Consumption/VAT/Sales Tax in Spain
Accounting (0) , Consumption/VAT/Sales Tax (1) , Corporate Tax (0) , International Tax Treaties (0) , Personal Tax (0)
Overview by Globlatrade.net:
- Nature of the Tax
- Impuesto sobre el Valor Anadido (IVA).
- Standard Rate
- Reduced Tax Rate
- 8% for food and non-alcoholic beverages, veterinary drugs, health equipment and products, accommodations, some passenger transport systems, average and low end hotels and restaurants, etc.
4% for essential foodstuff, medicines, cultural goods, cars for physically handicapped, etc.
- Exclusion From Taxation
- Exports and services connected to exports, financial operations and insurance contracts, real estate leases, medical services and education are exempted from VAT.
- Method of Calculation, Declaration and Settlement
- The calculation is done on the taxable value of the goods or service. Declaration is compulsory at variable frequencies depending on the size or line of business of the company. The payment is made after deduction of the VAT amount paid by the declarer for his purchases.
- Other Consumption Taxes
- There are special taxes:
- IIEE: special production tax (alcoholic drinks, hydrocarbons, tobacco, electricity) ;
- IEDMT : special tax on certain means of transport ;
- Special tax on carbon ;
- IVMDH: tax on retail sales of some hydrocarbons.
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