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Practical manual VAT 2024.

3. Simplified regimes and those of agriculture, livestock and fishing

A. Exclusive limits

Royal Decree-Law 8/2023, of December 27, which adopts measures to address the economic and social consequences arising from the conflicts in Ukraine and the Middle East, as well as to alleviate the effects of drought, extends until 2024 the limits for the application of the simplified regime and the special regime for agriculture, livestock and fishing.

Therefore, the exclusive magnitudes will be for the year 2024 the following:

  1. In the case of the simplified regime :

    • Volume of income in the immediately preceding year exceeding 250,000 euros for all economic activities, except agricultural, livestock and forestry.

    • Volume of purchases of goods and services in the immediately preceding year, excluding acquisitions of fixed assets, greater than 250,000 euros.

  2. In the case of the special regime of agriculture, livestock and fishing :

    • Volume of income in the immediately preceding year exceeding 250,000 euros for operations covered by the special regime for agriculture, livestock and fishing

    • Volume of purchases of goods and services in the immediately preceding year, excluding acquisitions of fixed assets, greater than 250,000 euros.

B. Deadline for submitting resignations or revocations for the year 2024

A new is established for submitting resignations or of the simplified regimes and those of agriculture, livestock and fishing from December 29, 2023 to January 31, 2024.

The resignations and revocations submitted for the year 2024 to the simplified regimes and those of agriculture, livestock and fishing, during the month of December 2023 prior to the start of the new period (December 29, 2023), will be deemed to have been submitted during the business period. However, they may be modified until January 31, 2024.

C. Simplified regime modules 2024

Order HFP /1359/2023, of December 19, which develops for the year 2024 the objective estimation method of the Personal Income Tax and the simplified special regime of the Value Added Tax, maintains the modules, as well as the instructions for their application, applicable in the simplified special regime in the immediately preceding year.

D. What's new for the fourth quarter

Rate of accrued quota for current operations

As a result of the modification of the tax rates carried out during the year 2024 on different food products, Order HAC /1347/2024, of November 28, modifies the following rates of accrued quota for current operations:

  • Activity: intensive livestock farming of egg poultry, sheep, goats and dairy cattle.

    Rate of accrued fee for current operations: 0.00 (from January 1, 2024 to September 30, 2024) and 0.02 (from October 1, 2024 to December 31, 2024).

  • Activity: benefits that correspond to the transferor in agricultural activities, carried out under a sharecropping regime, dedicated to obtaining agricultural products not included in the following sections.

    Rate of accrued fee for current operations: 0.00 (from January 1, 2024 to September 30, 2024) and 0.02 (from October 1, 2024 to December 31, 2024).

  • Activity: processes of transformation, elaboration or manufacturing of natural products for obtaining cheese.

    Rate of accrued fee for current operations: 0.03102.

Olive oils and seed oils

For the fourth quarter, an activity section is created for olive oils and seed oils (in the first three quarters of 2024, the section included processes of transformation, production or manufacturing of natural products to obtain products other than the above):

  • Activity: Processes of transformation, elaboration or manufacturing of natural products to obtain olive oils and seed oils.

    Rate of accrued fee for current operations: 0.14104.

Reduction of activities affected by the DANA

VAT taxpayers who are covered by the simplified special regime and carry out business or professional activities in the municipalities mentioned in the annex to Royal Decree-Law 6/2024, of November 5, affected by the Isolated Depression at High Levels (DANA) between October 28 and November 4, 2024, may reduce by 25 percent the amount of the fees accrued for current operations corresponding to such activities in 2024.