Spain Releases a New VAT Credit Calculator
The VAT credit calculator introduced by the Spanish Tax Authorities is intended to facilitate VAT compliance.
Calculator for Reclaiming VAT
To help taxpayers better understand their VAT responsibilities and monitor their VAT standing, Spain has taken a further step forward in quality and e-services.
The Spanish tax authorities have introduced a VAT credit calculator that provides taxpayers with a snapshot of their credit status as stated in prior periods and their current VAT credit in their tax accounts.
Spanish VAT returns have included the VAT credit that may be carried forward or used to offset the VAT amount owed for the current reporting period, based on official records and previously reported amounts. The tool provides a breakdown of the past VAT credit amounts and may be utilized at any time, not only while filing the Spanish VAT return.