find out what it is, how to check it and modify it
Knowing your tax information is an obligation when you have to file your income tax return in Spain. In this sense, keeping this information up to date is essential to avoid any penalties or problems with the Tax Agency.
To avoid this situation, our experts created a guide with everything you need to know about tax data, its types, classification and how you can modify it if necessary.
Definition of tax data
When we talk about tax data, we are referring to all the financial and accounting information that is held by the Tax Agency about your company. In the case of individuals, this includes personal data and data related to their sources of income. All this information is used when filing income tax returns, so it must always be kept up to date and error-free.
Companies, above all, must ensure that they comply with all uk email list the legal requirements demanded by the Treasury. For this reason, they must submit tax data such as their name and tax identification number, registration, obligations and tax certificates, among others.
Importance of tax data
The relevance of accessing tax data varies depending on who consults it. In email marketing: the ultimate guide to impacting your audience this regard, the benefits for the state, the Tax Agency and the taxpayer themselves can be considered.
Both the State and the Tax Agency have access to this data, so that the country’s administration can take economic and fiscal measures that benefit the population.
For its part, the agency only uses the information to calculate taxes, although it sms to data also allows it to assess whether a financial activity is fraudulent or not. Finally, the taxpayer benefits from having a means to check their financial situation in order to improve their medium and long-term economic planning.
Types of tax data
If we talk exclusively about the business sector, it is easy to see that there is a lot of information that must be submitted to the Tax Agency. For this reason, there is a small classification of tax data, which is shown below:
- Personal data : as the name indicates, this is all the data that identifies the company, including its legal name, tax identification number ( NIF ), names of its partners, tax address, contacts and information about the number of employees, salaries, among others.
- Revenue data : This is where all the information regarding the money the company earns from rent, product sales, subsidies and external financing is classified.
- Expense data : In this case, all expenses arising from economic activities must be recorded. It is from the operating expenses that it is determined how profitable the business is.
- Asset and property data : These are all non-current assets owned by the company and which form part of the calculation of the taxable base for taxes payable when filing the income tax return.
- Other relevant data : finally, depending on the type of activity your company carries out, you will need to enter or not some additional tax data.