The Ministry of Finance today launched the procedure of public information of the draft Royal Decree amending various formal tax obligations and that the proposed postponement of the entry into force of the obligation on companies to submit the statements.

The Ministry of Finance today launched the procedure of public information of the draft Royal Decree amending various formal tax obligations and that the proposed postponement of the entry into force of the obligation on companies to submit the statements to the content of the books VAT registration, the Elena Salgado department reported today.

In this way, given the difficult economic situation of enterprises and not to Hinder the performance of its formal obligations, the Ministry of Finance proposes to postponed this requirement, which should become effective from 1 January 2010 until 2012. Therefore, in 2010 and 2011 this obligation will remain payable only to taxpayers who request monthly VAT returns.

In addition, it introduces a number of changes regarding the information that financial institutions must submit to the tax authorities. They are obliged to submit annual reports on cash movements to replace the individual requirements that are currently serving in such entities, which will mean a simplification in fulfilling their obligations.

These statements report shall contain data on movements in an amount exceeding 6.000 euros in credit and loans, as well as on taxation, rules for funds and charges to be made in cash in an amount exceeding € 3,000. This initiative was made in the updated Plan to Fight Fraud at the end of 2008.

With the same purpose of simplification of formal charges, the banks provide the management service charges through credit card or debit entrepreneurs and professionals will also replace the information requirements identified by a briefing where the annual net said the annual fees exceeding $ 3,000.

Moreover, to provide information to the taxpayer for filing the statement of the income tax, falls on financial institutions the obligation to report the sums of the Borrower also in other costs of finance, apart from the interests.

In the area of personal income tax and corporation tax, introduced the draft amendments to the deductions in cases where the taxpayer intended to pay amounts from the acquisition or rehabilitation of housing and also raises the usual transposition of various guidelines to bring information on intra-EU operations.

Finally, amending certain procedural rules to increase legal certainty and promote electronic communication between government and citizens.

Europe Press 22/07/2009