Form 232: control tax risk and improve your company’s transparency

What is Form 232 and why is it important for your company?

Form 232 is a key informative declaration for corporate tax transparency. Its purpose is to report transactions carried out with related parties and those transactions or assets linked to countries or territories classified as tax havens. In addition, this form also collects information on the application of the reduction of income derived from certain intangible assets, known as the “Patent Box”.

This November, as every year, the filing period opens for companies whose fiscal year coincides with the calendar year. For 2025, the ordinary filing deadline ends on November 30, but as this date falls on a Sunday it is extended to Monday, December 1.

Below, we explain everything you need to know to comply correctly with this obligation.

 

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Who is required to file Form 232?

The following taxpayers are required to file this declaration:

• Companies subject to the Corporate Income Tax (IS).
• Taxpayers under the Non-Resident Income Tax (IRNR) with an permanent establishment in Spain.
• Entities established abroad under a pass-through taxation regime that have a presence in Spain.

The obligation depends on whether any of the specific conditions described below are met.

Situations that trigger the obligation

Form 232 must be filed if the company carries out operations that fall into any of the following three categories:

Transactions with related persons or entities

A related person or entity is any person or entity with whom there is a direct or indirect relationship of ownership, control or significant influence. The obligation arises if any of the following conditions are met:

• By volume with the same entity: transactions that exceed €250,000 in the tax period.
• By type of transaction (“specific transactions”): if the total amount of transactions of the same type exceeds €100,000. These transactions include:
  • Transactions with individuals taxed under the objective estimation method, if they hold a ≥25% stake.
  • Transfer of businesses, securities or shares not admitted to trading.
  • Transfer of real estate and transactions involving intangible assets.
• By relevance to turnover: when transactions of the same type exceed 50% of turnover, regardless of the amount.

Reduction of income for intangible assets (“Patent Box”)

Companies that apply the reduction of income derived from the licensing of intangible assets to related entities must also file the form, regardless of the amount of the transaction.

Transactions in tax havens

All transactions with entities or individuals resident in tax havens, as well as the ownership of securities at the close of the fiscal year, must be declared.

This obligation applies regardless of the amount of the transactions or holdings.

Exceptions to the obligation

The following are not required to file Form 232:

• Tax groups.
• Economic interest groupings (AIE) and temporary business unions (UTE), except where they opt for the exemption for foreign-source income (article 22 of the Corporate Income Tax Law).
• Transactions within the framework of public offering of sale (OPV) or takeover bids (OPA).

Filing period and filing method

• Deadline: the month following the ten months after the end of the tax period. For companies with a calendar fiscal year: from November 1 to November 30 (extended to December 1 if the 30th falls on a Sunday).
• Method: filing is compulsorily electronic via the Electronic Office of the Tax Agency.

For fiscal years that do not coincide with the calendar year, the deadline is adapted according to the end of the tax period.

Practical value of Form 232

Filing Form 232 correctly not only avoids penalties, but also demonstrates transparency before the Tax Agency and third parties. The information reported allows the Tax Agency to monitor transactions located in non-cooperative jurisdictions.

In addition, correct compliance supports the confidence of investors and partners, as it reflects solid and responsible corporate governance.

Recommendations for your company

• Keep an up-to-date record of all transactions with related parties and in tax havens.
• Review the threshold amounts and the specific transactions that trigger the obligation.
• Prepare the documentation that justifies each transaction and its valuation.
• Plan the filing of the form in advance to avoid delays and errors.

Fulfil Form 232 with the help of Adlanter

At Adlanter we offer specialised accounting and tax advisory services to ensure your company complies with all tax information obligations, including Form 232. Our tax management team helps you interpret the instructions, verify the documentation and file the form within the deadline, ensuring secure and efficient compliance.