New tax form 232 has been approved with the purpose of taxpayers reporting (i) transactions with related parties, and (ii) transactions with tax havens.

Please see below the main features of the new tax form:

  • Corporate Income Tax payers as well as non-resident taxpayers operating in Spain through a permanent establishment  shall file new tax form 232, reporting the following transactions:
  1. Related party transactions:

–    Transactions with the same related person or entity provided that their aggregate consideration exceeds EUR 250,000 per tax period, according to market value, excluding those transactions in accordance with the law.

–   Specific transactions listed in the law, provided that each type exceeds EUR 100,000 per tax period.

–   Transactions of the same type and method of valuation provided that their aggregate amount per tax period exceeds 50% of the revenue of the entity.

–   Transactions linked to the patent box benefit applied by the taxpayer.

2.    Transactions with tax havens: Transactions carried out with tax havens as well as interest held in tax havens, irrespective of their amount.

  • Content: Data, such for example identification of the party or the type of transaction, among others, shall be reported with the tax form.
  • Deadline: Within the month after a 10 month period following the end of the tax period. By a way of example, for tax periods coinciding with the calendar year, the filing period is November of the following year.
  • Entry into force: New tax form 232 is applicable to those tax periods starting 1 January 2016.