New regulations for 2016

Effects of Royal Decree-Law 3/2016 on the calculation of the third instalment of Corporation Tax for 2016

Royal Decree-Law 3/2016, dated 2 December, which adopts tax measures aimed at consolidating public finances and other urgent measures in the social domain, was published in the Official State Gazette on 3 December 2016. This Royal Decree-Law approves certain tax measures, such as the modification of the limitation of negative taxable bases, which should be taken into account for calculating payments by instalment in accordance with article 40.3 of the Spanish Corporation Tax Act, of 1 January 2016. However, although these measures are applicable for the tax periods commencing from 1 January 2016, in accordance with the Third and Final Provision, this Royal-Decree Law shall enter into force on the day of publication of the Official State Gazette, except for article 6, which modifies General Tax Act 58/2003, and which shall come into force on 1 January 2017.

In accordance with the aforementioned, the modifications to Corporation Tax Act 27/2014 enter into effect on 3 December 2016, when the term for filing Forms 202 and 222 has already begun, given that the third split payment of Corporation Tax must be paid within the first 20 calendar days of December as a down-payment of the settlement corresponding to the tax period in force on the first day of this month. Thus, the modifications introduced by the Royal-Decree Law 3/2016 shall not be taken into account for the calculation of the third split payment of 2016 of Corporation Tax, or in the first or second split payment of 2016, the filing deadline of which had already finished on the date of effect of this Royal-Decree Law.