Bond insurance for Special Taxes and Guarantees
It ensures compliance with tax obligations and improves creditworthiness.
The bond insurance for excise taxes acts as a guarantee to the Agencia Estatal de Administración Tributaria, ensuring compliance with tax obligations in regulated activities.
The bond insurance for excise taxes is a form of financial guarantee presented to the Agencia Estatal de Administración Tributaria. It acts as a joint guarantor, ensuring compliance with tax obligations in regulated activities. This type of insurance is essential for responding to obligations associated with the intra-Community circulation of products subject to excise taxes, as specified in Article 43 of Real Decreto 191/2010 (update published in the BOE on December 7, 2016), which approves the Regulation on Excise Taxes.
Highlights
The bond insurance covers the amount of the fees that may arise due to incidents during the circulation of goods subject to excise taxes. This type of guarantee is valid for intracommunity activities. The policies are issued annually, with automatic renewal at the end of the year, adjusted according to the average turnover of the last three years.
Coverages
It covers the amount of the fees that may arise due to incidents during the circulation of goods subject to excise duties, from the customs of importation to the final establishment.
Bond insurance for Special Taxes and Guarantees
How can we help you?
Contact your specialists for Bond insurance for Special Taxes and Guarantees
Frequently asked questions
Who takes it out?
The bond insurance for special taxes is intended for:
Manufacturers
Deposit Holders
Tax Warehouse Holders
Registered Tax Operators
Tax Representatives
Products that require Bond Insurance
The products for which the contracting of this insurance is required include:
1. Alcohol
2. Derived Beverages and Intermediate Products
3. Beer, Wine, and Fermented Beverages
4. Hydrocarbons
5. Tobacco Operations
This insurance is an essential requirement for the start and development of activities in these sectors. It is submitted to the various provincial delegations of the Treasury, belonging to the Agencia Estatal de Administración Tributaria, and is renewed annually based on the average billing of the last three years.
Advantages of Bond Insurance
Choosing bond insurance for special taxes instead of a bank guarantee offers several significant advantages:
1. Increased Credit Capacity: By not being counted in the CIRBE, it improves the company's credit capacity.
2. Reduction of Liabilities: It decreases the obligations recorded on the financial balance sheet.
3. Reduced Costs: The periodization allows charging only for the exact days of coverage.
4. No Study or Opening Fees: The insurance is managed without additional charges for study or opening.
5. Does Not Require Pledging of Advances: The company's financial resources remain available.
Types of Bonds
The surety bond models for excise taxes are designed for various areas of activity, including:
Manufacturers: Ensuring compliance in the manufacture and circulation of products subject to taxes.
Holders of Tax Deposits: Guaranteeing the tax obligations of the deposits.
Holders of Tax Warehouses: Protecting tax compliance in the storage of products.
Registered Operators: Ensuring the registered operations of intra-community circulation.
Tax Representatives: Guaranteeing the tax responsibilities of the representatives. These bonds offer a reliable and efficient solution to comply with tax and regulatory obligations in the excise tax sector.