Just like in previous years, according to certain requirements, it is possible to pay the tax due on imports in the tax return filed for the corresponding period in which the document is received from the Tax Authorities about this tax settlement.
With this system, in its monthly self-assessment, the importer must declare the amount of VAT for the period in which it receives the documentation concerning the settlement of the VAT on the import imposed by the Tax Authorities, it must include it in the form 303 as VAT due, and as VAT paid on this transaction. It shall therefore be considered to be neutral from a fiscal and tax point of view.
It is a VOLUNTARY scheme that taxpayers whose tax return period is one month can use (big companies, those included in the REDEME, which is the Monthly Refund of the Value Added Tax System or those that are subject to the Special Business Groups VAT Regime, among others).
NOTIFICATION ABOUT THE OPTION
Companies that want to use this VAT on imports payment system must notify the Spanish Tax Agency about this by submitting the form 036.
PERIOD AND DEADLINE TO SUMBIT THE FORM
During November, so that it comes into force in January, 2021.
It shall be renewed for the following years if the taxpayer in question does not express its wishes to waive or opt out of the scheme.
Once this system has been chosen all the import transactions carried out in that calendar year shall be subject to the terms of this scheme.
WAIVER
The taxpayer must notify the Tax Agency of its wishes to opt out of the scheme in November before the next calendar year in which it comes into force, also by submitting the form 036.
The waiver shall be valid for a minimum period of 3 years.
EXCLUSION
Companies that choose this payment system on imports shall not be subject to it if the corresponding settlement period does not coincide with the calendar month and from the date when they are no longer obliged to file the monthly VAT tax returns.
BREACHES AND PENALTIES
If the self-assessment form for the tax payable on imports charged by the Tax Authorities is not filled in, is incorrect or incomplete this might be considered to be a tax offence and therefore it might be penalised.
ASSISTANCE PROGRAMME
The Spanish Tax Authorities have established a procedure in the Electronic Office of the Spanish Tax Agency for companies (https://www.agenciatributaria.gob.es/AEAT.sede/procedimientoini/DB01.shtml) so that they can check the deferred VAT on imports for each period and the actual debt status.
