AN IMPORTANT NEW FEATURE IS THAT PARTIALLY EXEMPTED ENTITIES, SUCH AS SPORTS CLUBS, NEIGHBOURHOOD ASSOCIATIONS, PENSIONERS’ ASSOCIATIONS, PARENTS’ ASSOCIATIONS, ETC. MUST SUBMIT CORPORATE TAX RETURNS, WHICH MEANS THAT THEY MUST KEEP ACCOUNTS IN ACCORDANCE WITH THE TAX RULES IN EFFECT. THE EXCEPTIONS ARE ONLY:
“…are not required to submit a declaration when they comply with the following requirements:
Their total income does not exceed 50,000 euros per year.
That the income corresponding to non-exempt income does not exceed 2,000 euros per year.
That all the non-exempt income they obtain is subject to withholding.