Since January 1, 2015, certain economic operators have been able to defer the payment of VAT when carrying out import operations. The tax return (Form 303) must be filed, and the corresponding VAT amounts declared, but payment is not made at the time of importation.
This option is established under Article 167.2 of the Spanish VAT Law (LIVA) and regulated by Article 74 of the VAT Regulations on Tax Collection in Imports (RIVA). The following requirements must be met in order to benefit from this scheme:
• Importers must be entrepreneurs or professionals acting as such and must have a monthly VAT return period.
•Taxable persons who are not fully taxed under the State Administration must include the VAT assessed by Customs in their VAT return submitted to the State Administration. Those who are exclusively taxed by a regional (“Foral”) tax authority must still file a declaration with the State Administration, using the model, procedure, location, and deadlines established by the Ministry of Finance and Civil Service.
• The option to apply for deferred VAT may be exercised either: when submitting the initial census declaration to begin an activity, or during November of the year prior to the calendar year in which it is to take effect.
• Once chosen, this option is automatically extended, unless the taxpayer expressly renounces or is excluded from the scheme.
->Renunciation: Must be submitted via the census declaration in November prior to the calendar year in which it is to take effect. The renunciation remains in effect for a period of 3 years.
-> Exclusion: Occurs when the taxpayer's VAT reporting period ceases to be monthly, effective from the date on which the obligation to file monthly returns ends.
• Monthly VAT returns are a requirement to participate in this scheme.
