Monthly VAT declarations improve cash flow
We would like to inform you that during the month of November 2011 companies in Spain have the possibility to request registration at the Spanish tax authorities for monthly VAT tax returns, instead of quarterly VAT tax returns. If accepted by the Spanish tax authorities, the change from quarterly to monthly returns will start as of January 2012.
The registration of monthly VAT tax returns will allow you to obtain a refund of VAT on a monthly instead of a yearly basis. This is a potentially interesting option for clients who typically receive VAT from the tax agency, compared to those who typically have to pay. Once registered for monthly VAT, a company will not be able to change back to quarterly registration for at least 2 years.
If you are interested or would like to exchange ideas about this option, please contact us.
