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Tax Alert – Spain – Requirements for CCS Reporting Changing from January Onwards

From the 1st January 2019 there are big changes in the information required to pay and declare Consorcio taxes in Spain.

These changes will effect both the Extraordinary Risk taxes and the Winding up of Insurance Companies Fund (formerly known as the CLEA). This means that almost all insurance policies written in Spain will be affected, including Property Damage, Business Interruption and Motor.

The additional details required are summarised as follows:

For all policies

– Unique market reference
– Policy Number
– 5 digit Spanish postcode
– Inception date
– Expiry Date
– Booked Date
– Issue Date
– Type of entry eg New, Endorsement, renewal etc
– Instalment type eg annual premium. 1 yearly, quarterly etc
– Winding up of Insurance Companies Fund contribution amount

In addition, for policies covering extraordinary risks (Property Damage, Business Interruption, Personal Accident):

– Sum Insured
– Limit of indemnity

Full details on policy count & Sum Insureds will also be required on civil engineering and motor extraordinary risks.

This additional data must be presented to the CCS in the subscribed format for validation before the 20th of each month. If validated by the 20th of the month, then the usual 5% prompt payment discount will be applied to the Extraordinary Risk element. If validated after the 20th of the month, the full amount is payable.

All data must be validated before any payment can be made.

This does not affect the monthly Insurance Premium tax which will continue to be processed in the same way.

As always, if you have any questions please get in touch with a member of the teamĀ atĀ

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