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The tax return (tax form 540) of the new tax on non-productive
assets of legal entities (IANP) must be filed between October 1 and
November 30 of 2019, for tax years 2017, 2018 and 2019.
Starting next year 2020, form 540 must be filed from June 1 to
June 30 of each year.
The purpose of the new Generalitat de Catalonia tax is to tax
non-productive assets and certain rights that are granted to them
when they are part of legal entities or part of entities which lack
legal personality.
For the purposes of this new tax, non-productive assets are
considered to be those that are not affected by economic activity,
those assets that are intended for private use by owners, partners
or persons related to them and those assets that are assigned free
of charge to owners, partners or to persons related to them.
The taxable liability of this tax is constituted by the
possession of the following non-productive assets located in
Catalonia: real estate, motor vehicles exceeding 200 horse power,
aircraft, private yachts and pleasure boats, jewels, art, and
antiques.
The full tax quota is calculated by the application of scales on
the following table, which coincide with the ones applicable to
Wealth Tax in Catalonia:
Tax base
(up to euros)
Full tax quota
(euros)
Remainder of tax base
(up to euros)
Rate applicable
(percentage)
0,00
0,00
167.129,45
0,210%
167.129,45
350,97
167.123,43
0,315%
334.252,88
877,41
334.246,87
0,525%
668.499,75
2.632,21
668.500,00
0,945%
1.336.999,75
8.949,54
1.336.999,26
1,365%
2.673.999,01
27.199,58
2.673.999,02
1,785%
5.347.998,03
74.930,46
5.347.998,03
2,205%
10.695.996,06
192.853,82
2,750%
This tax has a second non-tax purpose because it seeks to ensure
that the legal title of non-productive assets of legal entities is
adjusted to the real one. In this way, it aims to prevent tax
avoidance practices such as incorporating personal assets into
corporate structures.
We recommend carrying out an analysis of the possible
non-productive assets of a company and, where appropriate,
preparing the corresponding tax returns for 2017, 2018 and 2019
which can be filed up to the November 30 deadline.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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