It is known that persons or entities must make available to the tax authorities the documentation provided by regulation.
Regarding the the documentation of requirement, recently, there has been a change in the limit imposed by the requirement of it. Thus we have for the documentation of the financial year 2010 shall apply the following rules:
This documentation will not apply to persons or entities whose net turnover of given in the tax period is less than eight million euro s, provided that the total transactions during that period by persons or entities not exceed the aggregate amount of 100,000 euros in market value. To determine the net amount of turnover is taken into account the criteria laid down in Article 108 of this Law, however, must be documented in any case of transactions with persons or entities residing in a country or territory considered regulations as a tax haven, but residing in a Member State of the European Union and the taxpayer stating that the operations meet valid economic reasons and that those persons or entities engaged in economic activities.
With effect from January 1, 2011, the Royal Decree-Law 13/2010, of December 3, in proceedings in tax matters, labor and liberalization to encourage investment and job creation amends paragraph 2 of Article 16 of Consolidated Text Corporate Tax Law, which reads as follows:
people or entities shall make available to the tax authorities the documentation required by regulation. This documentation will not be required persons or entities whose net turnover given in the tax period is less than ten million euros , provided that the total transactions during that period by persons or entities not exceed the amount set € 100,000 market value. To determine the net amount of turnover is taken into account the criteria laid down in Article 108 of this Law, however, must be documented in any case of transactions with persons or entities residing in a country or territory considered regulations as a tax haven, but residing in a Member State of the European Union and the taxpayer stating that the operations respond to economic reasons valid and that such persons or entities engaged in economic activities.
In this sense, should be remembered that the Royal Decree-Law 13/2010 amounts to EUR 10 million threshold on the net amount of turnover that can benefit from the special scheme small size institutions.
Related Entries:
- implementing Recent tax news for 2010 .
- The market value related operations.
- party transactions: vs statement. documentation.
0 comments:
Post a Comment