Tax news in February: Mandatory declaration of beneficial owners in form 036
Puigverd Assessors analyses the new tax developments in February: Mandatory declaration of beneficial owners in form 036
13/02/2025
As of February 3, 2025, companies in Spain must comply with a new tax obligation: to declare the identity of their beneficial owners when filing Form 036. This measure, introduced by Order HAC/1526/2024 and published in the Official State Gazette (BOE) on January 9, 2025, has the main objective of strengthening fiscal transparency and combating fraud, money laundering and terrorist financing.
A new page 10 is introduced in form 036 for the identification of the beneficial owners of legal persons and entities in order to comply with the new obligation of legal persons or entities to notify the Tax Administration of the identification of their beneficial owners, included in article 93 of the LGT by Law 13/2023 and developed by RD 117/2024, which introduced the beneficial ownership of legal persons and entities as a new data to be reported in the Census of Taxpayers.
Form 036 is the document used for the census declaration of registration, modification and deregistration in the Census of Business Owners, Professionals and Tax Withholders. This census is essential for the Tax Agency to have an updated record of the economic activities carried out in the country. Until now, Form 036 collected basic information about the entity, but with the new regulations it is expanded to include data on the real owners of the companies.
According to the regulations, a beneficial owner is considered to be a natural person who, directly or indirectly, owns or controls more than 25% of the capital or voting rights of an entity, or who, by other means, exercises direct or indirect control over the management of the entity. In the absence of a person who meets these criteria, a beneficial owner is considered to be a natural person who holds a senior management position or who performs management functions in the entity.
From the date mentioned above, all companies must provide the Tax Agency with detailed information about their beneficial owners when filing Form 036. This obligation extends to all entities, regardless of their size or legal form, including limited companies, public limited companies, cooperatives and other corporate forms.
The information to be provided includes:
Name and surname of the beneficial owner; Tax identification number (NIF); Date of birth; Nationality; Country of residence; Type and number of identification document; Percentage of participation in the capital or voting rights, if applicable.
Furthermore, any change in the actual ownership of the company must be communicated to the Tax Agency by submitting a census modification declaration in form 036 within one month of the change occurring.
For business owners and entrepreneurs, this new obligation involves a series of important considerations:
The introduction of the obligation to declare beneficial ownership in Form 036 from February 2025 represents a significant step towards greater tax transparency in Spain. For business owners and entrepreneurs, it is essential to understand this new obligation and take the necessary measures to comply with it, thus ensuring business management in compliance with current regulations and avoiding possible sanctions.
Staying informed and obtaining appropriate professional advice will be key to adapting to this regulatory change and ensuring proper compliance with tax obligations.
A new page 10 is introduced in form 036 for the identification of the beneficial owners of legal persons and entities in order to comply with the new obligation of legal persons or entities to notify the Tax Administration of the identification of their beneficial owners, included in article 93 of the LGT by Law 13/2023 and developed by RD 117/2024, which introduced the beneficial ownership of legal persons and entities as a new data to be reported in the Census of Taxpayers.
What is form 036?
Form 036 is the document used for the census declaration of registration, modification and deregistration in the Census of Business Owners, Professionals and Tax Withholders. This census is essential for the Tax Agency to have an updated record of the economic activities carried out in the country. Until now, Form 036 collected basic information about the entity, but with the new regulations it is expanded to include data on the real owners of the companies.
Who are the real owners?
According to the regulations, a beneficial owner is considered to be a natural person who, directly or indirectly, owns or controls more than 25% of the capital or voting rights of an entity, or who, by other means, exercises direct or indirect control over the management of the entity. In the absence of a person who meets these criteria, a beneficial owner is considered to be a natural person who holds a senior management position or who performs management functions in the entity.
Obligations for business owners and entrepreneurs
From the date mentioned above, all companies must provide the Tax Agency with detailed information about their beneficial owners when filing Form 036. This obligation extends to all entities, regardless of their size or legal form, including limited companies, public limited companies, cooperatives and other corporate forms.The information to be provided includes:
Name and surname of the beneficial owner; Tax identification number (NIF); Date of birth; Nationality; Country of residence; Type and number of identification document; Percentage of participation in the capital or voting rights, if applicable.
Furthermore, any change in the actual ownership of the company must be communicated to the Tax Agency by submitting a census modification declaration in form 036 within one month of the change occurring.
Implications for business management
For business owners and entrepreneurs, this new obligation involves a series of important considerations:- Data update: It is essential to keep the information on the company's ownership structure up to date. Any change in the shareholding structure or control structure must be reflected in a timely manner in Form 036.
- Document management: It will be necessary to have documentation to support the information provided on the beneficial owners, such as registers of partners or shareholders, corporate agreements and other relevant documents.
- Professional advice: Given the complexity of the regulations and the possible legal implications, it is advisable to have the support of tax and legal advisors to ensure proper compliance with this obligation.
Other modifications Order HAC/1526/2024
- ELIMINATES form 037 for the simplified census declaration of registration, modification and deregistration in the Census of entrepreneurs, professionals and withholding agents. The new tools for assistance in census matters together with the improvement produced in the programs for assistance in completion, allow the simplification represented by form 037 to be offered to taxpayers through form 036 itself.
- NEW form 036 for the Census Declaration of registration, modification and deregistration in the Census of entrepreneurs, professionals and withholding agents.
- New form 030 for the Census Declaration of registration in the Census of taxpayers, change of address and/or variation of personal data, which can be used by natural persons.
- A new box is introduced in form 036 to indicate the new reason for submission provided for in letter u) of article 10.2 of the REGAT introduced by RD 117/2024: the application for rehabilitation of the NIF will be made through a modification of the Census.
- A new box is introduced in form 036 which must be completed in the case of requesting rehabilitation of the tax identification number for entities in the process of liquidation .
- Technical improvement in forms 030 and 036 that allows the authorization to use the telephone number and/or email address provided to make notices of a purely informative nature to be granted independently to the AEAT, the Economic-Administrative Courts of the State and the General Directorate of Taxes. The data provided will be unique for all the organizations to which you subscribe or were subscribed. And the AEAT app is included as a means of receiving informative notices. It should be noted that the telephone number and/or email address provided will be unique for the three organizations.
Penalties for non-compliance
Failure to comply with this new obligation may result in financial penalties. Although the regulations do not specify the exact amounts, it is likely that the penalties will be proportional to the seriousness of the infringement and the financial capacity of the offending entity. Therefore, it is crucial that companies take the necessary measures to comply with this obligation and avoid possible penalties.The introduction of the obligation to declare beneficial ownership in Form 036 from February 2025 represents a significant step towards greater tax transparency in Spain. For business owners and entrepreneurs, it is essential to understand this new obligation and take the necessary measures to comply with it, thus ensuring business management in compliance with current regulations and avoiding possible sanctions.
Staying informed and obtaining appropriate professional advice will be key to adapting to this regulatory change and ensuring proper compliance with tax obligations.