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Form 100. 2019 Personal Income Tax return

7,4,2,2. Full income

All income derived from the exercise of the activity will be recorded in this section.

Operating income

Operating income comprises the amount of the compensation obtained from the sale of goods and the provision of the services that constitute the object of the activity, including those from services that are ancillary to the main activity.

Financial income derived from the deferral or payment in instalments of transactions carried out in the course of the activity 

The payment obtained by the taxpayer for the deferred payment or instalment of the price of the transactions carried out in the course of their usual economic activity.

Revenue from current grants

These are generally granted to ensure a minimum return or offset losses caused by the activity. They are generally recognised as income in the period in which they accrue, i.e. when the subsidy is recognised and quantified.

Allocation of income from capital grants 

These are those granted to encourage the establishment of the activity, the realisation of investments in fixed assets or the execution of expenses of a multiannual projection. They are recognised as income in proportion to the depreciation experienced in the financial year (depreciation) for the assets or expenses financed with these grants. In the case of non-depreciable assets, the subsidy will be attributed to the result of the financial year in which the disposal or removal takes place in the inventory, applying the reduction of 30 per 100 for being considered as income obtained in a notorious irregular manner over time.

Self-consumption of goods and services

The normal market value of the goods and services that are the object of the activity that the taxpayer provides or assigns to third parties free of charge or for their own use or consumption shall be included as income. Likewise, when there is a consideration and this is clearly lower than the normal value on the market of the goods and services, the latter will be taken care of.

 VAT accrued

The income should not include the amount of the VAT charged, unless the activity carried out is, for example, in the Special Regime for the Charge of Equivalence or in the Special Regime for Agriculture, Livestock and Fisheries.

Stock variation

Stock variation is the difference between the initial stocks and the final stocks, so when the stock valuation at the beginning of the financial year is lower than at the end of the financial year, this difference must be reflected as income.

Other income

The following concepts will be included in this heading, among others:

  1. Work carried out for the company itself

    Without prejudice to its calculation as an expense according to its nature, at the end of the financial year the cost of production of fixed assets manufactured or constructed by the company itself will be considered as a payment in the counterparty.

  2. Excess and application of provisions

    The excess and application of provisions and impairment losses will be recorded as income.

  3. Other management revenue

    Such as, for example, compensation for mediation services carried out accidentally, or for the eventual provision of certain services (transport, repairs, advice, reports, etc.), or income from services to personnel.

  4. Compensation received from insurance companies

    Compensation received from insurance companies for claims that have affected operating products (stocks of goods, raw materials, containers, packaging, etc.).

Transfer of capital elements that have enjoyed freedom of amortisation: Excess depreciation deducted from deductible depreciation (Additional Provision LIRPF)

If 2019 capital elements have been transferred that have enjoyed the freedom of amortisation provided for in the eleventh Additional Provision of the refundidable text or the Spanish Corporation Tax Act, for the calculation of capital gains or losses, the acquisition value will not be reduced in the amount of repayments deducted from those that have been tax deductible if the freedom of amortisation has not been applied. The excess shall, for the transferor, be considered as full economic activity return in the tax period in which the transfer is made.