I have filed the Corporation Tax, should I also file Form 232?

In general, during November, those taxpayers obliged to file the Corporation Tax (Form 200) must verify if they are also required to present Form 232, an informative return on related-party transactions and operations and situations related to countries or territories qualified as tax havens.

The most relevant aspects of this tax obligation are:

Subjects required to file Form 232

1. Taxpayers of Corporation Tax and Non-Resident Income Tax with the permanent establishment, as well as entities under the income allocation regime incorporated abroad with a presence in Spanish territory that carry out the following operations with related persons or entities:
   1. The same person or related entity, provided that the amount of the consideration for the set of operations in the tax period exceeds 250,000 euros, according to the market value.
   2. Specific operations provided that the combined amount of each type of operation in the tax period exceeds 100,000 euros. Said operations are those excluded from the simplified content of the documentation referred to in articles 18.3 of the Corporation Tax Law and 16.5 of the RIS:
      • Those made by taxpayers of the Personal Income Tax, in the development of an economic activity, to which the objective estimation method is applied with entities in which those or their spouses, ascendants or descendants, individually or jointly among all of them, have a percentage equal to or greater than 25% of the capital stock or equity.
      • Business transmission operations.
      • Transactions for the transfer of securities or participations representing the participation in the equity of any entities not admitted to trading in any of the regulated securities markets or that are admitted to trading in regulated markets located in countries or territories classified as tax havens.
      • Real estate transfer operations.
      • Operations on intangible assets.
   3. Regardless of the above amounts, there will always be the obligation to present Form 232 and report related operations, concerning those operations of the same type and same valuation method, when the total amount of said operations in the tax period is higher than 50% of the entity’s turnover.
2. Taxpayers who have applied the reduction provided for in article 23 of the Corporation Tax Law for having obtained income due to the transfer of certain intangibles to related persons or entities.
3. Taxpayers who carry out operations or have securities in countries or territories classified as tax havens, regardless of their amount.

However, it will not be mandatory to fill in the information on operations with related persons or entities of Form 232 concerning the operations integrated into the same tax consolidation group, without prejudice to what is indicated in article 65.2 of the LIS (point 2 above).

Deadlines and form of presentation

• Form 232 presentation must be made in the month following the ten months after the conclusion of the tax period to which the information to be supplied refers (in general, those taxpayers whose tax period coincides with the calendar year must present Form 232 during November).
• It must be submitted electronically through the electronic headquarters of the EAT Agency.