From November 1, 2023, to January 31, 2024, various deadlines are open for making certain choices and waivers related to VAT with the State Tax Administration Agency (AEAT).
1.VAT REFUND REGIME
Applications for registration in the Monthly Refund Register (REDEME) will be made during the month of November to take effect from January 1, 2024, by submitting the model 036.
Inclusion can also be requested during the period for filing periodic tax returns. In this case, registration will take effect the day after the end of the reporting period for these returns, which is the following month.
Voluntary withdrawal requests from the register should be submitted in the month of November of the previous year for the effects to take place.
Re-enrollment in the register cannot be requested in the same calendar year for which the taxable person requested the withdrawal.
2.DEFERRED VAT ON IMPORTS REGIME
Taxable individuals who wish to defer the payment of Import VAT must do so by submitting the model 036 during the month of November preceding the start of the calendar year in which it should take effect. It will be extended for subsequent years until a waiver (also in November) or exclusion is made.
3.COMMON DEDUCTION REGIME FOR DIFFERENTIATED SECTORS
The application for the common deduction regime for differentiated sectors for 2024 can be made during the month of November 2023.
Similarly, the waiver of this regime must be made during the month of December 2023.
4.DISTANCE SELLING TO OTHER EUROPEAN UNION MEMBER STATES REGIME
Communication related to the choice of destination-based taxation in the Distance Selling Regime to other European Union countries can be made until January 2, 2024.
5.SPECIAL GROUPS OF ENTITIES REGIME IN VAT
Until January 2, 2024, the dominant entity of a group of entities meeting the conditions to apply the Special Groups of Entities Regime (REGE) must submit model 039 to communicate:
- The choice or waiver of REGE
- The choice or waiver of the advanced mode of REGE
- The application of the Monthly VAT Refund Regime (REDEME) to all entities in the group
It should be noted that when there are changes during the year affecting the group entities applying REGE, the dominant entity must submit model 039 to communicate these changes to the Tax Agency within the deadline for filing the self-assessment for the period in which the modification occurs.
6.SPECIAL CASH ACCOUNTING REGIME
Taxable individuals can choose this special VAT accrual regime by submitting model 036 between December 1, 2023, and January 2, 2024, which will take effect from January 1, 2024.
The request for withdrawal should be submitted in November, and the withdrawal takes effect from January 1, 2024, for a minimum of three years.
7.OTHER SPECIAL REGIMES
There is also the possibility of making the following communications related to other special regimes by submitting model 036 until January 2, 2024:
- Choice or waiver of determining the taxable base through the global profit margin in the Special Regime for used goods, works of art, antiques, and collector’s items
- Waiver of the Simplified Regime or the Special Regime for Agriculture, Livestock, and Fishing
8.TAXABLE INDIVIDUALS CONSIDERED LARGE BUSINESSES
It is necessary to review the turnover to determine if there is an obligation to submit monthly VAT declarations, in which case this circumstance must be communicated by submitting model 036 in January 2024.
The classification as a Large Business occurs if the turnover during 2023 exceeds €6,010,121.04.
9.ELECTRONIC RECORD KEEPING OBLIGATION (SII)
Regarding the obligation for immediate information supply (SII), those who qualify as Large Businesses must comply with the provision of billing records from January 1, 2024.
The same obligation applies to companies that register in the Monthly VAT Refund Register (REDEME) and to taxable individuals subject to REGE (VAT groups).
Furthermore, taxable individuals who are not required to do so can opt for electronic record keeping by exercising their choice in November 2023.
Finally, entities that want to waive electronic record keeping must do so using model 036 until November 30, 2023.
10.INTRASTAT STATISTICAL DECLARATIONS
There is an obligation to submit an Intrastat declaration for all VAT taxable individuals who have conducted intra-community operations with a value exceeding the exemption threshold of €400,000 in the previous calendar year or when, without reaching the threshold, they reach it during the current calendar year.
It is also advisable to reconcile the Intrastat declarations with model 349 (recapitulative declaration of intra-community operations).
Due to the many specific details related to these regimes and obligations (requirements, effects, validity, etc.), we recommend that you contact us to clarify any doubts and guide you through all the mentioned procedures.
You can contact us by phone at +34 934 875 200 or by email at email@example.com, or by clicking here.