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Form 100. Personal Income Tax Return 2023

8.1.4. Offsetting negative items in the savings tax base

Negative items from previous years pending compensation as of January 1, 2023 may be:

  • Negative balances of capital gains from 2019, 2020, 2021 and 2022 pending compensation as of January 1, 2023, to be included in the savings tax base.

  • Negative balances of capital gains and losses from 2019, 2020, 2021 and 2022 pending offset as of January 1, 2023, to be included in the taxable savings base.

1. Offsetting the negative items pending from previous years with their respective positive balance of income or profits and losses for the year

  • The positive balance of income from movable capital for the year 2023, once said balance has been reduced by the offset of capital losses corresponding to the year 2023, may be offset against the balance of negative income from movable capital pending offset from the years 2019, 2020, 2021 and 2022.

  • The positive balance of profits and losses for the year 2023, once said balance has been reduced by the offset of the negative balance, if any, of capital gains obtained in the year 2023, may be offset against the balance of Losses pending offset for the years 2019, 2020, 2021 and 2022.

In no case will compensation be made outside the four-year period, by accumulating negative net balances or capital losses from subsequent years.

2. Offsetting of the remaining negative balances of capital gains and outstanding gains and losses from previous years not offset

  • If there are negative balances of capital gains from the years 2019, 2020, 2021 and 2022 that have not been offset as indicated above, they may be offset against the remaining positive balance, if any, of capital gains from the year 2023 up to the limit of 25% of said positive balance.

    This offset, together with the offset of negative balances of capital gains for 2023, may not jointly exceed the limit of 25% of the positive balance of profits and losses for 2023.

  • If there are negative balances of capital gains and losses from the years 2019, 2020, 2021 and 2022 that have not been offset, in which case, they may be offset against the remaining positive balance, if any, of income from movable capital from the year 2023, up to the limit of 25% of said positive balance.

    This offset, together with the offset of the negative balances of profits and losses for 2023 that are offset against the positive balance of capital gains for 2023, may not jointly exceed the limit of 25% of the positive balance of capital gains for 2023 before offsets.

By clicking on the icon "More info" located after box 0460, a window will open displaying information regarding the negative balances of capital gains and losses and the negative balances of income from movable capital pending application at the beginning of the period, the amounts applied in this declaration, and the balances pending compensation in the following 4 fiscal years.