Tourist accommodation establishments for which management (and/or owners) have opted to make tourist tax returns through the system of objective estimation are now subject to their first self-assessments.
Under this, there has to be a calculation of 40% of estimated tax receipts for 2016. This covers the period from when the tax was introduced - 1 July - until the end of the year or until establishments close for the season. Once calculated, payments need to be made to the Tax Agency in the Balearics. There are twenty days for this self-assessment process, starting on 1 September.
The vast majority of establishments have opted for this method - 95.5% of those which are on the register of some 12,500 establishments. The amount calculated is to be transferred electronically, with four banks - BMN, BBVA, CaixaBank and Banca March - collaborating in the process. The definitive settlement will be made in January.
There are two types of accommodation which are excluded from this method, even if they have opted for the system of objective estimation. These are holiday rentals and campsites. The Tax Agency will calculate the final settlement for 2016 that will be forwarded between 1 May and 30 June next year.
The remaining 4.5% of establishments will have to wait until October in order to make settlements for the third quarter of the year and these will be according to the exact number of tourist stays from 1 July to the end of September.
Of the 12,500 or so establishments on the register, 650 were registered after the deadline of 31 July. During August the agency has started procedures for the treatment of information provided, with attention being given to those establishments that were not previously on any register of tourist accommodation.