Spain: New Elements in VAT Regulations Regarding E-Commerce (II)

Following the news on VAT in relation to e-commerce, on 15 June the Spanish government modified the VAT regulations. As we mentioned in a previous article on the introduction of the single window environment with respect to distance sales, this is an attempt to facilitate and promote digital commerce by implementing measures reducing the administrative load associated therewith. Below is a brief summary of certain aspects of the VAT regulations.

This entry was posted on 26 July 2021 by Gustavo Yanes in Tax.

Penalties for Failure to Deposit Annual Accounts on Time in Spain

In the Spanish Law on Capital Stock Companies (Ley de Sociedades de Capital or “Law”), there is an article (283) which historically has not been attributed much importance because in practice either it was not applicable or very seldomly applied. The article foresees various fines (up to 300,000 euros) for companies that do not deposit their annual accounts by the legally established deadline.

This entry was posted on 24 June 2021 by Christian Krause in Corporate and M&A.

Spain: New Regulations for VAT in Distance Sales

For years now, e-commerce has not stopped growing. It is undoubtable, however, that due to the prevention measures against COVID-19, e-commerce has increased significantly. It is within this context that modifications have been made to the European Directive on VAT with respect to so-called distance sales. It must be noted that this modification is exclusively directed at sales made with final customers, not business owners, which are located in EU countries other than that of the vendor’s registered address.

This entry was posted on 21 June 2021 by Gustavo Yanes in Tax.