Welex, a law and economist firm in Spain, is pleased to write a few lines explaining the closing of a Spanish company’s accounting books.

Non Resident tax in Spain

It is customary to clear the books after the beginning of a new year, but in accounting, this is not possible. Even though the financial year typically ends on December 31, in Spain we cannot truly delete the past year until July when the corporate tax is filed.

In order to begin the process of closing the accounting books at the conclusion of each fiscal year, your company’s accountant in Spain must put in a lot of effort. In general, it is appropriate to note that the phases of accounting closing and fiscal closure consist of three extremely intricate and precise steps. Which are:

1º Accounting closing.

2º Presentation of accountancy books and annual accounts in the Mercantile Register.

3º Presentation of Spanish company tax form.

The accounting closing takes place on December 31, except in particular cases, and could be created or modified after that date, but never exceeding the period of presentation of accountancy books and annual accounts (April of the following year). Theoretically, the accounting closing helps us to obtain the losses or benefits of a company, but, in practice, it is a stage of revision, detection of errors, and adjustments.


If you are interested in finding out more about the Closing of a Spanish company’s accounting books, read on here.

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