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Form 200. Corporate Income Tax Declaration 2018

4.2.3 Codes 00359 and 00360 reversal of the impairment of the value of assets (Art. 11.6 LIS)

Article 11.6 of the LIS establishes that the reversal of an impairment or value correction that has been tax deductible will be charged to the tax base of the tax period in which said reversal occurred. , whether in the entity that carried out the correction or in another linked to it. The same rule will be applied in the event of losses derived from the transfer of assets that have been acquired again.

In application of the provisions of this article, it will be necessary to make a series of adjustments that will be included in keys [00359] and [00360]:

  • When the value of an item whose depreciation at a previous time caused the impairment or correction of value that was tax deductible at the time is recovered, it must be included in key [00359] the amount corresponding to the reversal of the impairment or Correction of value of the patrimonial element.

  • In the case in which an entity transmits to a related entity, a patrimonial element on which it had computed the impairment or correction of value that was fiscally deductible, and the reversal of the impairment or correction of the value, occurs in a moment After said transfer, the transferring entity must include in key [00359] the amount corresponding to said reversal.

    On the other hand, if the transfer is made to an unrelated entity, in the tax period corresponding to the transfer, the transferor entity must include in key [00360], the amount that, on the occasion of the reversal of the impairment of value of the item patrimonial, included in the key [00359] in a previous tax period.

  • In the event that an entity transmits a patrimonial element to a third party, generating a loss in said transfer, and then reacquires it, resulting in a recovery of the value thereof, the transferring entity must record in the key [00359] the amount corresponding to said reversion