{"id":6193,"date":"2018-12-07T10:00:35","date_gmt":"2018-12-07T09:00:35","guid":{"rendered":"http:\/\/blogs.uned.es\/emprende\/?p=4703"},"modified":"2019-04-01T11:42:45","modified_gmt":"2019-04-01T10:42:45","slug":"taxation-basic-for-entrepreneurs-iii-vat","status":"publish","type":"post","link":"https:\/\/blogs.uned.es\/emprende\/taxation-basic-for-entrepreneurs-iii-vat\/","title":{"rendered":"BASIC TAXATION FOR ENTREPRENEURS III (VAT)"},"content":{"rendered":"

\"\"Following Our formative itinerary we started a couple of weeks ago about the taxation to be faced by the self-employed, this week we will talk about VAT (Value Added Tax). What We present today is a simple compilation of what you must know in a way as simple and clear as possible. Colloquially speaking, we could say that VAT is a tax burden on consumption. Each self-employed or company in the production chain will transfer its VAT to the next link until it reaches the final consumer to crediting it to the Treasury. That Is why we consider it an indirect tax: it is the <\/strong>amount of money or kind of tax collected by a company that pays the tax to the collecting agent, Treasury, and it affects all or much of the amount of that tax in who is the final consumer. <\/strong> The Employer must pay the difference between the VAT that has been levied and charged to his clients, and the one he has supported for his purchases to suppliers. The delivery of goods, services, imports of goods and intra-Community procurement Are subject to VAT. Taxable Persons (to whom VAT is affected):<\/u><\/strong><\/p>\n

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  1. The entrepreneur or professional who delivers the good or provides the service. The Seller is obliged to pass the VAT to the customer.<\/li>\n
  2. The Taxable person in intra-Community procurement of goods. In this case the taxable person is the businessman located in Spain who buys the good.<\/li>\n
  3. In Imports of Goods: the taxpayer is the importer of the good. The importer will pay the VAT at customs.<\/li>\n
  4. Services that are understood in Spain, but in which the service provider is located outside Spain. In this case, the taxpayer will be the one who receives the service<\/li>\n<\/ol>\n

    VAT Calculation<\/u><\/strong>: In General, in each liquidation the VAT charged to the clients is declared, to which we subtract the VAT supported in our purchases to the suppliers: VAT To DECLARE HACIENDA = VAT ACCRUed-VAT S<\/strong>UPPORTED VAT accrued\/charged to<\/strong> clients = Sale Price \u00d7 VAT Rate Accrued (%) of each invoice issued. VAT supported in purchases to our suppliers = Pur<\/strong>chase Price \u00d7 Type of VAT supported (%) of each invoice received for purchases and expenses. Declarations to be presented (V<\/u><\/strong>AT): In Order to contribute the collection to the Treasury the autonomous workers must present the quarterly and annual VAT declarations through the Mode<\/a>l 303 (quarterly) and also, obligatorily, the Model 390 <\/a>(annual). Model 303:<\/u><\/strong> It Is The main model, which must present the vast majority of freelancers and companies, to liquidate<\/strong> VAT Quarterly<\/strong>. It’S the most common model. Through this model the businessmen and professionals communicate to the Tax Agency the VAT that they have invoiced for their sales and the one that they have supported in their purchases. When should Model 303 be presented?<\/u><\/p>\n