Surveillance of businesses least hit by the crisis

While sectors such as tourism or hospitality have suffered the biggest blow, other activities, many of them digital, have weathered the gale and have even improved their performance. And that is where the Treasury wants to put the magnifying glass.

The coronavirus pandemic and the restrictions imposed to limit contagion have overcome a blow to economic activity, which, however, has not punished all businesses equally. While sectors such as tourism or hospitality have taken the biggest hit, other activities, many of them digital, have withstood the storm and have even improved their performance. And that is where the Treasury wants to put the magnifying glass.

The tax control plan indicates that the Agency plans to evaluate "with a higher level of priority" those activities of multinationals and large companies that have been less affected by the crisis unleashed by covid-19. Although it does not offer a detailed list of the sectors on which it intends to tighten the fence, it does expressly mention the digital business: "Especially in this 2021, the Tax Agency plans to increase actions in those digital activities that, in the current context, may present higher tax risk.

Treasury indicates that these checks will be aimed at verifying that the financial expenses deducted by the companies that pay taxes as a group are correct, and that the payments of interest and dividends are verified. It also adds that throughout this year "a significant number of multilateral controls" will be carried out within the EU to analyze intra-group payments for the transfer of intangibles, and the development of the new automated risk analysis system will be completed. in transfer prices, which will be reinforced thanks to the implementation of the DAC 6 directive that obliges intermediaries to report aggressive tax planning.

Likewise, the Tax Agency will reinforce in 2021 the measures to control the activity carried out through electronic commerce, which has experienced a boost since the declaration of the first state of alarm in March of last year. In this sense, the Treasury points out that the Google rate can help determine the real scope of the activity of the large digital platforms. This tax, which came into force on January 16, still lacks the regulatory development for it to be de facto collected. Therefore, the government has decided to postpone the first settlement to the second quarter.

This should not prevent the review of compliance with the tax obligations of all taxpayers from continuing", the document points out, "either because individually they have managed to maintain their economic situation with better success than their direct competitors, or because the old risks that they drag advise carrying out verification actions”.


Cryptocurrencies have also experienced a boom during the year of the pandemic, with bitcoin setting a record price. Against this background, the control plan of the Tax Agency includes a section addressed to virtual currencies, in which it warns that it plans to strengthen control over operations carried out with them, incorporating information to the model of goods and rights abroad and establishing an autonomous information obligation on cryptocurrencies. The document also states that the information obtained will be systematized and analyzed - also for control actions against trafficking and trade in all kinds of illicit goods - and international cooperation will be promoted.

Source: the country.

Surveillance of businesses least hit by the crisis
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