Accounting and Reporting Requirements for SL

Annual Obligations

Accounting Books

  • Journal entries
  • Inventory and annual accounts
  • Corporate agreements book
  • Register of contracts with sole shareholder

Tax Declarations

  1. Corporate Income Tax (IS)

    • Annual declaration
    • Advance payments

  2. Value Added Tax (IVA)

    • Quarterly declarations
    • Annual summary

  3. Personal Income Tax (IRPF)

    • Quarterly withholding declarations
    • Annual summary

Important Deadlines

  • Corporate Tax: Within 25 days after 6 months from fiscal year end
  • VAT Returns: Quarterly (April 20, July 20, October 20, January 30)
  • Annual Accounts: Within 6 months after fiscal year end

Record Keeping

  • All accounting records must be kept for 6 years
  • Original invoices and documents must be preserved
  • Digital copies are accepted with proper certification

Professional Support

It’s recommended to:

  • Hire a professional accountant
  • Use accounting software
  • Keep regular contact with tax advisors