Do you consider yourself to be a large company? According to the criteria of the Tax Agency, a large company is one that has achieved a turnover of more than 6,010,121.04 Euros in one year.
This consideration gives rise to a series of census and tax changes from the following year onwards:
– Notification to the Tax Agency of the status of Large Company through census form 036.
– Monthly submission not only of VAT self-assessments, but also of withholdings and payments on account, Electricity Tax and Tax on Alcohol and Beverages.
– Preparation of record books through the electronic supply of invoicing records (SII).
– Obligation to calculate corporate income tax instalments in accordance with Article 40.3 of the Corporate Income Tax Act.
It is important each year to review whether these requirements are met, not only to report that this volume of transactions has been exceeded, but also to report that, even though this requirement has been exceeded previously, it has ceased to be met. In other words, if the turnover for a financial year is less than 6,010,121.04 Euros, it would also be necessary to report the loss of status as a Large Company, with the consequent change in the frequency of the self-assessments to be filed.
Given that we are about to start the last quarter of the year, if you think you are going to exceed this threshold, and you have any doubts about how to notify the authorities, we are at your disposal.
Isabel María Díaz Rubio.
