Spain’s Tax Agency has recently published a draft order approving Form 232 for reporting related-party transactions and transactions and situations that involve countries and territories considered to be tax havens.
The deadline for filing Form 232 has been set generally in May. All controlled transactions with the same related party, regardless of their individual amounts must be reported if the total amount of the transactions exceeds EUR 250,000. Additionally, the same type of individual transactions entered into in a given tax period with the same individual or related entity using the same valuation method and in an amount exceeding EUR 100,000 at arm’s length value, also must be reported.
