In other articles of this blog we have talked about the obligatory commercial books for a company: the Minutes Book and the Partners&#8217; Register Book. However, these are not the only book obligations that commercial companies have to comply with. In addition to the mercantile books, it is necessary for them to have a series of accounting and tax books.
Compulsory Accounting Books
The accounting books are used so that a company or a self-employed person can keep an orderly accounting that allows them to follow chronologically all their mercantile and administrative activities. They can be obligatory or voluntary. The obligatory books, in which we are going to stop next, are the Diary Book and the Book of Inventory and Annual Accounts. On the other hand, the voluntary books are the General Ledger and other auxiliary books, such as the Cash Book, the Book of Warehouse Entries and Exits, the Bank Book or the Auxiliary Book of Maturities.
Journal
All transactions related to the economic activity are recorded in the journal. This record must be kept on a daily or chronological basis. The recording of these transactions must be done in an accounting format and nomenclature. This requires a certain degree of accounting knowledge to keep it and also to interpret it.
The journal is prepared for each fiscal year, which usually coincides with the calendar year. 
It begins with a record of the initial situation of the company (opening entry), records the operations of the year, and finally closes with a record of the final situation of the year (closing entry).
Inventory and Annual Accounts Book
The purpose of this is to keep a record of the evolution of the company&#8217;s situation. First, a record is made of the initial situation. Afterwards, the evolution is registered in determined periods of time. These periods can never exceed three months. 
The evolution is carried out by means of balance sheets, the final inventory of the company and, in addition, a set of accounting reports called “Annual Accounts”.
The Annual Accounts include the following accounting reports:
<ul>
<li>BalanceSheet: report on the company&#8217;s assets and liabilities.</li>
<li>Profit and Loss Statement: report on income, expenses and final result.</li>
<li>Statement of changes in equity: report on changes in equity.</li>
<li>AnnualReport: explanation and detail of the previous ones.</li>
<li>Statement of cash flows (only for some companies).</li>
</ul>
In addition to these obligatory books, we have to talk about the General Ledger. This is necessary for the company&#8217;s accounting to comply with both the Commercial Code and the General Accounting Plan. Although this book is not obligatory to legalize it, since it gathers the same information that the daily book but in different format, if that it is considered necessary to have it.
Mandatory Tax Books
These books are mandatory for the companies that have to declare the Value Added Tax (VAT). In these books the economic actions of the company throughout the financial year will be registered. When the time comes to file the tax, it must be done taking into account what is stipulated in these books. The obligatory tax books are: Book of invoices issued, Book of invoices received, Book of investment goods, Book of intra-community operations (if any).
What is the legalization of the obligatory books?
All the minutes of the meetings of the collegiate bodies of the mercantile companies must be reflected in electronic support. This obligation also applies if there is only one partner and one administrator. When it comes to legalize this record of the minutes, we have to take into account that, since 2013, this is done telematically. 
Therefore, the minute books must be presented for their legalization in this format, and within four months following the closing of the corporate year.
In each fiscal year, the minutes of the preceding fiscal year must be legalized. This book may be a single book for the minutes of all the company&#8217;s collegiate bodies, or also a book for each of the collegiate bodies. 
The opening and closing dates of the fiscal year must be recorded in each of these books.
<h3>When are the accounting books prepared, legalized and deposited?</h3>
The legislation establishes specific deadlines for the preparation, legalization and deposit of the obligatory accounting books:
Preparation of accounting books: there is a deadline of three months after the close of the fiscal year for the closing of the accounting and the preparation of the accounting books. 
As for most of the companies the accounting year coincides with the calendar year, the closing of the accounting year would be December 31, and the deadline for the preparation of books would be March 30 of the following year.
Legalization of official books: up to four months from the close of the accounting year (April 30 in the case of a calendar year). 
If it is presented after this date, the expression “out of term” will appear, but it does not entail any penalty.
Deposit of the Annual Accounts: up to one month from their approval at the Ordinary General Meeting of Shareholders. 
This Meeting must be held within six months of the end of the financial year, so, in order to make the deadline shorter, the deposit can be made up to July 30 for the financial years that coincide with the calendar year.
Outsource your accounting with Vasalto
At Vasalto, we have been helping companies with a comprehensive service for more than 30 years. We offer both payroll outsourcing services and advice on your accounting. During these years we have worked hand in hand with a large number of clients who are leaders in their respective sectors, which gives us a great deal of experience in the sector.
We are present in several countries, with headquarters in Madrid, Barcelona, Porto and Bordeaux, and we have clients all over the world, as well as collaborators in more than fifty countries. Moreover, Vasalto is a purely technological company. We believe in putting technology at the service of talent. 
That is why we have a series of proprietary computer systems that allow us to manage more than 35,000 payrolls every month and automate most of our clients&#8217; accounting procedures.
Thanks to Valanza, Vasalto&#8217;s legal office, we also have a team of lawyers specialised in the areas of commercial, civil, labour and administrative law, among others. 
We count on them to provide the best legal assistance possible, always working towards comprehensive service.
If you are interested in learning more about payroll outsourcing, at Vasalto we will be happy to assist you. Contact us to get to know us and see how we can help your company.

What are the mandatory books for a commercial company?

En otros artículos de este blog hemos hablado sobre los libros mercantiles obligatorios para una empresa: el Libro de Actas y el Libro registro de socios. Sin embargo, estas no son las únicas obligaciones en materia de libros que tienen que cumplir las sociedades mercantiles. Además de los libros mercantiles, es necesario que tengan una&hellip; Seguir leyendo Cuáles son los libros obligatorios para una sociedad mercantil?

Cuáles son los libros obligatorios para una sociedad mercantil? - Vasalto

Cuáles son los libros obligatorios para una sociedad mercantil?

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The partners&#8217; registry book is one of the obligatory commercial books in a company. It is the registry document in which the identity of the different partners owning shares in a business entity is recorded. In this book the evolution or transfers of these participations must also be recorded. Before talking about the characteristics of this book, it is necessary to clarify that for this same purpose, the name of the mercantile book can be different.
In the first place, we have the book of registration of the partners. This book is used for limited liability companies (SL), labor limited companies (SLL) and mutual guarantee companies (SGR). The company record book is the one that must be filed by sole proprietorships (SLU). In this case, since there is only one partner, the agreements with this one must be recorded. Lastly, there is the book of registered shares. This book is used by corporations (SA), labor corporations (SAL) and limited partnerships by shares. The main difference between this book and the two previous ones is that the entities have nominative shares. Therefore, it is necessary to keep a record of who the owners of these shares are.
Now that we have differentiated between the different types of books, let&#8217;s answer the most frequently asked questions when we talk about the partners&#8217; record book and its analogues.
What is a shareholders&#8217; ledger?
As we have already mentioned, the shareholders&#8217; ledger is the one in which the ownership of the participations, or shares if applicable, of a company is recorded, as well as their contributions to the company&#8217;s assets. For it, it will have to gather: the data of the founding partners, the transfers of participations and shares that take place and who are the holders of each share or participation and their addresses.
Although it may seem that its usefulness is merely registry, that is to say, to have a history of the participations of the company, this book fulfills a more important function. It is the registration in this book that legitimizes the partners of a company to participate in the usual shares of the company. A clear example of this power is the holding of meetings. If the ownership of shares is not recorded in the registry book, that person will not be able to take shares in the meeting, and his voice will not be heard when it comes to making decisions.
Although this is the general precept for the attendance to the meetings, it is necessary to clarify that it is not an absolute principle. In fact, there may be cases in which it contradicts what is established in the register of members. It may be the case that, despite the fact that a person is formally registered as a partner, he/she is deprived of his/her attendance and vote in the decisions of the entity. This can occur if the company, and in particular the Chairman of the Meeting, is aware that the person is no longer a member. This proof must be well proven and documented in order to be able to defend oneself against possible legal problems.
This situation can also occur in the other direction. If the company and the Chairman of the Meeting are aware that a person is indeed a member, he/she will be able to attend and vote at the meeting even though he/she is not formally registered in the register of members.
What information should be included in the register book?
Once we have explained what is and what are the main functions of the register book, it is necessary to dwell on what this book must include to be considered as such. Essentially, we refer to:
<ul>
<li>The ownership of all the shares. In order to correctly identify each of the owners, it is necessary to include their name and surname, their address and their tax identification number (NIF).</li>
<li>The number of shares of each partner. The title and date of acquisition of these shares must also appear.</li>
<li>The numbering of the shares.</li>
<li>The public deed of ownership.</li>
<li>The sales or disposals of the shares.</li>
</ul>
What data must the registry book include?
At the time of legalizing the register book of partners, we have to take into account that, since 2013, this is done telematically. Therefore, it has to be presented for its legalization in this format, and within the four months following the closing of the corporate year. This legalization has to be done at the Mercantile Registry of the registered office of the entity. The deadline to submit it is 4 months after the closing of the fiscal year. Therefore, if we take as a reference the calendar year to conclude the financial year, both the register of members and all the obligatory books have to be presented on April 30 of the following year.
Although this is the deadline for submitting them, legalization after the deadline does not imply a penalty. The Regulations of the Mercantile Registry state that “In the event that the legalization is requested after the legal deadline, the Registrar will so state in the diligence of the Book and in the corresponding entry in the legalization file-book”.
However, although there is no commercial sanction, it can be sanctioned due to the tax consequences. The article 200 of the General Tax Law, the non presentation of the books is considered a serious infraction, with a sanction that will oscillate between 150 and 300 euros.
As there are no sanctions for not having the books legalized, we may think that this procedure is merely bureaucratic, and that it will not have many consequences in the future, but it is not so. Failure to comply with this obligation can have negative consequences for companies. To give several examples, it can be used by creditors, together with other indications, to request the personal liability of the administrators for the debts of the company. It can also be taken into account to qualify as guilty an insolvency proceeding, which would also imply a direct liability of the administrators. Finally, in the event of a conflict between partners or with third parties, the legalization of books gives value to their content for evidentiary purposes before the courts.
Outsource your accounting with Vasalto
At Vasalto, we have been helping companies with a comprehensive service for more than 30 years. We offer both payroll outsourcing services and advice on your accounting. During these years we have worked hand in hand with a large number of clients who are leaders in their respective sectors, which gives us a great deal of experience in the sector.
We are present in several countries, with headquarters in Madrid, Barcelona, Porto and Bordeaux, and we have clients all over the world, as well as collaborators in more than fifty countries. Moreover, Vasalto is a purely technological company. We believe in putting technology at the service of talent. That is why we have a series of proprietary computer systems that allow us to manage more than 35,000 payrolls every month and automate most of our clients&#8217; accounting procedures.
Thanks to Valanza, Vasalto&#8217;s legal office, we also have a team of lawyers specialised in the areas of commercial, civil, labour and administrative law, among others. We count on them to provide the best legal assistance possible, always working towards comprehensive service.
If you are interested in learning more about payroll outsourcing, at Vasalto we will be happy to assist you. Contact us to get to know us and see how we can help your company.

What happens if I do not legalize the membership record book on time?

El libro de registro de socios es uno de los libros mercantiles obligatorios en una sociedad. Es el documento registral en el cual se pone de manifiesto la identidad de los diferentes socios propietarios de las participaciones dentro de una entidad mercantil. En este libro también deberá recogerse la evolución o transferencias de estas participaciones.&hellip; Seguir leyendo ¿Qué ocurre si no legalizo el libro de registro de socios a tiempo?

¿Qué ocurre si no legalizo el libro de registro de socios a tiempo? - Vasalto

¿Qué ocurre si no legalizo el libro de registro de socios a tiempo?

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Meetings are of great importance within the company. In them, decisions are discussed and taken, such as the modification of the bylaws or the approval of the accounts. Because of the importance of these meetings, it is necessary that what happens in them is reflected in the minutes. The compilation of these minutes is what gives rise to the minutes book. This is nothing else than an accounting book that gathers the information of all the meetings or meetings that take place between the partners of a mercantile entity during each fiscal year.
Everything that has relation with the obligations and rights in the mercantile scope is gathered in the Code of Commerce. Article 25 is the one that obliges the entrepreneur to record the activity of the business in the different accounting books. In addition, Article 26 is even more specific and speaks directly of the book of minutes. It establishes the obligation to document the agreements reached in the model minutes of the Shareholders&#8217; Meeting and the Board of Directors by means of the minutes book. This book must be previously legalized by the Mercantile Registrar to allow its use.
Once we are clear about what the minutes book is, we have to talk about the minutes. For a document to be considered as minutes, it is not enough to record what was said in the meetings of the board. A series of requirements must be met, both in a formal and substantive sense, in order for them to be considered minutes. Each of the minutes recorded in the book must contain the following data:
<ul>
<li>Date and place of the meeting.</li>
<li>Date and manner of the previous convocation, as well as the items appearing as the agenda. Given the importance of the meetings of the board, these must be called in advance. In addition, the items to be discussed at the meeting must be included in the notice of meeting.</li>
<li>Number of partners and representatives, share capital contributed by each one. In the case of a universal meeting, the date, place, name and signature of each attendee must also be added.</li>
<li>Summary of the matters discussed and debated during the meeting. It is necessary that the items on the agenda are discussed at this meeting, and that the opinions of the attendees are recorded in the minutes. These minutes can be used to later prove, if necessary, why certain decisions were made.</li>
<li>Agreements reached and voting results. In this last point it is necessary to specify the number of votes in favor of the agreements.</li>
<li>Approval of the minutes. This is a fundamental point to conclude all of the above. If the minutes have not been approved, there will be no confirmation of the agreements reached. Without the approval of the Meeting or Board, the signature of the Secretary of the same and the approval of the President, the decisions will not be effective.</li>
</ul>
In the specific case of the General Meeting, it must be approved by the Meeting itself at the end of the meeting or within fifteen days by the Chairman and two members, one representing the minority and the other the majority. The administrative bodies, in accordance with the provisions of the articles of association, may also approve the minutes at the end of the meeting.
Sometimes these minutes are certified by a notary who, in person, is in charge of verifying the whole protocol of the meeting and the identity of the attendees (including the Chairman and the Secretary) as well as transcribing the interventions and the agreements reached and even the objections. These notarized minutes will become part of the Minutes Book.
<h4>Legalization of the minute books</h4>
All the minutes of meetings of the collegiate bodies of the mercantile companies must be recorded in electronic format. This obligation also affects in case there is only one partner and one administrator. When it comes to legalize this record of the minutes, we have to take into account that, since 2013, this is done telematically. Therefore, the minute books must be presented for their legalization in this format, and within four months following the closing of the corporate year.
In each fiscal year, the minutes of the preceding fiscal year must be legalized. This book may be a single book for the minutes of all the company&#8217;s collegiate bodies, or also a book for each of the collegiate bodies. The opening and closing dates of the fiscal year must be recorded in each of these books.
The minute books, whether they include only one or several, must be legalized annually, as if they were accounting books. With regard to these minute books, it is also possible to legalize a minute detail book at any time during the fiscal year, if it is necessary to accredit a specific fact.
<h4>Outsource your accounting with Vasalto</h4>
At Vasalto, we have been helping companies with a comprehensive service for more than 30 years. We offer both payroll outsourcing services and advice on your accounting. During these years we have worked hand in hand with a large number of clients who are leaders in their respective sectors, which gives us a great deal of experience in the sector.
We are present in several countries, with headquarters in Madrid, Barcelona, Porto and Bordeaux, and we have clients all over the world, as well as collaborators in more than fifty countries. Moreover, Vasalto is a purely technological company. We believe in putting technology at the service of talent. That is why we have a series of proprietary computer systems that allow us to manage more than 35,000 payrolls every month and automate most of our clients&#8217; accounting procedures.
Thanks to Valanza, Vasalto&#8217;s legal office, we also have a team of lawyers specialised in the areas of commercial, civil, labour and administrative law, among others. We count on them to provide the best legal assistance possible, always working towards comprehensive service.
If you are interested in learning more about payroll outsourcing, at Vasalto we will be happy to assist you. Contact us to get to know us and see how we can help your company.

What data does the Minute Book have to collect?

Las juntas son reuniones que tienen una gran importancia dentro de la empresa. En ellas se discuten y se toman decisiones como la modificación de los estatutos o la aprobación de las cuentas. Por la importancia de estas reuniones, es necesario que lo que ocurre en ellas quede reflejado en un acta. La recopilación de&hellip; Seguir leyendo ¿Qué datos tiene que recoger el Libro de Actas?

¿Qué datos tiene que recoger el Libro de Actas? - Vasalto

¿Qué datos tiene que recoger el Libro de Actas?

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We are already in the corporate income tax campaign. From the beginning of this month until the 25th, companies have to file their tax forms corresponding to the fiscal year 2023. When filing this tax, there are a lot of variables to take into account. An example of these changing situations is the consideration as a patrimonial company, which we are going to deepen in this article to know the fiscal restrictions that these companies have.
A company is considered as a patrimonial company when more than half of the assets are constituted by securities or by elements not assigned to an economic activity. In order to make this assessment, the quarterly balance sheets of the fiscal year must be taken into account.
Asset-holding companies are usually set up to separate personal assets from business assets. This management has a series of advantages and disadvantages that it is convenient to know. The most important thing to know about these companies is that the Tax Agency exercises special vigilance with them. This is done to ensure that they are not mere instrumental companies, constituted solely for the purpose of evading tax obligations. In addition, it is also common for certain business groups to set up asset-holding companies whose purpose is to rent real estate to the companies of the group or to other companies.
The holding company is characterized by the fact that it does not engage mostly in economic or mercantile activities to place goods and services on the market. Its main purpose is the administration of a patrimony, normally formed by a series of securities or real estate. The figure of an asset-holding entity, regulated in the Corporate Income Tax Law, is of special relevance for those companies whose main activity consists of the management of movable or real estate assets, without carrying out an economic activity.
It is important to understand that one does not constitute an «asset-holding company» as such, but rather civil or mercantile companies that, in view of their activity and configuration of their assets, are considered as asset-holding companies. Below, we highlight the key points to be taken into account.
<h2>Types of asset-holding companies</h2>
<ul>
<li>Property holding companies. These types of companies only own real estate for family use and enjoyment.</li>
<li>Property rental property holding companies. They are dedicated to the rental of the real estate owned by the company. In order to be a holding company, it is not possible to have anyone hired with an employment contract to manage such rentals. If the company that owns and rents the real estate has, at least, one person hired full time, in this case we will be in front of a non patrimonial company of rent of real estate.</li>
<li>Asset-holding companies holding securities. They are dedicated only to holding securities and investing in the stock market, without having a business structure or employing workers.</li>
</ul>
<h2>Consideration as an asset-holding entity</h2>
When calculating last year&#8217;s Corporate Income Tax (IS), review the accounts and check whether the regime for asset-holding entities is applicable. This will be the case if more than 50% of your company&#8217;s assets are made up of securities or assets not assigned to an economic activity.
As we have seen before, to find out if this is the case, you have to calculate the average of the quarterly balance sheets of the fiscal year. It is not enough to look at the final balance sheet as of December 31. If we are talking about a company that is the controlling entity of a commercial group, we will have to take into account the average of the consolidated balance sheets, regardless of whether or not its group prepares consolidated accounts.
It is therefore advisable to analyze, at the end of each year, the quarterly balance sheets to find out whether or not the company has the status of an asset-holding entity. Calculate the average of the assets of these balance sheets and, if more than half is made up of assets not assigned to these economic activities, or by shares and participations, we can presume that we are in front of an entity of patrimonial regime.
Shares or participations are considered as assets assigned when they grant at least 5% of the capital and are held for at least one year for the purpose of directing and managing the participation, provided that the corresponding organization of material and personal means is available for this purpose.
<h2>Money and credit rights</h2>
It is important to know that, when calculating this average, neither the money nor the credit rights coming from the transfer of patrimonial elements assigned to economic activities or securities that have been carried out in the tax period or in the two previous tax periods will be computed. However, cash and credit rights deriving from the transfer of assets assigned to economic activities carried out in the same tax period or in the two previous periods, or deriving from the ordinary course of the economic activity, are considered as assigned items.
<h2>Loss of tax benefits or incentives</h2>
A company may be adversely affected if it is determined that it is necessary to apply the regime of patrimonial entity. With this regime several tax benefits and incentives are lost that are provided for entities that do engage in the development of economic activities. If the company is considered as a patrimonial entity, it will not be able to benefit from the following conditions:
<ul>
<li>The special regime for small companies (accelerated depreciation, equalization reserve&#8230;).</li>
<li>If it has been constituted recently, in the first two financial years with profits (the first four if it is a start-up) it will not be entitled to benefit from the reduced rate of 15%.</li>
<li>The regime for entities holding foreign securities (ETVE).</li>
<li>It will not be able to compensate the negative taxable bases when the entity is acquired with the intention, on the part of the buyer, to take advantage of such negative bases.</li>
<li>It will not be able to apply the exemption for the tacit capital gain originated in the transfer of the participations with respect to the tax periods in which the entity is considered as a patrimonial entity.</li>
<li>It will not be able to apply the full exemption to eliminate double taxation in the case of receipt of dividends or sale of shares, when certain requirements are met.</li>
<li>It will not be able to apply the reduced rate of 23% (as of January 1, 2023, a reduced tax rate of 23% will be introduced for entities whose net turnover for the immediately preceding tax period is less than 1 million euros).</li>
</ul>
<h2>Your taxes made easier with Vasalto</h2>
In summary, the companies themselves, which have economic activities as their objective, have greater tax benefits than those that are considered patrimonial entities. For all these reasons, it is necessary to carry out as detailed a review as possible of a company&#8217;s economic activities. At Vasalto, we have a team of tax experts that can help you determine whether your company is classified as a patrimonial entity. In this way, we guarantee proper compliance with tax obligations.
At Vasalto, we have been helping companies with a comprehensive service for more than 30 years. We offer both payroll outsourcing services and accounting advice. During these years we have worked hand in hand with a large number of clients who are leaders in their respective sectors, which gives us a great deal of experience in the sector.
We are present in several countries, with headquarters in Madrid, Barcelona, Porto and Bordeaux, and we have clients all over the world, as well as collaborators in more than fifty countries. Moreover, Vasalto is a purely technological company. We believe in putting technology at the service of talent. That is why we have a series of proprietary computer systems that allow us to manage more than 35,000 payrolls every month and automate most of our clients&#8217; accounting procedures.
Thanks to Valanza, Vasalto&#8217;s legal office, we also have a team of lawyers specialised in the areas of commercial, civil, labour and administrative law, among others. We count on them to provide the best legal assistance possible, always working towards comprehensive service.
If you are interested in learning more about payroll outsourcing, at Vasalto we will be happy to assist you. Contact us to get to know us and see how we can help your company.

Property companies and corporate income tax

Ya estamos dentro de la campaña del Impuesto sobre Sociedades. Desde el inicio de este mes y hasta el día 25, las empresas tienen que presentar a Hacienda sus modelos correspondientes al ejercicio económico de 2023. A la hora de presentar este impuesto, hay una gran cantidad de variables a tener en cuenta. Un ejemplo&hellip; Seguir leyendo Las sociedades patrimoniales y el Impuesto sobre Sociedades

Las sociedades patrimoniales y el Impuesto sobre Sociedades - Vasalto

Las sociedades patrimoniales y el Impuesto sobre Sociedades

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Although the income tax campaign is still in its last throes, at Vasalto we are already thinking about what is to come. Next July is the deadline to pay the Inheritance Tax. Therefore, we wanted to dedicate a series of articles in our blog to better explain this tax. Next we are going to detail the most basic and important aspects of the IS: its characteristics, who has to pay it, how it is calculated and which are the models for its presentation.
<h4>Characteristics of the Corporate Income Tax</h4>
Corporate income tax is the tax levied on the income of companies and other legal entities located in Spain. To better understand the nature of the tax, it is best to look at its characteristics. We will classify it as a personal, direct and periodic tax.
It is personal because it takes into account personal circumstances. The taxable event, which is what is taxed, is the income obtained by legal entities, mainly commercial companies. There are also other types of taxes that are not related to these personal circumstances. An example of a real tax is the Real Estate Tax (IBI).
It is a direct tax because it is levied on the wealth itself. In this same classification we can find taxes such as Personal Income Tax (IRPF), which is levied on the acquisition of wealth by an individual. Other taxes such as VAT (Value Added Tax) tax the use of this wealth.
Finally, it is periodic because it is a tax liability that is generated over time. As the taxable event is prolonged in time, this tax is settled after the end of this period. The tax period for this tax is the fiscal year. This means that this year is taxed on the income obtained in the year 2023. On the other side we find the instantaneous taxes. These place their taxable event in specific acts. The Inheritance and Gift Tax can be an example of an instantaneous tax. Inheriting or donating are concrete acts, they are not prolonged in time, that is why their liquidation is instantaneous.
<h4>The taxpayers in the Corporate Income Tax</h4>
A taxpayer is any person, whether an individual or a legal entity, who is obliged to file a tax return. In the specific case of Corporate Income Tax, taxpayers will always be legal entities. In Spain there are many types of legal entities, but those that are liable for this tax are the following:
<ul>
<li>Commercial companies: this is considered to be any legal entity that is created to initiate a commercial activity for profit. This classification includes Temporary Joint Ventures (UTE), as well as corporations and limited liability companies.</li>
<li>Civil Companies that have a mercantile nature</li>
<li>Investmentfunds, pension funds, cooperatives</li>
<li>Agricultural companies and economic interest groupings (EIGs).</li>
<li>Associations and foundations (NGOs, professional associations).</li>
</ul>
These companies are obliged to file the tax, even though no income has been obtained during the year. Nor does it exempt from filing in situations such as bankruptcy or liquidation of the company.
<h4>How the Corporate Income Tax is calculated</h4>
The first thing we have to know when calculating the Corporate Income Tax is the tax rate that corresponds to each company. There are six different percentages, which are going to be applied according to a series of circumstances:
<ul>
<li>25%. This is the general rate. If the company does not fit in any of the other assumptions, this rate is applied.</li>
</ul>
<ul>
<li>23%. This reduced rate is one of the novelties of this year for the Corporate Income Tax. It will be applied to entities with a turnover not exceeding one million euros in the previous tax period. The patrimonial entities are not eligible for this reduction.</li>
</ul>
<ul>
<li>20%. It is applied to those cooperatives that are tax protected.</li>
</ul>
<ul>
<li>15%. This reduction is established for newly created entities. They can benefit from this reduction in the first positive taxable base and the immediately following one. If the period following the first positive base is not positive, the reduction will not be effective.</li>
</ul>
<ul>
<li>10%. This tax is for legal entities that are not for profit, such as NGOs.</li>
</ul>
<ul>
<li>1%. In this last case are the investment companies of variable capital regulated by Law 35/2003.</li>
</ul>
Once the corresponding tax rate is known, it is time to calculate the tax. Now we have to know the accounting result, which is nothing more than the result of subtracting the expenses from the income of a company.
A series of reductions can be applied to this accounting result to obtain the taxable base. These reductions, such as the offsetting of tax losses, are specified in Chapter V of the Corporate Income Tax Law (LIS).
Once the relevant reductions have been made, the gross tax liability is calculated by applying the tax rate.
<h4>Corporate income tax filing forms</h4>
The most important forms relating to Corporate Income Tax are as follows:
<ul>
<li>Form 200: This is the form used by most companies. They are those whose fiscal year coincides with the calendar year. These entities must file this form between July 1 and July 25 of the year following the year in which the tax period ends.</li>
</ul>
<ul>
<li>Form 202: This is the form used for payments on account, which are amounts that are advanced before the payment of a debt. This form is to be filed in the first 20 calendar days of the months of April, October and December.</li>
</ul>
<ul>
<li>Finally, we have Form 220. This form is the one established for entities under the tax consolidation regime. This regime is regulated by the Corporate Income Tax Law, specifically in its chapter VI, which includes articles 55 to 75. The filing period for this form is, as a general rule, the first 25 calendar days of July of the year following the end of the tax period.</li>
</ul>
<h4>Your taxes made easier with Vasalto</h4>
At Vasalto, we have been helping companies with a comprehensive service for more than 30 years. We offer both payroll outsourcing services and accounting advice. During these years we have worked hand in hand with a large number of clients who are leaders in their respective sectors, which gives us a great deal of experience in the sector.
We are present in several countries, with headquarters in Madrid, Barcelona, Porto and Bordeaux, and we have clients all over the world, as well as collaborators in more than fifty countries. Moreover, Vasalto is a purely technological company. We believe in putting technology at the service of talent. That is why we have a series of proprietary computer systems that allow us to manage more than 35,000 payrolls every month and automate most of our clients&#8217; accounting procedures.
Thanks to Valanza, Vasalto&#8217;s legal firm, we also have a team of lawyers specialized in the areas of commercial, civil, labor and administrative law, among others. We count on them to provide the best legal assistance possible, always working towards comprehensive service.
If you are interested in learning more about payroll outsourcing, at Vasalto we will be happy to assist you. Contact us to get to know us and see how we can help your company.

Learn about Corporate Income Tax in depth

Aunque la campaña de la renta esté aún dando sus últimos coletazos, en Vasalto ya estamos pensando en lo que viene. El próximo mes de julio comienza el plazo para poder liquidar el Impuesto sobre Sucesiones. Por eso, hemos querido dedicar una serie de artículos en nuestro blog para explicar mejor este impuesto. A continuación&hellip; Seguir leyendo Conoce a fondo el Impuesto sobre Sociedades

Conoce a fondo el Impuesto sobre Sociedades - Vasalto

Conoce a fondo el Impuesto sobre Sociedades

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For this fiscal year 2023, the main changes in the Corporate Income Tax (IS) are focused on adopting measures for emerging companies, micro-enterprises and for those that undertake investments in energy saving. Below, we are going to see the main novelties for the liquidation of this fiscal year.
Regulatory novelties with incidence on the tax return forms
1. Freedom of amortization of installations using energy from renewable sources.
Firstly, the possibility of freely amortizing investments made in installations for self-consumption of electricity is introduced. This change can be applied in tax periods beginning or ending in 2023. This modification also includes investments in installations for thermal use for own consumption, provided that they use energy from renewable sources and replace installations that use energy from non-renewable fossil fuel sources.
The amount of the investment that may benefit from the free depreciation regime will be 500,000 euros. For the application of this case it is necessary that, during the 24 months following the date of commencement of the tax period, the total average workforce of the entity is maintained with respect to the average workforce of the previous twelve months. In addition, taxpayers must have the necessary documentation to prove this investment.
2. Accelerated depreciation of certain vehicles
For tax periods starting from 2023 onwards, an accelerated depreciation scenario is introduced for investments in certain new vehicles. These vehicles must be used for economic activities and must enter into operation in the tax periods beginning in 2023, 2024 and 2025. The amendment allows them to be depreciated based on the result of multiplying by 2 the maximum straight-line depreciation coefficient provided for in the officially approved depreciation tables.
With effect from June 30, 2023, this accelerated depreciation scenario is extended to investments in new electric vehicle recharging infrastructures, of normal or high power.
3. Reduced tax rate
Also from 2023, a new reduced tax rate of 23 percent is introduced. Entities whose net turnover for the immediately preceding tax period is less than 1 million euros are eligible for this reduction. In order to know how to calculate the net amount of the turnover we have to go to paragraphs 2 and 3 of article 101 of the LIS.
4. Deduction for investments in film productions
In order to encourage investment in culture, it has been decided to increase the limits of the deduction for investments in films and series, whether Spanish or foreign. The maximum amount of the deduction is increased to 20 million euros for films. In the case of series, the deduction is determined per episode, with a limit of 10 million euros for each episode produced.
5. Income not subject to withholding tax
Another of the most important novelties is that a series of withholding obligations are eliminated. From this fiscal year, there will be no obligation to withhold or pay on account with respect to income derived from the following events:
&#8211; The reimbursement or transfer of participations or shares issued by listed funds or by listed open-end investment companies regulated by article 79 of the Regulations for the development of Law 35/2003 or collective investment institutions incorporated abroad analogous to those mentioned above.
&#8211; The interest received by the securities companies as a consequence of credits or loans granted in relation to purchase or sale operations of securities referred to in article 126.b) of Law 6/2023, of March 17, of the Securities Markets and Investment Services.
&#8211; Interest received by investment services companies in respect of active loan or deposit transactions referred to in article 70.1 of Royal Decree 813/2023, of November 8, on the legal regime of investment services companies and other entities providing investment services.
&#8211; Interest received by central counterparties or by entities that are members of a central counterparty.
&#8211; The consideration for the guarantees constituted in application of the provisions of Article 97.2 of the Securities Markets and Investment Services Law of Articles 41 and 42 of Regulation (EU) number 648/2012 of the European Parliament and of the Council of 4 July 2012.
&#8211; The interest received by the managing entities of the payment systems recognized in accordance with Law 41/1999, of November 12, on payment and securities settlement systems, as well as by the entities that have the status of participants in these systems, from guarantees constituted in application of the provisions of letter d) of article 2 of said law, or from the accounts exclusively affected to the performance of the operations inherent to the corresponding payment system.
6. Emerging companies («Startup»)
A series of tax incentives will be applied for the taxpayers of Corporate Income Tax and Non-Resident Income Tax who obtain income through a permanent establishment located in Spanish territory and who have the status of an emerging company as provided therein:
&#8211; They will be taxed at the rate of 15% in the first tax period in which, having the status of emerging company, the taxable income is positive and in the following three periods, provided that they maintain such status.
&#8211; They will be able to request to the State Tax Administration, at the moment of the presentation of the self-assessment, the postponement of the payment of the tax debt corresponding to the first two tax periods in which the taxable base of the Tax is positive.
&#8211; They will not have the obligation to make the installment payments regulated in articles 40 of the LIS and 23.1 of the TRLIRNR that they must make on account of the liquidation corresponding to the tax period immediately following each one of the tax periods in which the deferral referred to in the previous point has been requested, as long as in them the condition of emerging company is maintained.
7. Temporary levies: energy and credit institutions/financial establishments.
Finally, we are going to talk about the temporary energy tax and the tax on credit institutions and financial credit establishments. Both will have this temporary character during the years 2023 and 2024.
The temporary energy tax must be paid by the persons or entities that have the consideration of main operator in the energy sectors, according to the Resolution of December 10, 2020 of the National Commission of Markets and Competition.
The temporary levy of credit institutions and financial credit institutions must be paid by institutions operating in Spanish territory and whose income from interest and commissions corresponding to the fiscal year 2019 is equal to or higher than 800 million euros.
Both levies are configured as a non-tax public property benefit, which are not considered as tax-deductible expenses for the purpose of determining the taxable base of the Corporate Income Tax.
Your taxes made easier with Vasalto
At Vasalto, we have been helping companies with a comprehensive service for more than 30 years. We offer both payroll outsourcing services and accounting advice. During these years we have worked hand in hand with a large number of clients who are leaders in their respective sectors, which gives us a great deal of experience in the sector.
We are present in several countries, with headquarters in Madrid, Barcelona, Porto and Bordeaux, and we have clients all over the world, as well as collaborators in more than fifty countries. Moreover, Vasalto is a purely technological company. We believe in putting technology at the service of talent. That is why we have a series of proprietary computer systems that allow us to manage more than 35,000 payrolls every month and automate most of our clients&#8217; accounting procedures.
Thanks to Valanza, Vasalto&#8217;s legal office, we also have a team of lawyers specialised in the areas of commercial, civil, labour and administrative law, among others. We count on them to provide the best legal assistance possible, always working towards comprehensive service.
If you are interested in learning more about payroll outsourcing, at Vasalto we will be happy to assist you. Contact us to get to know us and see how we can help your company.

Corporate Income Tax News 2023

Para este ejercicio 2023, las principales modificaciones en el Impuesto sobre Sociedades (IS) se centran en adoptar medidas para las empresas emergentes, las microempresas y para aquéllas que acometen inversiones en ahorro energético. A continuación, vamos a ver las principales novedades para la liquidación de este ejercicio. 1. Libertad de amortización de instalaciones que utilicen&hellip; Seguir leyendo Novedades en el Impuesto sobre Sociedades 2023

Novedades en el Impuesto sobre Sociedades 2023 - Vasalto

Novedades en el Impuesto sobre Sociedades 2023

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One of the advantages of online payroll management is the electronic payroll. This is nothing more than a digital document in which all the information regarding the salary of each employee is shown. Its function is the same as the paper payroll, but reducing waiting times and the use of paper in the office.
Payroll is the internal communication tool par excellence. It is the most direct way for an employer to communicate with its employees. It is the most efficient way to remember milestones such as a salary increase, a promotion or a reward for goals achieved. By digitizing this process, we can streamline this process and make it easier for the employee. Digital payroll helps to make the most of this important communication tool. With a more modern payroll model, the employee can better understand the parts that make up his or her salary, as well as the withholdings and taxes that make up the difference between gross and net.
Despite the fact that there is no mandatory electronic payroll, many companies have switched to this model because of the advantages it has. Moreover, since 2016, this option is as legally valid as the paper one. This Supreme Court decision is a major step forward for the digitization of companies. Paper payrolls are destined to be replaced by digital. This format is more aggressive with the environment, forces employees to allocate a physical place to store them and slows down the processes of search and transmission of information. By choosing to deliver the payroll digitally, whoever wishes to do so will be able to reduce the amount of paper used in the company, being more respectful with our planet, as well as speeding up the procedures and a series of advantages that we are going to know below.
<h3>Benefits of digitizing payrolls</h3>
Accessibility to information. 
The Internet allows us to access any information no matter where we are. Thanks to the cloud we can access our documents from any device and anywhere. Saving payroll documents in an online database gives us access to them at any time. As long as the employee has a connection, he or she can check the status of his or her salary, any changes and the status of his or her payroll.
This information is not only more accessible to the employee. Companies also gain in speed when it comes to accessing their employees&#8217; paychecks. This can be of great help when reviewing whether errors have been made in the payment or reporting on the productivity of an employee.
Reduces the need for storage. 
As we have already indicated, digital payrolls are stored in the cloud. These servers that allow us to store data save us both physical and digital space. On the one hand, having the payroll in the cloud makes it unnecessary to store them on our own computer. Sometimes company computers are full of personal information. This can be a problem when it comes to installing necessary updates for the workflow and can slow down the devices, decreasing productivity. With cloud storage, we avoid cluttering local hard drives.
On the other hand, we also save physical space. Storing payrolls on paper can become more problematic than it seems at first glance. The physical one forces us to have a specific place in which to store things. In addition, as we will see below, we are more likely to lose paper than digital documents. The cloud prevents us from having a tower of papers in which searching for a specific piece of information is practically impossible. With this, in addition, we gain in cleanliness and organization within the work and personal environment.
It makes losses more difficult. 
We all have the experience of having lost an important piece of paper. The rush of everyday life leads us to forget things that we are going to need later. This is something we avoid with electronic payroll. As they are automatically stored in the same place, employees will be able to consult them whenever they want, without having to worry about the drawer in which the paper was stored some time ago. Generating payrolls in electronic format is the best way to gain in convenience.
It optimizes the work in the Human Resources Department. 
Manual preparation of payrolls consumes an unnecessary amount of time. Filling in each item by checking other documents is a mechanical and repetitive task, which reduces employee satisfaction and significantly increases the risk of making mistakes.
Constant repetition of processes can be time-consuming and sap concentration, which can result in errors. Being in a hurry to complete tasks or losing focus due to repetition are the main causes of these failures, which in turn translate into problems for the company.
That is why payroll automation is essential to have an efficient management of the company. Payroll automation is known as a set of processes related to payroll management that are performed by software. With these software programs, payroll management becomes an easier task. The time savings and reduced workload achieved by automation is the main advantage of this method, but not the only one.
Improved security of personal data. 
The security of personal data is one of the most discussed topics since the advent of the Internet in our lives. We all want to be protected against possible attacks. For this reason, the software that manages digital payrolls needs to be updated in terms of security. Paperwork can get lost. In addition, when it comes to disposing of documents containing such sensitive information, we have to take care to destroy them properly so that the information is not recoverable by a third party.
These problems do not exist with digital payrolls. With the latest cybersecurity systems, it is very difficult for a third party to gain access to our data. When we work with digital files protected by encryption and algorithms, we are giving an extra layer of security to our data.
<h3>Digitize your payroll with Vasalto</h3>
At Vasalto, we have been working in payroll outsourcing for more than 30 years. During these years we have worked hand in hand with a large number of clients who are leaders in their respective sectors, which gives us a great deal of experience in the sector.
We are present in several countries, with headquarters in Madrid, Barcelona, Porto and Bordeaux, and we have clients all over the world, as well as collaborators in more than fifty countries. In addition, Vasalto is a purely technological company, which is why we have a series of proprietary computer systems that allow us to manage more than 35,000 payrolls every month. In addition, we also have the best legal and accounting advice to offer our clients the best possible service.
If you are interested in learning more about payroll outsourcing, at Vasalto we will be happy to help you. Contact us to get to know us and see how we can help your company.

your payroll, 100% digitalized

Una de las ventajas de la gestión de nóminas online es la nómina electrónica. Esta no es otra cosa que un documento digital en el cual se muestra toda la información referente al salario de cada empleado. Su función es la misma que la nómina en papel, pero reduciendo los tiempos de espera y el&hellip; Seguir leyendo Tu nómina 100% digital

Tu nómina 100% digital - Vasalto

Tu nómina 100% digital

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A recent Alight report ranks Spain 15th in terms of payroll complexity. This complexity has reduced in recent years, as we were ranked 4th in 2021. However, the report still shows that the payroll process is a complex task to perform. Now let&#8217;s take a look at the most common payroll errors and how to fix them.
Incomplete or disorganised records
Many of the problems when processing payroll come from employee records. Having incomplete, out-of-date or incomplete employee records can lead to errors due to misclassification of employees, incorrect pay calculation or poor overtime updating.
To prevent these problems from becoming a problem in the future, a well-organised system is necessary to keep this data up to date. Constantly updating this database will help us to avoid making mistakes in payroll processes. In order to do this, it is necessary to have the cooperation of the employees. Helping to update the data or informing them if they detect a mistake is a way of preventing these errors.
Payroll miscalculation and missing key deadlines
Payroll calculations require a lot of data to be taken into account. As a result, manual calculations can lead to errors at some point. Repetitive and mechanical processes are boring and can lead to a loss of concentration. This loss of concentration often leads to errors in accounting for a piece of information, or failure to enter it where it should go, resulting in an incorrect payment, either overpaying or underpaying.
This error has an easy solution: automation. If we have software that does the mechanical processes for us, we eliminate this type of error. All you have to worry about is indicating where each piece of information has to be extracted from, and the programme will apply the procedures automatically. This also saves time, as the hours saved can be reinvested in other tasks.
Failure to declare all forms of taxable remuneration
Employers are responsible for declaring all forms of taxable remuneration of employees. This means that payslips must identify not only salary, but also other forms of remuneration such as bonuses or stock options that may accrue to the employee. Failure to do so can lead to legal sanctions and damage to employee morale. To avoid this being a problem, it is important to be aware of taxable profits and to ensure that forms of remuneration are correctly declared.
Not keeping up to date with legislation
Employment and financial legislation is constantly changing and being revised. This instability forces us to be aware of all changes that affect the payroll process. Failure to do so can lead to miscalculations or not being able to provide accurate information to employees.
In addition, payrolls contain personal data, which is also subject to strict legislation. To prevent this data from ending up in the hands of unwanted third parties, data protection policies are also frequently updated. Keeping up to date with these changes is the only way to avoid making mistakes.
Outsourcing payroll saves work and hassle
Payroll outsourcing is the most direct solution to all these problems. If we outsource these processes, we take a lot of work off the shoulders of HR departments. Leaving your employees&#8217; payrolls in expert hands is a way of making sure that we have everything in order, eliminating worries about filing deadlines, legal modifications and other problems that may arise.
At Vasalto, we have been working in payroll outsourcing for more than 30 years. This means that we have extensive experience in the sector, in addition to a series of our own computer systems that allow us to manage more than 40,000 payrolls every month. In addition, we also have the best legal and accounting advice, to offer our clients the best possible service.
If you are interested in finding out more about payroll outsourcing, at Vasalto we will be delighted to help you. Contact us to get to know us and see how we can help your company.

Common payroll errors

Un reciente informe de Alight sitúa a España en el 15º lugar en cuanto a la complejidad de la nómina. Esta complejidad se ha reducido en los últimos años, pues en 2021 nos encontrábamos en el 4º puesto. Esta bajada en el ranking es una buena noticia para todas las empresas, pues significa que se&hellip; Seguir leyendo Errores comunes en la nómina

Errores comunes en la nómina - Vasalto

Errores comunes en la nómina

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the outsourcing of payroll is a way of reducing the workload in Human Resources departments. It consists of contracting an external company, which will be in charge of managing all the processes related to the payroll of our employees.
Outsourcing your company&#8217;s payroll to an external provider has a series of benefits that can make us consider this option. With outsourcing we manage to reduce payroll costs, as it will not be necessary to have a specialised payroll person on staff. We also work with the peace of mind of knowing that the payment of our employees is in expert hands. This means knowing that we will always be up to date with current legislation and the protection of our staff&#8217;s personal data.
Having seen some of the advantages of outsourcing payroll, it&#8217;s time to take action. Hiring this service requires a series of steps that we are going to detail in this article. These steps will help us to choose the best option for our business, in addition to being able to visualise how the company is adapting to the new situation.
<h4>Analyse your company&#8217;s situation</h4>
The first thing to consider is how payroll is being done in your company. You need to know which departments do which tasks in relation to the payment of employees. The best way to do this is to make a list of tasks. In this list we have to write down who is in charge of which tasks and how much time they spend on them. In this way, we will be able to select the tasks to be outsourced.
Our recommendation is that you look to outsource the most time-consuming processes first. Eliminating this workload will free up a lot of time for our employees, who will be able to focus on their most important tasks. This move will increase employee satisfaction and reduce payroll costs at the same time.
To make the return on investment more visible, it is best to set goals. Setting short-, medium- and long-term goals will help you measure the benefits of outsourcing realistically. It is also important to periodically review these objectives, especially those set for the long term. Depending on the services contracted, the results will be different, so it is necessary to consider whether it is worth investing in contracting more services from our provider.
<h4>Choosing the right payroll provider</h4>
Once we know which tasks we want to outsource, it is time to analyse the market. There is a wide variety of outsourcing companies out there, but not all of them are going to be a good fit for your needs. If we are talking about a small company, it doesn&#8217;t make much sense to go to a provider that specialises in large companies.
Ideally, you should take your time with this process. It is always said that haste is a bad advisor. In such an important decision, it is best to weigh several options. Although the first option may seem appropriate, it is advisable not to stick with it. The more we analyse the options of back office companies with which to contract these services, the more likely it is that we will find a better option for our business.
To this end, we have a series of tips on the most important issues to take into account:
Constant updating and ability to adapt to changes.
Ability to produce reports to facilitate decision making.
Ability to adapt to our IT systems.
Agility in transmitting information, changes and data between companies.
This last point is perhaps the most important of all. Later on, we will talk about the importance of communication between our IT systems. Well, if it is necessary to pay attention that machines understand each other, it is much more important that people do. Smooth and constant communication with our payroll provider will make everyone&#8217;s work easier. Being able to discuss any unforeseen events, problems or payroll mismatches quickly and conveniently will make it easier for us to solve the problem. On the other hand, if communication is not fluid, that small problem can snowball into a major crisis for our business.
<h4>Integrating IT systems</h4>
Once the decision has been made as to who to contract these services with, we move on to the integration process. In this process we will work hand in hand with our new payroll provider to make our IT systems compatible.
This process may not seem very relevant, but we will gradually see the results of good communication between the two systems. You need to make sure that the way both companies work is coordinated. In this way, the flow of work and information will be more efficient, obtaining better results. It is essential that the data we send is compatible with the software used by the contracted company. This ensures that we will not have problems later on.
<h4>Reporting</h4>
The payroll provider must deliver a series of reports on a regular basis. In these reports we will be able to see data on the expenditure of the personnel in the company, the evolution of the payroll over time or the complements in which more money is invested. In this way, we will have real and detailed information about the company&#8217;s expenses, which will allow us to make quick decisions in case we need them.
It is advisable to compare these reports with the objectives set at the beginning of the process. Once we receive information on how the outsourcing is going, we will be able to compare it with our ideas. This can be the perfect moment to analyse how we are progressing, how close or far we are from achieving these goals, adjust long-term objectives and set new objectives for a longer term.
<h4>Calculating ROI</h4>
Finally, we will need to go back to the analysis we did at the beginning of the process. With this information in hand, we will need to calculate the return on investment (ROI). We can see how the payroll process was solved before, which tasks we have outsourced and how this outsourcing has impacted us.
We also recommend people-focused ROI. Although numbers are fundamental to the performance of our business, it is important to keep in mind that we are working with people. At this point, we will have to look at several factors in addition to money. It is also important, for example, to see how the time that our staff has gained for their tasks has been spent. It will be necessary to take into account whether the satisfaction of our employees has improved in relation to the payroll, whether they have had any problems with the supplier or which aspects they feel can be improved.
Once we have the ROI information, both monetary and personal, it is time to draw a conclusion about outsourcing. Here it will be time to answer a series of questions: Are we happy with the current situation? Do our employees think that we have improved or deteriorated in this respect? What can we improve to make payroll processing even more efficient? What objectives have we met? With these answers we will draw a conclusion, either positive or negative, about this outsourcing.
<h4>Outsource payroll easily with Vasalto</h4>
At Vasalto, we have been working in payroll outsourcing for more than 30 years. This means that we have extensive experience in the sector, in addition to a series of our own computer systems that allow us to manage more than 40,000 payrolls every month. In addition, we also have the best legal and accounting advice in order to offer our clients the best possible service.
At Vasalto, we believe that communication between people is fundamental. We make technology available to people, never the other way around. We work with technological automation solutions so that IT takes as much work off our hands as possible. This way, we have more time to dedicate to our customers.
If you are interested in finding out more about payroll outsourcing, at Vasalto we will be happy to help you. Contact us to get to know us and see how we can help your company.

Outsourcing payroll step by step

La externalización de las nóminas es una forma de disminuir la carga de trabajo en los departamentos de Recursos Humanos. Consiste en contratar a una empresa externa, la cual se va a encargar de gestionar todos los procesos relacionados con las nóminas de los empleados. Contratar las nóminas de la empresa con un proveedor externo&hellip; Seguir leyendo Externalizar la nómina paso a paso

Externalizar la nómina paso a paso - Vasalto

Externalizar la nómina paso a paso

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According to a recent study, Spain is among the 15 countries with the most complex payroll processes. This is significantly better than in 2021, when we were ranked fourth. However, it is still an indicator that the payroll process is not straightforward.
In the management of a company&#8217;s payroll, there are a number of economic and fiscal processes to which a lot of attention needs to be paid. Submitting a payroll manually means going through each of the required data. Entering the incidences of each employee, calculating their IRPF and payroll or adding social security deductions are repetitive and mechanical, but at the same time complex tasks.
These processes, as mentioned above, can be of two types: economic and fiscal. Within the economic processes we can find the actual calculation of the payroll according to the hours worked or the extraordinary bonuses. In the fiscal processes we have matters such as personal income tax deductions or calculations of salary in kind.
Constant repetition of processes can be time-consuming and can undermine concentration, which can lead to errors. Rushing to complete tasks or losing focus due to repetition are the main causes of these failures, which in turn translate into problems for the company.
That is why payroll automation is essential for efficient business management. Payroll automation is a set of processes related to payroll management that are carried out by software. With such software, payroll management becomes an easier task. The time savings and reduced workload achieved by automation is the main, but not the only, advantage of this method.
Benefits of payroll automation
Implementing technology to perform the mechanical calculations and processes is a way to save time for the most essential tasks. It is also a way to save money by maximising time efficiency. These are the easiest benefits to see when we talk about implementing automation in our payroll management. However, they are not the only ones. Below, we will detail the main benefits of computerising your business payroll.
Work without errors and always on time. Humans make mistakes, and these tend to increase when we are performing mechanical tasks that cause us to lose concentration. Machines, on the other hand, are not distracted. By automating repetitive calculations and processes, we ensure that they will be correct, as well as getting them done in much less time.
It also means better time planning, which helps us to always deliver on time. Computer time estimates are more accurate than human time estimates. This can allow us to work in the knowledge that payrolls will always be on time. By eliminating delays caused by human error, we can deliver payroll to our employees on time and on budget.
Keep up to date with legislation. The legal system is constantly changing and being revised. This means that legislators are constantly updating regulations on matters such as the form of payment, the taxes that must be withheld from workers or the way in which information about their salary is sent to an employee.
Keeping up to date with all the legislative changes is an almost impossible task, even more so if we do not have an in-depth knowledge of the law. That is why having an automated payroll helps us to comply with the different laws. Automation software is always up to date with current legislation. Payroll automation is a way to comply with labour and tax regulations, while avoiding possible fines or penalties that may result from non-compliance.
Increase transparency and employee autonomy. Having specialised payroll software makes it easier to access and modify data. Thanks to these programmes, employees can consult any information they need without having to go through the Human Resources department. This increases transparency within the company, as data that was previously difficult to access is now available to our employees.
It also increases the employee&#8217;s autonomy when it comes to modifying this data. If an employee wants to change any information, such as their residence or the account into which they want their salary to be paid, they will be able to do so whenever they wish. Having access to this programme avoids having to ask someone else to modify it for them. Thus, the data will always be up to date, and at the same time we reduce the workload for Human Resources, which will not have to be aware of this type of updates.
Improve employee satisfaction. Digitising payroll can undoubtedly increase employee satisfaction. It is very common for delays in receiving payroll, payroll errors or lack of transparency to undermine the level of employee satisfaction.
Having an automated and digitised payroll means putting an end to these problems, reducing dissatisfaction with these issues and thus increasing employee productivity.
Outsourcing payroll is the best form of automation
As we say, automation is possible thanks to specific programmes. These softwares allow us to optimise many of the procedures that are necessary to present the payroll to our employees. But having an automation programme is not enough to manage a company&#8217;s payroll. It is also necessary to have staff who know the process well and who manage this programme well. There is no point in having the tool if we do not have the necessary knowledge to make it work properly.
That is why payroll outsourcing is often the most efficient option. Back Office companies offer their services to other companies to manage all these processes. As they are specialised in it, they have the best software on the market, as well as a staff with expertise in everything related to payroll. This allows them to manage a large number of payrolls per month, always complying with deadlines and legislation.
One of the most important factors when automating payroll is the communication between the supplier&#8217;s and client&#8217;s software. For these softwares to work correctly and to be able to see the positive results of automation, the data must be compatible. If two systems, no matter how good they are, do not understand each other, the outsourcing will fail. That is why it is important to have a software optimisation process.
As with software, communication between the supplier and the client must also be fluid and constant. For outsourcing to be successful over time, it is necessary for both parties to be in contact. Having the facility to communicate any problems or doubts about the payroll is just as important, if not more important, than compatibility between the systems.
At Vasalto, we have been working in payroll outsourcing for more than 30 years. During these years, we have worked hand in hand with a large number of clients who are leaders in their respective sectors, which gives us a great deal of experience in the sector.
We are present in several countries, with headquarters in Madrid, Barcelona, Porto and Bordeaux, and we have clients all over the world, as well as collaborators in more than fifty countries. Furthermore, Vasalto is a purely technological company, which is why we have a series of our own computer systems that allow us to manage more than 40,000 payrolls every month. In addition, we also have the best legal and accounting advice, in order to offer our clients the best possible service.
If you are interested in finding out more about payroll outsourcing, at Vasalto we will be delighted to help you. Contact us to get to know us and see how we can help your company.

Payroll Automation and Outsourcing

Según un reciente estudio, España se encuentra entre los 15 países con mayor complejidad en los procesos de nómina. Este dato es significativamente mejor al de 2021, en el cual se nos situaba en el cuarto puesto. Sin embargo, sigue siendo un indicador de que el proceso de nómina no es algo sencillo. En la&hellip; Seguir leyendo Automatización y Externalización de Nómina

Automatización y Externalización de Nómina - Vasalto

Automatización y Externalización de Nómina

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Payroll management is one of the most difficult and delicate processes in a company Spain is one of the countries where payroll management is the most difficult. However, many companies still prefer to manage their workers&#8217; salaries themselves. In this article, we will look at the advantages of outsourcing payroll.
<h4>Cost reduction</h4>
Managing payroll can be costly for many companies. The need to have staff specialised in these processes, in addition to contracting the technologies needed for payroll is a high cost that many companies cannot afford. With outsourcing, companies forget about these costs. Outsourcing to a back office company reduces costs, allowing the employer to invest in what is really important for the business.
<h4>Putting yourself in expert hands</h4>
Having an external company manage your company&#8217;s payroll means putting yourself in expert hands. These companies specialise in these administrative processes. As a result, they can guarantee that payrolls will reach employees in a timely manner. In addition, these companies will always be up to date with the different regulations related to payroll.
<h4>Employee information</h4>
Payroll outsourcing helps employees to be more aware of their salary status. One of the most complex pieces of information to convey in payroll is withholdings. While we all understand the difference between net and gross, it is more complex to know what taxes are withheld. Payroll outsourcing companies often offer modernised payroll templates, in which the withholdings are clearly explained to our employees.
<h4>Control of personal data</h4>
Another advantage of outsourcing is that the employee will have more control over his or her data. Having the facility to change our personal data when necessary, such as moving house, changing the account where we want to receive payments, is easier with outsourcing. Instead of having to go through the Human Resources department, the employee can make the changes himself, which simplifies this process and increases the productivity of this department. In addition, these companies have very strict data protection legislation, so we also ensure that personal data is handled correctly.
<h4>Using payroll as a communication tool</h4>
Payroll is the main form of communication between the employee and the employer. With a smart payroll, we can use this tool to our advantage. Remembering facts such as a pay rise, a promotion or a reward for goals achieved is easier with a modern payroll model, which allows us to emphasise these facts.
At Vasalto, we have been working in payroll outsourcing for more than 30 years. This means that we have extensive experience in the sector, in addition to a series of our own computer systems that allow us to manage more than 40,000 payrolls every month. In addition, we also have the best legal and accounting advice, to offer our clients the best possible service.
If you are interested in finding out more about payroll outsourcing, at Vasalto we will be delighted to help you. Contact us to get to know us and see how we can help your company.

5 Advantages of payroll outsourcing

La gestión de la nómina es uno de los procesos más sacrificados y delicados en una empresa. España es uno de los países en los que la gestión de la nómina es más difícil. Sin embargo, muchas empresas siguen prefiriendo gestionar ellos mismos los salarios de los trabajadores. En este artículo, vamos a ver cuales&hellip; Seguir leyendo 5 Ventajas de la externalización de nómina

5 Ventajas de la externalización de nómina - Vasalto

5 Ventajas de la externalización de nómina

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Payroll outsourcing is a way to reduce the workload in Human Resources departments. It consists of hiring an external company, which will be in charge of managing all the processes related to the payroll of our employees.
In many cases, companies decide to handle payroll internally. Being a mechanical process in which, at first glance, there should not be much of a problem, employers decide to manage it themselves. However, taking payroll in-house also involves a number of risks that are easily avoidable with outsourcing.
<h4>Risks of having payroll in-house</h4>
Managing payroll can be costly for many companies. First of all, it is necessary to hire personnel specialized in these processes. It means having one or more people on the payroll who are up to date with payroll regulations to avoid incurring in infractions or submitting payrolls that are out of date. In addition, these personnel will need a number of technologies to help them automate these processes. In many occasions, the cost of having these people and hiring this technology does not correspond to the benefits it brings to our company, especially in smaller companies.
In addition, we can see that there are efficiency issues. Not having an optimized system for submitting them can mean that these departments spend more time than necessary to do so, taking time away from the issues that are important to our company.
<h4>The solution: outsourcing payrolls</h4>
To avoid these risks, there are companies known as Back Office companies. These companies, such as Vasalto, offer their services to outsource the payroll process. They have extensive experience in this sector, as well as a series of computer systems that streamline this process. Thus, they can take on a large payroll load from different companies, saving them a great deal of time that they can invest in other matters of greater importance to them.
Having an external company manage your company&#8217;s payroll means putting yourself in expert hands. These companies specialize in these administrative processes. For that reason, they can offer guarantees that the payrolls will reach the employees in due time and form. In addition, these companies will always be up to date with the different regulations related to payroll. Issues such as data protection may be overlooked by someone who is not familiar with the payroll process, but not by someone who is an expert in the field.
At Vasalto, we have been working with payroll outsourcing for more than 30 years. This gives us extensive experience in the sector, in addition to a series of proprietary computer systems that allow us to manage more than 40,000 payrolls every month. In addition, we also have the best legal and accounting advice, to offer our clients the best possible service.
If you find yourself in a situation similar to the one we have seen in this article, at Vasalto we will be delighted to help you. Contact us to learn more about outsourcing and to see how we can help your company.

What does payroll outsourcing involve?

  La externalización de las nóminas es una forma de disminuir la carga de trabajo en los departamentos de Recursos Humanos. Consiste en contratar a una empresa externa, la cual se va a encargar de gestionar todos los procesos relacionados con las nóminas de nuestros empleados.  En muchas ocasiones, las empresas deciden llevar la nómina&hellip; Seguir leyendo ¿En qué consiste la externalización de nóminas?

¿En qué consiste la externalización de nóminas? - Vasalto

¿En qué consiste la externalización de nóminas?

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