ICONOS FINALES-TRAZADOS

BASQUE COUNTRY AND NAVARRE: How to compute income from business activity in Income Tax?

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If you are a business owner under the direct estimation regime for Income Tax, please consider these general rules for computing the income from your activity.

Please note the following:

✔ Income obtained from the sale of products and/or the provision of services is governed by Corporate rules and must be computed in Income Tax as income from economic activities;

✔ You must declare them in the tax year in which the sales or services were carried out (accrual date), regardless of the due date and collection date.

✔ Do not recognize advance payments as income until the corresponding sale or service is completed.

✔ In the Basque Country, income (positive or negative) derived from the transfer of assets related to the activity is declared as activity income; in Navarre, they are quantified and taxed according to the rules established for increases and decreases in wealth.

Our professionals will advise you on calculating the income from your activity.
BASQUE COUNTRY AND NAVARRE: How to compute income from business activity in Income Tax?

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