The taxation of a community of goods can sometimes be a complex issue, This entity is common in Spain and has its own fiscal particularities.
In this article we explain everything you need to know about himto taxation of the community of goods.
What is a community of goods?
A community of goods is a legal form in which Two or more natural persons come together To exploit a good or perform an economic activity. He has no legal personality, which means that The community members (pity) They are directly responsible for tax and legal obligations.
What are the fiscal obligations of the community of goods?
Although the community of goods has no legal personality, Yes it has fiscal obligations that must be fulfilled by the community members. Next, We detail the main ones:
Income Tax for natural persons (IRPF)
- The benefits obtained by the community of goods are distributed among the community members according to their percentage of participation.
- Each community member must include their part of the benefits in their IRPF statement.
Value Added Tax (IVA)
- The community of goods must be registered in the business census, professionals and retainers.
- It is obliged to present quarterly and annual VAT statements.
- You must carry detailed control of the invoices issued and received.
Corporate tax:
- The property community is not subject to the Corporation Tax, since he has no legal personality of his own.
Withholdings and income on account:
- If the community of goods has employees, You must practice retaining IRPF in payrolls and presenting them quarterly.
- You must also carry out retention in payments to professionals and other suppliers, If applicable.
So, What are the advantages of a community of goods?
- Simplicity: The constitution of a community of goods is simple and does not require a minimum capital.
- Flexibility: Allows flexible and adapted management to the needs of the community members.
- Transparent taxation: The benefits are distributed directly among the community members, What can simplify taxation.
And the disadvantages of a community of goods?
- Unlimited responsibility: The community members respond with their personal assets of the debts and obligations of the community of goods.
- Fiscal complexity: Although it does not pay for the Corporation Tax, The community of goods has multiple tax obligations that must be properly managed
- Growth limitations: It may not be the most appropriate structure for businesses that seek to grow and attract external investment.
The community of goods is a Viable option for small businesses and joint economic activities, But it is crucial to understand its tax implications.
The team of Community Advisors of Assets of Vázquez and Machón advice to help you manage all the fiscal obligations of your community of goods and ensure that you comply with the current regulations.
