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Companies whose turnover was more than €6.01 million in 2020 shall acquire the Large Company status as of the 1^st of January, 2021, for tax purposes.

Consequences of this with regard to the Spanish Tax Agency (AEAT):

– The regular tax returns shall be filed monthly.

– The payments made in instalments must be calculated according to the tax base of the current year.

– The VAT ledgers must be kept according to the Immediate Supply of Information (SII).

– Exemption from filing forms 347 “Information return on transactions with third parties.” and 390 “Annual summary VAT tax return”.

The period to inform the AEAT about any changes to the aforesaid status is from the 1^st of January, 2021 to the 1^st of March, 2021, which is done by submitting the census declaration, form 036.

Moreover, the form 036 must be filed to inform the Spanish tax authorities about the loss of the Large Company status, if at the end of the fiscal year 2020, the turnover of the company is less than 6.01 million euros.

If the company must file the form 036 to notify the tax authorities about the change in the Large Company Status, please inform us as well.