SII. Beware of the consistency of data. It is not only penalties

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Once the unofficial truce lasting until past December 2017 is over, the time has come for companies failing to comply with their SII obligations having to face the consequences of such a behaviour.

However, more than the specific penalties which may result from the failure to properly deal with the SII reporting obligations, companies must be aware that these are not the only negative consequences.

Furthermore, such unexpected consequences which may result for uncompliant companies or for companies which, regardless of their having complied with their SII reporting obligations, have declared inconsistent data, are producing.

It must be remembered that, as results from the new paragraph 6 added to article 62 of the VAT ordinance following the introduction the so called “Immediate Information Supply” or SII, this is just a special system of keeping the VAT registers required by the VAT regulations (namely, electronically through the website of the Tax Agency), that is obligatory to those companies under its scope.

As a result, in the event of a tax review, SII uncompliant companies could be considered to qualify for the application of the second paragraph in number three of article 99 of the Spanish VAT Law, according to which:

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New version 1.1 of the SII (1st July 2018)

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The News section of the SII banner at the website of the Spanish Tax Agency has been updated so to include a presentation on the technical novelties included in the SII version 1.1 to come into force on next July 1st, 2018.

To access the document click here.

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SII and the Canaries. 2019

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A special version of the SII is expected for the Canaries since the 1rst January 2019. As happens in the mainland, those companies obliged to file monthly IGIC returns will also be obliged to file electronically their IGIC registers in real time to the Canary Island’s tax authorities.

 

The regional tax authorities are implementing the IGIC SII system which, except for small differences, will not much differ from the VAT SII in the mainland and other autonomous regions which have regulation authority on this issue and which, as happens with Country Vasque and Navarre, have implemented their own SII system.

 

The Canarian tax authorities have habilitated a mail address for answering questions on the IGIC SII. Also, additional info and a draft of the technical requisites can be found at the site of the Canary Islands Tax Directorate.

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New F.A.Q.'s for the SII version 1.1 published

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An updated docucument of F.A.Q`s related to the SII version 1.1, applicable since 1st July, has been published at the website of the Spanish Tax Agency. To have access to the document (for the moment in a Spanish version) click here.

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How to tax Matrix?

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This past week-end has brought the notice of the failure of the European Finance Ministers to reach a principle of agreement about the creation of a Digital Tax in the European Union.

The initiative to set up a European tax to big internet agents that is based in the turnover rather than in the declared profits, originally leaded by Germany, France, Italy and Spain, would require unanimity of the member states so to be accepted.

It is clear after the announcement following the unformal ECOFIN of last Saturday and the doubts assaulting the executives of Germany and Italy, that such an unanimity is far from be reached. The main reason is the reluctance of those Member States, such as Ireland and Luxembourg, where tax incentives are key pillars of attracting foreign investments against the introduction of the intended Digital Tax.

Although this position could be explained by their having much to lose from a revision of the present status quo, the reason that has been given against the adoption of a unilateral initiative of this kind by the EU has been the distortion of competition and the risk of a conflict with other World leading economies which the same may entail.

Instead, those countries contrary to the Digital Tax propose to wait until common solutions as to how to tax giant technology companies are implemented at a wider multinational level, as may be within the OCDE.

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