Is it compulsory to keep accounting books in Spain?
In Spain, the keeping and legalisation of accounting books is a legal obligation for commercial companies, regulated by the Commercial Code, the Capital Companies Act and other accounting and tax regulations.
Who is obliged to keep accounting books?
Trading companies (S.L., S.A., cooperatives, etc.) are obliged to keep accounts in accordance with the Commercial Code. Compulsory books include
- Journal
- Inventory Book and Annual Accounts
- Corporate books: Minute Book, Shareholders' Register Book (S.L.), Book of Nominative Shares (S.A.)
Where are they filed?
The accounting books must be legalised telematically at the Mercantile Register corresponding to the registered office, before 30 April of the year following the end of the financial year, through its online platform
Penalties for non-compliance
Failure to legalise the books may result in:
- Loss of evidentiary validity of the accounts
- Difficulties before the tax authorities in justifying income and expenses.
- Possible guilty qualification in the event of insolvency proceedings.
- Administrative sanctions if tax obligations are not complied with
Applicable regulations
- Commercial Code (arts. 25 et seq.)
- Capital Companies Act (Ley de Sociedades de Capital)
- Regulations of the Commercial Register
- Rules of the Spanish Accounting and Auditing Institute (Instituto de Contabilidad y Auditoría de Cuentas (ICAC))
| Código de Comercio RealDecreto 22 agosto 1885 Consolidado | 489 KB | ||
| Ley Sociedades de Capital RealDecreto 1 2010 Consolidado | 1013 KB |
