|Special Consumption Tax
Through Law 16/21, of July 19th, was approved the new Special Consumption Tax Law (SCTL), being revoked Law 8/19, of April 24th, that approved the old STCL, and 18/19, of August 13th, that changed the first. The mains changes introduced by the new STCL against the old one are: (i) exemption of tax on electric vehicles; (ii) new regulations to the exemption on raw materials; (iii) the value liable to tax on production is now the transaction value of the goods produced, except for oil derivates, that is kept the production cost; (iv) obligation of apposition of tax stamps, and its regulation, for beverages, tabaco and oil derivates; (v) creation of specific penalties; and (vi) reduction of rates on beverages and cars.
It is understood by transaction value, or value on exit of the manufacturer establishment, the sell price practiced between independent parties or, in other operations, the market value on identical products or, if inexistent, the market value on similar products. Once more is reinforced the need of compliance with Transfer Pricing obligations, already reinforced, in our understanding, with the change last year on Article 50º of the CIT Code, namely the need of all taxpayers having proper documentation on related-party transactions, max the Transfer Prices File.
Of our reading of the new SCTL, and being the tax a cost of the acquirer of the goods, we understand that the tax should now be included in the invoices issued by the manufacturers to its clients, and on this tax will be due VAT, as provided in Article 17º of the VAT Code
The new Law enters into force 30 days after its publication, except for the regulation on the apposition of tax stamps, that enters into force after 6 months of the new Law enters into force.