Telephone Tax Refund

Additional information on adjustments and deductions, annual accounts 2010, income tax statements for prior periods, statements and payments on account of 2010 personal income tax, VAT. related income tax check tax adjustments, tax optimization, non-deductible expenses, depreciation, tax loss compensation in previous years, Tax credit for reinvestment of extraordinary income, deductions for domestic double taxation (dividends and capital gains) and deductions in the share and its limits.

Additional information on adjustments and deductions

The obligation to submit information prior to the declaration, through an attached form whose submission is electronically through the electronic record of the AEAT, on the following assumptions:

When the statement has been placed in a negative correction to the result of the profit and loss account in the amount not less than 50,000 in the section on “other corrections to the result of the profit and loss account”, and must describe the nature the adjustment made.

When the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than € 50,000 in deductions:

For extraordinary income: identifying the assets transferred and the assets in which investment is realized.

For environmental investments: identifying investments.
For research and development and technological innovation: identifying investments and expenditures that give rise to deductibility.

For export activities: identifying investments and expenditures that give rise to deductibility.

Annual Accounts 2010

They have the basic information to be incorporated into the model of corporate income tax. In the model declaration of income tax models are integrated normal accounts, and SMEs abbreviated balance sheet, income statement and statement of changes in equity. Not included, therefore, the state cash flow or memory. In addition, organizations subject to the accounting standards of the Bank of Spain, the insurance companies and investment institutions have specific models and will include information on its financial statements on pages 200 model specific.

In general, if completion of a negative starting balance sheet, profit and loss account and statement of changes in equity, it shall be entered preceded by the mathematical sign minus (-).

Statements of income tax of previous years

Give us clues about differences between taxable income and accounting profit that can reverse in 2010, tax losses that can offset, balance deductions applied in the past to draw from now, etc..

Returns and payments on account of 2010 personal income tax, VAT. related income tax

Magnitudes to square the statement contained in the Company with: IVA (annual summary), 190 retention, 180 lease of real estate withholding, 193 (annual summary of deductions from capital, etc.).

Instalments of 2010
Certificates of withholding tax on real estate leases on investment income earned from entities under the attribution of income, if the company is participating or commoner or donations or gifts made in the exercise and gifts or donations.

Check fiscal adjustments

We must analyze and review accounting and possible differences with the fiscal criteria. Keep in mind the fiscal adjustments to the implementation of PGC 2007.
Tax optimization

The points of impact for proper tax optimization lies in the determination of the tax base and the tax credits.

Expenses not deductible

You have to identify the various items of expenditure accounting that are not tax deductible (fines, criminal or administrative penalties, donations or donations). In your case you must make a positive adjustment to book income by the amount of expenditure accounted for.

Depreciation

We review the methods and depreciation rates used in accounting to see if they are supported by the tax law.
Offset of tax losses from previous years

Can practice in the next 15 years. This offset the society can practice at their convenience, as an instrument of tax optimization.

Tax credit for reinvestment of extraordinary profits

Check if we have integrated capital gains in 2010 or in previous years, likely to benefit from this deduction provided reinvestment. The tax credit rate and the applicable rules are those of the year in which we integrated the rent.

Remember that there is a requirement to submit pre-filing information through a form, where the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than 50,000 euros, identifying transferred assets and property in which the investment is realized.
Deductions for domestic double taxation (dividends and capital gains)

Check if you have pending application and deductions from previous years. This same applies to the deduction for international double taxation.

Tax credits and limits

Deductions are a good tax optimization tool that companies must make proper use, respecting the legal limits. Note deductions for investments and the percentages for the year 2010 that have been vary from previous years.

Remember that there is a requirement to submit pre-filing information through a form, where the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than 50,000 euros in the following deductions:

For environmental investments: identifying investments;
For research and development and technological innovation: identifying investments and expenditures that give rise to deductibility;

For export activities: identifying investments and expenditures that give rise to deductibility.

Smaller companies: remember that for these companies (turnover below the previous year to 8 million) can take a number of incentives:

Accelerated depreciation with job creation: possibility of new elements freely amortized plant and equipment and investment property if the average number increases. Accelerated depreciation amounts to a maximum of 120,000 euros per man / year increase in staff.

Accelerated depreciation for investment of limited value: it can be applied to new property, plant and made available to the body in the exercise, having a maximum value of 601.01 euros each, with a maximum repayment of 12,020 global free , 24 euros.

Accelerated depreciation of new items of tangible assets and real estate investments: can multiply by 2 the maximum coefficient of linear depreciation tax tables.

Fixed amount of the debit balances not individually equipped, 1%.
Accelerated depreciation (calculated by multiplying by 3 the maximum coefficient of tables) applicable to tangible fixed assets and investment property in which the reinvestment is materialized for the deduction for reinvestment of extraordinary profits.

Deduction for promotion of information technology and communication, with rate of 3% in 2010.