New regulations for 2016

Error correction in the Resolution of 9 February 2016, which lays out the regulations for registering, valuing and elaborating the annual accounts for Profit Tax.

On 20 May last the Official State Gazette published the Resolution of 18 May 2016 by the Spanish Institute of Chartered Accountants (ICAC), correcting errors in the Resolution of 9 February 2016, which lays out the regulations for registering, assessing and preparing the annual accounts for the recording of Corporation Tax.

This ICAC Resolution is aimed at developing criteria for accounting for the Corporation Tax expenses regulated by the General Chart of Accounts, the SME General Chart of Accounts and the Standards for Preparing Consolidated Annual Accounts, which are compulsory for all companies, regardless of their legal form, requiring them to apply these standards in both the preparation of their individual annual accounts and, if applicable their consolidated annual accounts.

del Instituto de Contabilidad y Auditoría de Cuentas, por la que se desarrollan las normas de registro, valoración y elaboración de las cuentas anuales para la contabilización del Impuesto sobre Beneficios.(BOE, 16-febrero-2016)