At the end of a tax inspection procedure always produces the corresponding Finance Inspection Act.
There are several types of minutes depending on the position of obligation to the proposed correction presents the Administration. They can be with Agreement Acts, Records Records conformity or nonconformity.
Apart from the own details of each type, the record is generally a final document inspection procedure that collects all information about said process and final conclusions. And it will include, where appropriate, the amounts payable arising correction tax assessments.
These amounts payable derived from a Finance Inspection Act They can be divided into 3 types:
It is the part of the tax that the Tax Agency considers that it is unpaid. That is, the difference between the statements initially presented by the forced liquidations and corrected at the discretion of the tax.
Since 1 / 1 / 2008, with the entry into force of the current General Accounting Plan, these fees are treated as an expense only if they correspond to a tax for the current year. In this case they will be reflected in the income account, reducing profit.
In other cases, fees shall be accounted for prior years against the reserve accounts, minorándolas and therefore also deducted from the Equity of society.
Sometimes, even in the case of contributions from previous years, correction may be due to events or information that occurred during the current year. In these cases, it could be considered that the situation motivates the correction is current and the allocation of the quota would be admitted as an expense.
The Tax Agency charges the financial cost derived from the delay in the collection of the fee. The default interest rate is usually established by law every year (being 3,75% in 2016). It is applied to the fee to be paid after the inspection, for the period from the date on which the voluntary pazo ended the payment of the corrected tax, until the effective payment day.
Following the same criteria and timing of recognition of expenses quota, the interest corresponding to the period in the current year will be treated as an expense in the corresponding accounting financial expenses account.
By contrast, for the period of "delay" in previous years that he spent interests should be accounted against the reserve accounts, minorándolas and therefore also deducted from the Equity of society.
It is important to note that currently there is a difference of opinion regarding Corporate tax deductibility of interest on late payments as tax deductible expense.
On the one hand, the Directorate General of Taxation (DGT) maintains that these expenses are not punitive nature and, therefore, are deductible as Resolution 4 2016 April. Moreover, the Inspection Department of the Tax Agency (AEAT) maintains that these expenses are not deductible, based on a Resolution of the Central Administrative Economic Court of 5 May 2015. We have to wait a while to see what the end of this conflict of opinions, which currently holds the taxpayer in an unacceptable uncertainty.
The penalty is imposed in a separate file and graduated according to different variables. While the amount is recorded as expense, shall be adjusted in the income tax for which it is not considered deductible.
Remember that according to accounting rules, the expenses should be accounted for from the time they are perceived as predictable. Thus, although the Finance Inspection Act It is not final yet, we will provide the corresponding provision in the period in which they already have knowledge of their possible existence.
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