8.3.2. Offsets of negative items in the general tax base

Compensation of negative items pending from previous years

The negative balances of capital gains and losses of 2016, 2017, 2018 and 2019 pending compensation as of January 1, 2020 not derived from the transfer of assets will be offset:

Firstly, with the positive balance of capital gains and losses obtained in the year up to the maximum amount of the amount of said balance.

Secondly, with the positive balance of the returns and income allocations, once said balance has been reduced by the compensation of the negative balance, if any, of losses and gains obtained in the year.

The compensation of the negative balances of capital gains and losses of the year and of previous years pending compensation, may not jointly exceed the limit of 25 percent of the positive balance of the returns and income allocations before said compensations.