In the UK the situation is clear. A charity has tax exemption on any surplus.
What is the situation in Spain? For example:
2016
Fundraising €10,000
Cost of events €8,000
Surplus €2,000
2016 Donation to good cause: €2,000
Balance: zero
Is there a tax liability?
Alternatively
2016
Fundraising €10,000
Cost of events €8,000
Surplus €2,000
Balance: €2,000
But donation (of €2,000) not made until 2017
Is there a tax liability?
In other words what are the tax liabilities of a charity?
Please no speculation, simply an answer from someone with experience of accounting for a Spanish charity AND abiding by Spanish tax law clearly communicated by a tax professional.
Thanks.
Tax law WRT charities
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