BASQUE COUNTRY: Check your turnover

Remember that turnover influences certain tax obligations. Specifically:

VAT and Income Tax

If your volume of operations exceeds 6 million euros (exactly, 6,010, 121,04 euros), you must submit monthly self-assessments for:

• VAT, and you must also comply with the obligations arising from the Immediate Supply of Information (SII) system.
• Income Tax Withholdings

Corporations

If a certain volume of operations amount is exceeded, your company will no longer be considered a small-sized company and will not be able to continue applying the tax incentives provided for corporations for these companies:

• Microenterprise: 2 million euros in assets or volume of operations;
• Small business: 10 million euros in assets or volume of operations;
• Medium-sized business: 43 million euros in assets, or 50 million euros in volume of operations.

Tax on Economic Activities

If you reach 1 million euros in turnover, in Araba and Gipuzkoa, or 2 million euros in Bizkaia, your company will no longer be exempt from the Tax on Economic Activities (IAE).

If your company's turnover so far this year approaches any of these figures, consider delaying a sale for the following year (whenever possible), so that the accrual of the transaction, and not just the issuance of the invoice, occurs in 2026.

 

Our professionals can assist you if your turnover is close to the limits whose exceeding entails an increase in certain tax obligations.