8.3.4. Compensation of negative items in the savings tax base
Negative items from previous years pending compensation at 1 January 2019 may be:
- Negative balances of return on movable capital of 2015, 2016, 2017 and 2018, pending compensation at 1 January 2019, to be included in the savings tax base.
- Negative balances of capital gains and losses of 2015, 2016, 2017 and 2018, pending compensation at 1 January 2019, to be included in the savings tax base.
. Offsetting of the outstanding negative items from previous years with their respective positive balance of income or profit and loss for the 2019 financial year
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The positive balance of capital gains for 2019, once this balance was reduced by the compensation of capital losses corresponding to the financial year 2019, can be offset by the taxpayer with the balance of negative returns on movable capital pending compensation for the 2015, 2016, 2017 and 2018 financial years.
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The positive balance of profit and loss for 2019, once this balance was reduced by offsetting the negative balance, if any , of capital gains obtained in 2019, can be offset by the taxpayer with the balance of the losses pending compensation for the 2015, 2016, 2017 and 2018 financial years.
Under no circumstances will compensation be made outside the term of four years, by accumulating negative net balances or subsequent capital losses.
. Offsetting of the remaining negative balances of gains on movable capital and gains and losses pending from previous years not offset
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If there were negative balances of movable capital gains for the 2015, 2016, 2017 and 2018 financial years that had not been offset as indicated previously, capital gains for the 2019 financial year may be offset with the remaining positive balance, if any, up to the limit of 25 per 100 of the aforementioned positive balance.
This compensation, together with that of the negative balances of 2019 movable capital gains, may not exceed the limit of 25 per cent of the positive balance of gains and losses of 100. 2019
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If there were negative capital gains and losses for the 2015, 2016, 2017 and 2018 financial years that had not been offset, in which in the case of a change in the balance of movable capital gains for the 2019 financial year, up to the limit of 25% of the aforementioned positive balance, if any. 100
This compensation, together with that of the negative gains and losses of 2019 that are offset with the positive balance of movable capital gains of 2019, cannot jointly exceed the 25% per 100 limit of the positive balance of 2019 capital gains before compensation.