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Form 100. Personal Income Tax Return 2022

Rents and charges

This heading includes expenses arising from the rental of movable or immovable property, as well as amounts paid for the right to use patents, trademarks and other manifestations of industrial property.

Financial leasing contracts

specific tax regime is established for financial leasing contracts in which the following requirements are met:

  • That the lessor is a credit institution or a financial credit institution.

  • They must have a minimum duration of 2 years when they are aimed at movable property and 10 years when they are aimed at real estate or industrial establishments.

  • That the financial leasing fees appear expressed in the respective contracts, differentiating the part that corresponds to the recovery of the cost of the asset by the leasing entity, excluding the value of the purchase option and the financial burden required by it, all without prejudice to the application of the corresponding indirect tax.

  • That the annual amount of the part of the financial leasing installments corresponding to the recovery of the cost of the asset must remain the same or increase over the contractual period.

Once these requirements are met, the following can be deducted:

  1. The entire portion of the installments corresponding to the financial burden paid to the leasing entity is considered a tax-deductible expense.

  2. The portion of the financial leasing fees paid to the lessor that corresponds to the recovery of the cost of the asset is considered a deductible expense with the following two limitations:

    1. The deductible amount may not exceed the result of applying twice the maximum linear amortization coefficient to the cost of the asset according to the officially approved amortization tables (the coefficient will be multiplied by three in the case of taxpayers who are considered small companies for tax purposes).

    2. In the event that the object of the contract is land, plots of land and other non-depreciable assets, this portion of the fee does not constitute a deductible expense. In the event that such condition is met only in part of the asset subject to the transaction, only the proportion corresponding to the elements susceptible to amortization may be deducted, which must be expressed separately in the respective contract.