In recent years, the consumption capacity of southern European countries such as Spain and Italy has continued to rise, becoming the “focus of attention” of many cross-border sellers. The statistics department predicts that the growth rate of Spanish e-commerce may reach 9.1% from 2018 to 2022! If you want to do well in cross-border business, southern European countries are indispensable. However, many novice sellers have many concerns before entering the Spanish market, the largest of which is about VAT declaration. Today, the editor will explain to you the precautions of Spanish VAT! Full of dry goods, take it away for free!
1. How many times a year should Spanish VAT be declared?
According to Spanish tax policy, each VAT tax number needs to declare the import and sales situation of the quarter to the Spanish tax department (AEAT) once a quarter. For tax numbers applied for as persons or companies outside the EU, only VAT needs to be declared and paid.
According to regulations, the Spanish VAT declaration period is from April 1st to 20th in April, July and October each year, and from January 1st to 31st in the following year. In addition, in addition to the four quarterly declarations, Spain also requires one annual declaration.
Therefore, Spanish VAT requires five declarations a year.
2. What is the tax rate for the goods sold?
Spanish VAT has three tax rates for different goods, and each seller can choose the right one:
21%: standard tax rate, applicable to most goods and services;
10%: low tax rate, applicable to food and catering (such as meat, fish, etc.);
4%: ultra-low tax rate, applicable to medicines and daily necessities (such as bread, milk, vegetables, etc.)
3. How to settle import taxes and sales taxes under VAT tax numbers?
Import taxes, as the name suggests, are taxes and fees that you need to pay to customs when you ship goods to Spain. Import tax includes import tariff and import VAT, which are calculated as follows:
Import tariff = declared value * product tax rate
Import VAT = (declared value + first-leg freight + import tariff) * 21%
Sales tax refers to the post-sales tax that needs to be paid after the goods are sold. Taking the 21% tax rate as an example, the sales tax is calculated as follows:
Sales tax = market sales price/1.21 * 21%
The above are the Spanish VAT issues that sellers need to pay attention to, I hope it will be helpful to you!