ICONOS FINALES-TRAZADOS

BASQUE COUNTRY: Attention to your turnover

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Your turnover at the end of the year may affect taxation on various taxes…

BASQUE COUNTRY: Attention to your turnover

Remember that turnover influences certain tax obligations. Specifically:

VAT and Income Tax

If your turnover exceeds 6 million euros (specifically, 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.
  • Withholdings on Income Tax.

Corporations

If a certain amount of turnover is exceeded, your company will not be able to continue applying the tax incentives provided for Corporations for the following entities:

  • Microenterprise: 2 million euros in assets or turnover;
  • Small enterprise: 10 million euros in assets or turnover;
  • Medium enterprise: 43 million euros in assets, or 50 million in turnover.

Tax on Economic Activities

If you reach 1 million euros in billing, in Araba and Gipuzkoa, or 2 million euros in Bizkaia, your company will cease to be exempt from the Tax on Economic Activities (IAE).

Therefore…

If your company's billing so far this year approaches any of these figures, consider delaying a sale for the following fiscal year (as long as this is possible), so that the accrual of the operation, and not just the issuance of the invoice, occurs in 2027.


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

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