SME taxes 2023 [Guía fácil para pagar menos]

The tax obligations can be a headache for the little ones and medium businesses. Therefore, in VerySMEs we have created an easy guide that will help you understand everything that you need know about taxes of your business.

In this guide you will find information about the taxes that an SME must pay, how to reduce the amount, deductions Available taxpayers and deadlines to file the return. In addition, we will explain the characteristics of SMEs and how taxation affects these companies. With this guide, we hope that you can adequately plan the taxation of your business and avoid errors that could generate fines or sanctions by the tax authority.

What taxes do SMEs pay in 2023?

In general, businesses must file the following tax returns:

• Corporate tax: This tax is levied on the income obtained by companies and legal entities. The deadline for filing the Corporate Tax return is usually annual and ends on July 25, 2023.
• Tax on Economic Activities (IAE): This municipal tax must be paid by all companies that carry out an economic activity in a given municipality. The amount to be paid depends on the type of activity carried out and the size of the company. The term to present the IAE declaration is usually annual and ends on March 31, 2023.
• Value Added Tax (VAT): This indirect tax is levied on the consumption of goods and services. Companies must charge this tax on their invoices and then pay it to the Treasury. There are different types of VAT, such as general (21%), reduced (10%) and super-reduced (4%). The deadline for submitting the VAT return is usually quarterly.

It is important to note that there are other tributes that may affect companies, such as the Property Transfer Tax and Documented Legal Acts (ITP-AJD), the Inheritance and Donation Tax (ISD) or the Real Estate Tax (IBI). In addition, it is important to pay attention to the tax deductions to which you are entitled, since they can reduce the amount you pay in taxes.

On the other hand, you have to know that there are scams related to all this. It is advisable to be alert to any suspicious communication by supposed representatives of the Treasury and not provide personal or financial information without first verifying its authenticity. In conclusion, complying with tax obligations can be a complicated process, but it is essential to avoid penalties and fines from the Treasury.

Deductions for SMEs in Spain in 2023

There are several tax deductions to which companies in Spain may be entitled in 2023, among them are:

• Deductions for innovation: companies investing in research and development projects may be entitled to innovation tax deductions. The eligible investment in new innovative companies amounts to a maximum of 100,000 euros for each fiscal period.
• Deduction for investment in newly created companies: tax benefits aimed at attracting investors is another important point of this law. Companies that invest in startups may be entitled to tax deductions.
• Deductions and tax benefits in Corporate Tax: There are various deductions and tax benefits that can be applied to Corporate Tax, such as deductions to encourage the performance of certain activities, discounts in the Canary Islands or tax incentives for small companies.
• Corporate Tax Reduction: For all companies with a turnover of less than one million euros, the Corporation Tax (IS) goes from 25% to 23%. Also, if they have less than four years of life, the tax base is now 15%.

It is important to bear in mind that these tax deductions may vary according to the particular situation of each company and must be consulted with a tax advisor.

10 key tips to reduce taxes for your SME

Filing taxes can be a complicated process, but it is essential to avoid fines and penalties from the tax authority. These tips can streamline this process:

1. Keep informed about tax regulations: It is important to be aware of tax and tax regulations that apply in the country or region where the tax return is made. This will allow you to know the specific requirements and avoid errors that can generate fines or sanctions.
2. consult with a adviser or manager Specialized in taxes: A tax advisor can help reduce the tax burden of the business, find tax deductions and structure income and expenses efficiently. In addition, a specialized manager can help keep tax information up to date and comply with legal obligations.
3. To plan Adequate business taxation: It is important to adequately plan business taxation in order to take advantage of available tax deductions and exemptions. This involves analyzing income, expenses and long-term goals to establish a plan that allows you to take full advantage of tax opportunities.
4. structure the income and expenses efficiently: A good structuring of income and expenses can allow you to take advantage of the available tax deductions and exemptions. For example, you can opt for business structures that reduce the tax burden.
5. take advantage of deductions and exemptions Taxes Available: It is important to know the tax deductions and exemptions available so that you can take full advantage of them. For example, social security premiums paid can be deducted or assets purchased for the business can be amortized.
6. Constantly update the tax information: It is important to keep tax information up to date to avoid errors in the tax return. An online advisory agency can be a good option to keep up to date with regard to tax regulations.
7. Be aware of the deadlines to file the tax return: It is important to be aware of the deadlines for filing the tax return and making the corresponding payment. In general, the term is usually at the beginning of the year or in the middle of the fiscal year following the one in which it is being declared.
8. use tools accounting and billing: The accounting and billing tools can help keep an accurate record of income and expenses of the businesswhich can make filing taxes easier and avoid errors that can lead to fines or penalties.
9. Consider the possibility of outsource certain functions: Outsourcing certain functions, such as accounting or payroll, can allow SMEs to focus on their core business and reduce associated costs with the recruitment of staff internal. In addition, third-party providers may have specialized tax knowledge that can be beneficial to the business.
10. Take advantage of opportunities financing. SMEs can take advantage of the financing opportunities available to invest in its growth and development. Some options include loans, grants, and tax credits. It is important to carefully research the options available and choose the that best suits the needs of the business.

It is important to note that each tax situation is unique and it is advisable to consult with a tax advisor for personalized advice on how to pay less tax in 2023.

SME fiscal calendar 2023, the key dates

The 2023 tax calendar for SMEs and the self-employed establishes the following important tax deadlines:

• Of the February 1 to 28: Presentation of Form 347, annual informative declaration of operations with suppliers and clients greater than 3,005.06 euros.
• From the May 10: Opening of the term to present the Income Statement by telephone, which ends on June 30.
• September 2023: The Tax Agency has not specified that any tax must be filed.
• December 2023: From December 1 to 20, payment on account of Corporation Tax (Form 202).
• It is important to bear in mind that these deadlines may vary depending on the autonomous community and the type of company. Therefore, it is advisable to consult a tax advisor to obtain more detailed and personalized information on the important tax deadlines for SMEs in 2023. In addition, you can consult the tax guide for SMEs and the self-employed in 2023 or the tax calendar for SMEs and freelancers for more information.

In conclusion, taxation can be an issue complex for the pymesbut there are many tools and resources available to help to reduce the burden tax and achieve with tax obligations.

It is important stay informed about the regulations prosecutors and tax, consult with a tax adviser or manager, plan properly tax the businessstructure income and expenses efficiently, take advantage of deductions and available tax breaks, constantly updating tax information, and being aware of tax filing deadlines.

Also, there are new tax deductions for the self-employed in 2023 and a fiscal calendar available for the self-employed and companies. Tax planning can also be a useful tool to minimize the tax burden of the taxpayer. In short, with the right help and careful planning, SMEs can meet their tax obligations efficiently and reduce their tax burden.

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