🇪🇸 Why Accounting in Spain Matters for Foreign Companies
Accounting in Spain is not just about keeping records — it’s a legal obligation, tied to tax declarations, corporate compliance, and audit risk. Whether you’re a one-person SL or a growing startup, you must comply with Spain’s mercantile and tax code.
✅ Every SL or branch must follow Spanish GAAP (PGC)
✅ Deadlines are strict and linked to tax filings
✅ Fines apply for missing ledgers or late submissions
💡 At Borderless Lawyers, we manage bookkeeping + tax for foreign founders and SMEs.
📊 Accounting Rules for Spanish Companies (SLs)
You must maintain the following ledgers:
| Required Ledger | Description |
|---|---|
| Libro Diario | Chronological record of all entries |
| Libro Mayor | Categorized by account (expenses, assets, etc.) |
| Libro de Inventarios y Cuentas Anuales | Year-end balance sheets, P&L, inventory |
| IVA Ledger (if VAT registered) | VAT on sales & purchases |
| Libro de Actas | Meeting minutes (for corporate compliance) |
These must be digitally submitted to the Mercantile Registry annually — usually within 4 months after year-end.
📅 Bookkeeping and Filing Deadlines
| Task | Deadline |
|---|---|
| Monthly bookkeeping | Ongoing |
| Quarterly VAT return (Modelo 303) | April, July, Oct, Jan |
| Quarterly income withholding (Modelo 111/115) | Same as above |
| Corporate tax return (Modelo 200) | 25 July (for calendar year) |
| Annual accounts deposit (Registro Mercantil) | Within 30 days of approval |
| Annual summary declarations (Modelo 390, 190, 347) | Jan–Feb each year |
📌 All filings must be done electronically, and errors may trigger automated inspections.
💰 Hiring an Accountant or Doing It Yourself?
You can:
-
Hire a gestor or accountant to manage the full process
-
Use cloud accounting software (e.g. Holded, Quipu, Sage Spain)
-
Work with a law firm offering legal + tax compliance (like us)
💡 Most foreign business owners prefer bundled services to avoid multi-provider confusion.
⚠️ Common Mistakes by Foreign-Owned Companies
⛔ Failing to register books with the Mercantile Registry
⛔ Not issuing compliant Spanish invoices (with IVA, NIF, etc.)
⛔ Using foreign accounting software that doesn’t match Spanish GAAP
⛔ Missing VAT or corporate tax filings
⛔ Not reconciling Modelo 200 and financial accounts
🏦 Accounting for Spanish vs. Foreign Income
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If your company sells to Spain or EU: Spanish VAT rules apply
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If your SL invoices clients abroad: different VAT treatments (reverse charge, exempt)
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You must declare all worldwide income unless structured as a branch
📌 We help structure operations to optimize taxes while remaining compliant.
🧑💼 Our Accounting & Bookkeeping Services
At Borderless Lawyers, we provide:
✅ Monthly bookkeeping & ledger maintenance
✅ Invoice compliance review (IVA, NIF, IRPF)
✅ Quarterly and annual tax filings (AEAT + Mercantile Registry)
✅ Communication with your tax office (Delegación de Hacienda)
✅ Support with audits, fines, or error corrections
✅ Multilingual service for founders abroad
📞 Need Help with Accounting in Spain?
We help international founders and businesses manage their accounts in Spain — clearly, correctly, and on time.
👉 Contact us to set up your accounting and bookkeeping with legal oversight.
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