The Spanish government gazetted the details of the Budget for 2016 on 30 October 2015, addressing some significant income tax measures.
Corporate income tax
Companies whose total annual income does not exceed EUR 75,000 and whose exempt annual rental income does not exceed EUR 2,000 are not required to file tax returns for taxable periods commencing on or after 1 January 2016. Any rental income which is exempt from income tax must already have been subject to withholding tax.
VAT
The exemption for export-related services will be expanded to include services of freight forwarders and consignees. Exempt imports of goods will include goods intended for tax-free shops.
For the application of the simplified regime, the turnover of the preceding year may not exceed certain maxima which are as follows; for all activities, except agriculture, forestry and livestock, the simplified regime is applicable in 2016 and 2017 if the amount of turnover in the preceding tax year did not exceed EUR 250,000. From 2018, this amount will be EUR 150,000; and the amount of acquisitions and imports of goods and services for the previous year, excluding those relating to fixed assets, may not exceed EUR 250,000. From 2018, this amount will be EUR 150,000.
