In November, companies with a monthly VAT settlement period will be able to request the deferred payment of #VAT on imports to take effect in 2024.
What does this consist of?
We say that VAT is deferred on importation when the payment of this is made with the taxpayer’s own VAT declarations-settlements (Form 303/322), and not when the import declaration is accepted. This allows companies to improve their liquidity, as the payment of the tax is neutralised with the monthly declarations-settlements that are made.
Which importers are eligible?
- Those whose volume in the immediately preceding calendar year was greater than 6,010,121.04 euros (Large companies).
- Those who are registered in the REDEME (Monthly Return Register), authorised to request a refund at the end of each monthly settlement period.
- Those who apply for registration in the previous register (registration will be sufficient to qualify for the deferred VAT system).
How to apply?
All you have to do is modify the census declaration (form 036) in section 6 VALUE ADDED TAX option F Import VAT payment and mark in the corresponding box 530 that you wish to use deferred VAT.
How do the deadlines apply?
It is important to note that the deadline for requesting this type of declaration begins on 1 November and ends on 30 November of the year prior to the year in which it is to be used. Once requested and granted, it will start to be applied to returns filed from 1 January of the following year.
How does it work?
The amounts settled by Customs must be indicated on form 303/322 in boxes 49 and 77 in the period following their release: the declarations for the month of January must be declared on the VAT return for the month of February. To find out the amounts to be declared, all you have to do is go to the Tax Office website and click on ‘Consult import VAT with payment deferral’ at the following link:
https://www.agenciatributaria.gob.es/AEAT.sede/tramitacion/DB01.shtml
*This article has been automatically translated from its Spanish version.
