”.
Those obliged to use these programs must do so before July 1, 2025, and producers and marketers must offer products adapted to the new specifications within a maximum period of nine months from the entry into force of the ministerial order.
Who is it addressed to?
The Verifactu Regulation is aimed at companies that make up the sector of production, manufacturing or development of computer or electronic systems and programs that support billing processes, since these programs must comply with the requirements and technical specifications contained in this standard and in the LGT.
In fact, these programs must necessarily have a responsible declaration, issued by the person or entity producing, manufacturing or developing it, which ensures that they comply with the aforementioned requirements.
Additionally, taxpayers required to use these programs are:
1. Corporate Tax Taxpayers
2. Taxpayers of Personal Income Tax who carry out economic activities.
3. Non-Resident Income Tax Taxpayers who obtain income through a permanent establishment.
4. Entities under income attribution regime that carry out economic activities.
Relationship with the entry into force of the electronic invoicing obligation
Although this regulation is compatible with the Draft Regulation on B2B electronic invoices, currently being processed by the Ministry of Economy, Commerce and Business, the entry into force of the electronic invoice obligation is still pending approval by the latter.
The entry into force of the obligation to issue and send electronic invoices to all commercial relationships between businessmen and professionals will take place in two phases:
- For those that invoice more than eight million euros annually: one year after the approval of the electronic invoice Regulation; and
- For those that do not exceed the previous threshold: two years after the approval of the aforementioned regulation.
Furthermore, the entry into force of this novelty is conditional on obtaining a community exception to articles 218 and 232 of Council Directive 2006/112/EC, of November 28, 2006, which deals with the common VAT system. .
2. Tax regime for non-profit entities and tax incentives for patronage
The second analysis by our specialist lawyers is about the tax news for non-profit entities. On December 20, 2023, Royal Decree-Law 6/2023, of December 19, was published, which, among others, modifies Law 49/2002, of December 23, 2022, on the tax regime of non-profit entities and tax incentives for patronage.
The main modifications introduced by this Royal Decree come into force from January 1, 2024, and are the following:
Requirements of non-profit entities
- The defense of animals is included as a goal of general interest;
- It is clarified that the income can be used, not only directly, but also indirectly, to achieve the general interest purposes of non-profit entities.
- And the civil liability insurance contracted by the entity for their benefit will not be considered remuneration for the positions of employer, statutory representative or member of the governing body of the non-profit entity.
Tax regime for non-profit entities
- Included are income exempt from Corporation Tax obtained in the exercise of activities related to the socio-labor insertion of people at risk of social exclusion; and with high-capacity education.
- It is clarified that the income generated by research and development activities will be included in the category of exempt income, provided that the activities carried out fit the definition of R&D included in article 35 of Law 27/2014, of 27 of November, of the Corporate Tax. Technological innovation is also included.
- It is clarified that the transfers of land or the constitution or transfer of real rights of enjoyment limiting ownership over them, carried out for consideration by a non-profit entity, will be exempt from the Tax on Increase in Value of Urban Land.
Tax regime for donations and contributions
- The transfer of use of movable or immovable property without consideration and for a specific period of time will be considered donations, donations and deductible contributions; and donations, donations and contributions of a symbolic nature, the value of which does not represent more than 15% of the value of the donation, donation or contribution and, in any case, does not exceed the amount of 25,000 euros.
- Deduction in the Personal Income Tax fee: the amount of micropatronage is increased, from 150 to 250 euros; The deduction percentage applicable to the amount that exceeds 250 euros is raised to 40%, and if donations are made to the same entity for 3 consecutive years for an amount equal to or greater than those of the previous year, the deduction percentage applicable to the amount that exceeds 250 euros will be 45%.
- Deduction in the Corporate Tax payment: the deduction percentage is increased to 40%; If donations are made to the same entity for 3 consecutive years for an amount equal to or greater than those of the previous year, the deduction percentage will be 50%; and the deductible limit is raised to 15% of the tax base for the tax period.
Here we leave you the detailed breakdown of both tax news, in which our experts make a more technical analysis of both matters:
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