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Form 200. Corporate Income Tax Declaration 2018

4.2.16 Codes 00321 and 00322 losses due to deterioration of Art. 13.1 LIS not affected by Art. 11.12 LIS or by DT 33ª.1 LIS

When there is a risk in the collection of a certain debt, entities are required in accounting terms to make a provision for debtor insolvency.

On the other hand, from a tax point of view, article 13.1 of the LIS establishes that losses due to impairment of credits derived from possible insolvencies of debtors will be deductible when at the time of accrual of the tax if any of the following circumstances occur:

  1. That six months has passed since the obligation fell due.

  2. That the debtor is declared to be in bankruptcy proceedings.

  3. That the debtor is being tried for asset stripping.

  4. That the obligations have been claimed judicially or are the subject of a judicial litigation or arbitration procedure on the solution of which their collection depends.

However, even if the above circumstances occur, the following will not be tax deductible:

  1. Those corresponding to credits owed by public law entities, unless they are the subject of an arbitration or judicial procedure regarding their existence or amount.

  2. Those corresponding to credits owed by related persons or entities, unless they are in bankruptcy and the liquidation phase has been opened by the judge, in the terms established in Law 22/2003, of July 9, Bankruptcy. .

  3. Those corresponding to global estimates of the risk of insolvencies of clients and debtors.

Therefore, the taxpayer must include in the increases key [00321] the amount of losses due to impairment of value of credits derived from possible insolvencies of debtors recorded in the tax period being declared, which are not tax deductible according to the provisions of article 13.1 of the LIS.

On the other hand, the taxpayer will include in the reductions key [00322] the amount of those losses recorded in the period in which they are tax deductible for complying with the requirements of article 13.1 of the LIS. Likewise, when in a tax period subsequent to the accounting of the aforementioned impairment losses that caused a positive adjustment to the accounting result (key [00321]) because it is not tax deductible, the value of the impairment is recovered, the taxpayer must include in the key [00322] the amount corresponding to said reversal.

Finally, it is necessary to remember that these keys must include the amounts related to the losses due to impairment of the credits of article 13.1 of the LIS, provided that they are not affected by the provisions of article 11.12 of said rule, in which case they must be declared in accordance with the provisions of the following section (keys [00415] and [00211]).