When several people join together to form an association, they often do not know many of the formal obligations they will have in said association.
These obligations cover both accounting and commercial aspects as well as those arising from its nature as a non-profit entity. Associations must keep accounts that allow obtaining a true image of their assets, the results and financial situation of the entity, as well as the activities carried out. In this respect, they do not differ from any other entity with legal personality.
Tax filing obligations
With regard to taxation, the phone number 1000 association may be exempt from filing corporate tax if it meets certain requirements: its total income does not exceed 50,000 euros per year; its income from non-exempt income does not exceed 2,000 euros per year and all non-exempt income obtained is subject to withholding tax.
However, even if you have to file a Corporate Tax Return, there are certain incomes that are considered exempt from paying the tax:
1st-Those arising from the performance of activities that constitute its corporate purpose or specific purpose.
2º-Those derived from acquisitions and transfers for profit, provided that both are obtained or carried out in compliance with their specific object or purpose.