Modelo 425: Annual IGIC Summary Declaration

Modelo 425 is the annual summary declaration for the Impuesto General Indirecto Canario (IGIC), the indirect tax applied in the Canary Islands. Its purpose is to consolidate all the information from your four quarterly Modelo 420 declarations into a single yearly document. It is the Canary Islands equivalent of Modelo 390, which serves the same function for IVA on mainland Spain.

Who must file Modelo 425

According to the ATC official page, Modelo 425 must be filed by IGIC taxpayers in the general regime, except those in SII, and by certain special regimes. In practice, if you file quarterly IGIC returns outside SII in the Canary Islands, you should check whether this annual summary also applies to you.

The obligation applies, among others, to:

• Taxpayers in the general IGIC regime who are not in SII
• Taxpayers in the special regime for small entrepreneurs or professionals
• Taxpayers in the special regimes for used goods, works of art, antiques and collectors' items, and travel agencies

Important: Even if your annual result is zero, you are still required to file Modelo 425 if you submitted quarterly Modelo 420 declarations.

Filing deadlines

Modelo 425 is filed once per year, during the same window as the Q4 Modelo 420:

• Filing period: January 1 through January 31 of the following year
• Tax year covered: The entire previous fiscal year (January to December)

If the last day falls on a weekend or public holiday, the deadline extends to the next business day.

For example, the Modelo 425 for the 2025 tax year is filed between January 1 and January 31, 2026, at the same time as the Q4 Modelo 420.

What it includes

Modelo 425 captures the annual totals of your IGIC activity:

• IGIC charged (IGIC repercutido): All the IGIC you charged clients throughout the year, broken down by the tax rates that applied in each case
• IGIC paid (IGIC soportado): All the IGIC you paid on deductible purchases and expenses over the full year
• Annual result: The difference between total IGIC charged and total IGIC paid for the year
• Exempt or non-taxable operations: Any IGIC-exempt activities carried out during the year
• Total volume of operations: Your overall annual invoicing figure in the Canary Islands

It is essential that the figures in your Modelo 425 match exactly with the sum of your four quarterly Modelo 420 declarations.

Relation to Modelo 420

Modelo 425 and Modelo 420 are directly linked:

• Modelo 420 is filed every quarter and is the form through which IGIC is actually settled (paid or offset)
• Modelo 425 is an informational summary of the full year, grouping all four quarters together
• No payment is made with Modelo 425 — all IGIC has already been settled through the quarterly Modelo 420 filings
• If you discover an error while preparing Modelo 425, you must correct it by submitting a complementary Modelo 420 for the affected quarter

Think of Modelo 425 as the big-picture view: it does not create any additional payment obligations, but the Agencia Tributaria Canaria uses it to verify that your quarterly declarations are consistent with one another.

How to reconcile Modelo 420 with Modelo 425

Before filing Modelo 425, follow these steps to ensure your data is consistent:

1. Gather all four Modelo 420 filings: Obtain copies for Q1, Q2, Q3, and Q4 of the tax year
2. Add up by field: Total the IGIC charged and IGIC paid across all four quarters, broken down by each tax rate
3. Compare with Modelo 425: The annual totals must match exactly with the sums from the four Modelo 420 filings
4. Verify offsets: If you carried forward negative balances between quarters, make sure they are correctly reflected in the annual summary
5. Correct discrepancies: If you find differences, file a complementary Modelo 420 for the affected quarter before submitting the 425

Practical tip: Keep a quarterly tracking spreadsheet with the amounts from each Modelo 420 as you file them. This way your data will be ready when the annual summary is due in January.

Online filing

The ATC official page states that telematic filing is mandatory as a general rule, with specific exceptions. For the online route, you will need:

• Accepted electronic ID: digital certificate or DNIe, DNI + PIN, or Cl@ve
• Invoice record books: Both issued and received invoices for the entire year
• Copies of your Modelo 420 filings: All four quarterly submissions for the tax year, so you can verify that the totals align
• Annual totals by tax rate: A breakdown of IGIC charged and paid according to the rates used during the year

The same official page also keeps a paper/help-program route and in-person assistance for taxpayers who fall within the exceptions to mandatory telematic filing, especially certain individuals renting out property and certain individuals in the special regime for small entrepreneurs or professionals.

Late filing consequences (Consecuencias de presentar fuera de plazo)

Modelo 425 is an informational return, so its sanction regime is not the same as a self-assessment with tax due. The legal references are articles 198 and 199 of the Ley General Tributaria.

In practice:

• Late filing can still lead to a penalty even though no extra tax is paid with Modelo 425
• Failure to file and incorrect or incomplete data can also be sanctionable
• The exact amount depends on the circumstances, including whether there was a prior formal notice and whether any reductions apply

If you have a mismatch between Modelo 420 and Modelo 425 or need to file late, it is safer to review the case with an adviser or directly with the ATC before submitting.

Comparison: Modelo 425 vs Modelo 390

Aspect	Modelo 425 (Canarias)	Modelo 390 (Mainland Spain)
Tax	IGIC	IVA
Filed with	Agencia Tributaria Canaria (ATC)	AEAT
Deadline	January 1–31	January 1–30
Quarterly equivalent	Modelo 420	Modelo 303
Standard rate	7%	21%
Nature	Informational (no payment)	Informational (no payment)
Electronic filing	ATC	AEAT

Both forms are annual informational summaries with no tax payment due. The main practical difference is the tax authority they are filed with and the tax they summarize.

Related articles (Artículos relacionados)

• Modelo 420: Quarterly IGIC — the quarterly declaration that feeds the annual Modelo 425 summary
• Modelo 390: Annual IVA summary — the mainland equivalent of Modelo 425
• Tax obligations for autónomos (Obligaciones fiscales) — an overview of all tax declarations
• Tax calendar (Calendario fiscal) — all deadlines at a glance