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Spain

Overview of country specific accounting and VAT/Tax legislation

Accounting Requirements

Accounting Books:
  • Posting Journal (Diario General)
  • Detailed Trial Balance (Libro Mayor)
  • Trial Balance Reports (Balance situación normal etc.)
Other Requirements:
  • National Chart of Accounts (Plan General de Contabilidad)

VAT/Tax Requirements

Applicable Types
  • VAT (IVA)
  • VAT Surcharge – non-legal entities additional charge(Recargo de Equivalencia)
  • Import VAT
  • Withholding Tax for special services or private persons
VAT/Tax Books:
  • VAT Ledger of purchase and sales (Libro registro de facturas ….)
  • WHT Reporting (Modelo 111, 190 and 216)
  • Annual Listing of Transactions with customers and vendors (Modelo 347)
  • EU Sales Listing (VIES) (Modelo 349)
  • Intrastat Listing (Formulario N)
  • Periodic VAT Return (detailed file for upload) (Modelo 320)
  • S.I.I Purchase Invoice Details (sent to authorities within 10 days after transaction)
  • S.I.I Sales Invoice Details (sent to authorities within 10 days after transaction)
VAT/Tax Documents:
  • Self Invoice (Auto Factura)
Other Requirements:
  • Partly non-deductable input VAT

Usual Business Requirements

  • Electronic payments of vendors
  • Direct debit (electronic) of customers

 

Requirements that exist in most countries, e.g. documentation of transactions, Annual Accounts or periodic reporting of VAT totals, are NOT listed above if no specific legislation exists about format or content.

DISLAIMER: No responsibility is taken of the correctness of above information. The specific accounting and VAT/Tax requirements for a company should always be confirmed with local auditors. The listed issues may not be applicable for all types of companies as well as additional issues may exist depending on the specific type of business.