It is an informative model that includes the company's operations with related persons or entities carried out in the previous year, in this case 2023.

The following are related entities or persons: An entity and its partners, directors, and their spouses or relatives up to the third degree; two entities belonging to the same group and their partners, directors and their spouses or relatives up to the third degree; one entity and another with a stake of at least 25% of the share capital.

What operations are presented in form 232?

• Transactions with related persons or entities, in compliance with the obligation provided for in the regulation to include, in the declarations provided for, information relating to related-party transactions.
• Transactions with related persons or entities in the event of application of the reduction of income from certain intangible assets
• Operations and situations related to countries or territories considered tax havens.

Which operations are excluded from the obligation to submit Form 232?

• Tax groups (regardless of trading volume).
• AIE, UTE (regardless of the volume of operations) with the exception of UTE or other similar forms of collaboration that are eligible for exemption from income obtained abroad through a Permanent Establishment.
• Operations carried out within the scope of public offerings for sale or public offerings for the acquisition of securities (regardless of the volume of operations).

What is the deadline for submission?

For transactions accrued during the 2023 fiscal year (whose tax period coincides with the calendar year), the deadline for filing Form 232 for this year is 12/02/2024.

For the rest of entities (tax period does not coincide with the calendar year): in the month following the ten months after the end of the tax period.

Who must submit Form 232?

It must be submitted by  non-resident corporate tax and income tax taxpayers  who act through a permanent establishment and entities under the income attribution regime established abroad with a presence in Spanish territory that carry out the following operations with related persons or entities:

• Transactions carried out with the same related person or entity provided that the amount of the consideration for the set of operations in the tax period exceeds €250,000 in market value.
• Specific operations, provided that the total amount of each of these operations in the tax period exceeds €100,000 (sales of real estate, shares, etc.).
• When there are operations of the same type that, in turn, use the same valuation method, provided that the combined amount of these operations in the tax period is greater than 50% of the entity's turnover.
• If the reduction of income from certain intangible assets is applied, when obtaining income as a result of the transfer of certain intangibles to related persons or entities.
• In cases where the taxpayer carries out operations and holds securities in countries or territories classified as tax havens, regardless of their value. 

It is important to stress the importance of the correct declaration and presentation of these operations in form 232, given that, pursuant to article 198 of the General Tax Law, the Tax Agency can impose a fine of 20 euros for each omitted piece of information, with a minimum of 300 euros and a maximum of 20,000 euros. However, if the declaration is submitted after the deadline without prior request, the fine and previous limits are reduced by half.

On the other hand, filing Form 232 incorrectly, inaccurately or with false data exposes the taxpayer to a proportional fine of up to 2% of the amount of the transactions not declared or declared incorrectly, with a minimum of €500.