Non-profit entities and institutions;
Posted: Mon Jan 20, 2025 5:24 am
Who is exempt from paying corporate tax?
There are some entities that are not required to pay this type of tax. These are established in Article 9 of Law 27/2014 and are the following:
The State, an Autonomous Community and local entities;
The autonomous bodies of the State and public law entities of a similar nature of the Autonomous Communities and local entities;
The Bank of Spain, the Deposit Guarantee Fund for Credit Institutions and the Investment Guarantee Funds;
The Managing Entities and Common Services of Social Security;
The Institute of Spain and the official Royal Academies;
Institutions of the Autonomous Communities with their own official language that have purposes similar to those of the Royal Spanish Academy;
The International Public Oversight Board on auditing standards, professional ethics and related matters.
Who is partially exempt from paying corporate tax?
The law establishes that the following entities are partially exempt from paying the tax:
Unions, federations and confederations of cooperatives;
Professional associations, business associations, official chambers and workers' unions;
Employment promotion funds;
The Mutual Collaborators of Social Security;
The public law entities Puertos del Estado and those of the autonomous communities.
How corporate tax is calculated
You already know what corporate tax is, so it's time for you to get more list of romania phone number information on how to calculate the tax, which is based on the taxable base defined in TITLE IV of Law 27/2014 .
Therefore, to determine this base, you must first calculate the difference between the company's income and expenses during the tax period, which may be mentioned in the company's bylaws, or may directly end on December 31.
Income = Income - Expenses
There are cases in which the difference obtained has to be corrected or adjusted through extra-accounting procedures. This is due to the difference that may exist between the accounting calculation criteria and that established by the Treasury.
After the adjustment, you will have the previous income or tax base obtained during the tax period. Negative tax bases from previous tax periods can be subtracted from this amount.
Taxable base = Previous taxable base - Negative taxable bases
This provides the basis to which the tax rate or percentage will be applied (which varies depending on the type of company or legal entity).
Total amount = Taxable base x Tax rate
There are some entities that are not required to pay this type of tax. These are established in Article 9 of Law 27/2014 and are the following:
The State, an Autonomous Community and local entities;
The autonomous bodies of the State and public law entities of a similar nature of the Autonomous Communities and local entities;
The Bank of Spain, the Deposit Guarantee Fund for Credit Institutions and the Investment Guarantee Funds;
The Managing Entities and Common Services of Social Security;
The Institute of Spain and the official Royal Academies;
Institutions of the Autonomous Communities with their own official language that have purposes similar to those of the Royal Spanish Academy;
The International Public Oversight Board on auditing standards, professional ethics and related matters.
Who is partially exempt from paying corporate tax?
The law establishes that the following entities are partially exempt from paying the tax:
Unions, federations and confederations of cooperatives;
Professional associations, business associations, official chambers and workers' unions;
Employment promotion funds;
The Mutual Collaborators of Social Security;
The public law entities Puertos del Estado and those of the autonomous communities.
How corporate tax is calculated
You already know what corporate tax is, so it's time for you to get more list of romania phone number information on how to calculate the tax, which is based on the taxable base defined in TITLE IV of Law 27/2014 .
Therefore, to determine this base, you must first calculate the difference between the company's income and expenses during the tax period, which may be mentioned in the company's bylaws, or may directly end on December 31.
Income = Income - Expenses
There are cases in which the difference obtained has to be corrected or adjusted through extra-accounting procedures. This is due to the difference that may exist between the accounting calculation criteria and that established by the Treasury.
After the adjustment, you will have the previous income or tax base obtained during the tax period. Negative tax bases from previous tax periods can be subtracted from this amount.
Taxable base = Previous taxable base - Negative taxable bases
This provides the basis to which the tax rate or percentage will be applied (which varies depending on the type of company or legal entity).
Total amount = Taxable base x Tax rate