4.2.6 Codes 00361 and 00362 other differences in temporary allocation of income and expenses (Art. 11 LIS)

These keys will include the adjustments in the following cases:

• If an expense is accounted for in the profit and loss account or in a reserve account in a tax period prior to its tax accrual period, the precise adjustment must be made so that it is not allocated in said period, but in the accrual period.

  Therefore, if this expense has been recorded in the profit and loss account, a correction must be made for increases in key [00361]. However, in the event that said expense has been recorded in a reserve account, the tax base will not have to be increased since its amount is not included in the accounting result. Likewise, in the tax period in which the accrual of said expense occurs, a correction will have to be made for a decrease in the key [00362], regardless of the account in which they were recorded.

• Income imputed in the profit and loss account or in a reserve account in a tax period prior to that of its tax accrual, will be allocated for tax purposes in the tax period corresponding to its accounting allocation, provided that lower taxation does not result. to which it would have corresponded by application of the general rules of temporary imputation.

  In this case, if the income has been accounted for in the profit and loss account, no adjustment will have to be made. On the other hand, if said income has been accounted for in a reserve account, a correction for increases in key [00361] must be made in the tax period in which it was recorded.

• Expenses that are allocated for accounting purposes in the profit and loss account or in a reserve account in a tax period subsequent to the one in which they accrued, will be allocated for tax purposes in the tax period corresponding to their accounting allocation, provided that this does not result in a taxation lower than that which would have corresponded by application of the general rules of temporary imputation.

  In this case, if the expense has been accounted for in the profit and loss account, no adjustment will have to be made. On the other hand, if said expense has been accounted for in a reserve account, a correction due to a decrease in key [00361] must be made in the tax period in which it was recorded.

• Income that has been accounted for in the profit and loss account or in a reserve account in a year subsequent to that of its tax accrual, will give rise to a correction for decreases in the key [00362] only when they have been accounted for in the profit and loss account in the accounting year. However, if said income has been recorded in a reserve account, the tax base will not have to be reduced, since its amount is not included in the accounting result.

  Likewise, in the tax period of its tax accrual, which will be prior to its accounting, a correction will have to be made for increases in the code [00361], regardless of the account in which they were recorded.

These keys will also include other corrections generated by temporary imputation differences that do not have a place in specific keys created in model 200.

Thus, article 11.5 of the LIS establishes that the reversal of expenses that have not been tax deductible will not be included in the tax base.

Article 11.7 of the LIS establishes that when provisions are eliminated, because they have not been applied to their purpose, without crediting them to an income account for the year, their amount will be integrated into the tax base of the entity that provided them, in the extent to which said provision would have been considered a deductible expense.

Finally, article 11.8 of the LIS establishes that when the entity is a beneficiary or has recognized the right of redemption of life insurance contracts in which, in addition, it assumes the investment risk, it will in all cases integrate into the tax base the difference between the net asset value of the assets covered by the policy at the end and beginning of each tax period.

The provisions of this section will not apply to insurance that implements pension commitments assumed by companies in the terms provided for in the first Additional Provision of the Consolidated Text of the Law on the Regulation of Pension Plans and Funds, approved by the Royal Decree. Legislative 1/2002, of November 29, and its implementing regulations.

The amount of the imputed income will reduce the performance derived from the receipt of amounts from the contracts.

Therefore, in relation to the provisions of these precepts, the taxpayer must make in keys [00361] and [00362], the adjustments generated by the non-integration into the tax base of the reversal of expenses that have not been tax deductible. , as established in article 11.5 of the LIS, or when provisions are eliminated because their purpose is not applied according to the provisions of article 11.7 of the LIS, or when the entity is a beneficiary or has the right to redeem life insurance contracts recognized. in which, in addition, it assumes the investment risk, in the terms established by article 11.8 of the LIS.