Fiscal Year

(Financial Year)

The fiscal year refers to a 12-month accounting period for businesses and other organisations, and the term is also used when referring to income tax reporting.

Although accounts and tax reports need to be submitted annually, the fiscal year-end doesn’t necessarily refer to a calendar year. However, the Spanish fiscal year does in fact fall between January and December.

Businesses

When deciding up on the fiscal year of a new business, it is usually decided by the type of service provided. For example a beauty salon which would expect to achieve steady business throughout the year could comfortably operate within the government’s fiscal calendar, yet a more seasonal business such as shop would probably prefer that their fiscal year end doesn’t fall too close to the January sales. Similarly, universities often end their fiscal year in the middle of summer at the end of term, simply because it is convenient.

However, that said all Spanish financial residents must adhere to the government’s fiscal calendar when paying taxes and fees.

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Spanish Taxes

It is vital that you are aware when your Spanish taxes are due. For example IBI (local tax) and Basura (rubbish collection) need to be paid annually (the exact date varies according to where your property is located). Non-resident tax, resident tax and wealth tax declarations all need to be filed on or before the specified dates.

Perez Legal Group can remove the stress of worrying about meeting your fiscal obligations on time by acting as your tax representative.

Contact us info@perezlegalgroup.com for further information about Perez Legal Group’s fiscal services and request a copy of our 2013 fiscal calendar.

Need help understanding the taxation system?

Download the FREE Guide to Taxes for Non-Residents in Spain, written by Raquel Perez, owner of Perez Legal.

Are you buying a property?

 

Then you need to know the process. Download the FREE Guideline Procedure for Purchasing a Property.

Confused with the legalities of buying a home?

Download the FREE Spain Legal Buying Guide, written by Raquel Perez, owner of Perez Legal Group.

Selling your property?

 

Get an overview of what is involved by downloading the FREE Guide to Selling Your Spanish Property Legally.

Do you need help planning for the future?

Find out more information on the inheritance system here in Spain by downloading the FREE Inheritance Services book.

Do you pay taxes?

 

Download the 2019 Tax Payer´s Calendar to find the dates you need to submit your tax declarations.

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