Summer is here and there is less and less so that we can enjoy the long-awaited and deserved vacation, which allows us to disconnect from the routine. However, companies will not be able to go on summer holidays without first having left all their tax obligations ready.
And it is that, the month of July is one of the most important as far as the tax obligations of companies are concerned, since next to January, it is the month in which more tax models must be presented.
July coincides with the end of the second quarter of the fiscal year, and therefore it is up to declare all the financial operations of the companies such as: VAT and Personal Income Tax. In addition, in July you will also have to pay corporation tax.
Aware of its importance, we have prepared a small guide with the tax obligations that companies must face with the arrival of summer.
You are interested in:
Tax obligations for companies in July 2019
Until July 22
> Quarterly VAT declaration:
With a deadline of July 22, 2019, the following models will have to be presented:
- Form 303 of quarterly VAT: the VAT corresponding to the sales and purchase invoices corresponding to the second quarter of the year (April, May and June) is declared.
- Form 349: this model is only mandatory for those companies that carry out intra-Community operations. It is presented quarterly.
- Form 341: this model presents the reimbursement of compensation in the special scheme for agriculture, livestock and fisheries.
> Quarterly Personal Income Tax Return
You will also have until July 22 to submit all personal income tax withholdings that have been applied to all your invoices issued during the months of April, May and June 2019.
- Form 130: mandatory only for companies that have to pay taxes under the objective estimation regime.
- Form 131: mandatory model for companies that pay taxes in the objective estimation regime.
- Form 111 – Model for withholdings applied to workers’ payrolls, as well as for those applied to purchase invoices.
- Form 115: necessary only for companies with a rented work place for an amount greater than 900 euros per year.
Until July 25
> Corporation Tax
Any legal entity, company, association or entity, will have until July 25 to present the form 200 of annual Corporation Tax,which affects everything related to the year 2018.
In the case of those companies whose fiscal year does not coincide with the calendar year, they will have to present the form 200 the six months following the end of the tax period.
Until July 30
Until July 303, the Value Added Tax of form 322 (for the group of entities with the individual model) or form 353 (for the group of entities with the aggregated model) can be presented.
Tax obligations for companies in August 2019
Until August 20
- Form 340: declaration of operations included in the registration books of the IGIC and other operations carried out during the month of July 2019.
- Form 380: declaration of operations assimilated to imports in July 2019.
> Special Manufacturing Taxes
- Form 510: declaration of operations by registered recipients, tax representatives and authorized recipients.
> Excise duty on electricity
- Form 560: self-assessment of this tax for large companies.
Until August 30, 2019
- Form 303: self-assessment of VAT of July 2019.
- Form 322: group of entities, individual models.
- Model 353: group of entities, model added.
As you can see and as we anticipated when we published the fiscal calendar 2019 for SMEs and self-employed,the summer is full of tax obligations, which you must leave ready before leaving for vacation. Some obligations that are mainly concentrated in the month of July, when you have to face the quarterly vat and personal income tax returns.
If you need more information regarding these taxes, you can contact us so that we can provide you with a comprehensive business advisoryservice.