4.2.18 Keys 00331 and 00332 impairment losses on tangible fixed assets, real estate investments and intangible fixed assets, including goodwill (Art. 13.2 a) and DT 15 LIS)

In letter a) of article 13.2 of the LIS it is established that for tax periods beginning on or after January 1, 2015, losses due to impairment of tangible fixed assets, real estate investments and intangible fixed assets, including goodwill, are not tax deductible.

In application of the provisions of this precept, the following adjustments must be made in keys [00331] and [00332] "Losses due to impairment of tangible fixed assets, real estate investments and intangible fixed assets, including goodwill (art. 13.2 a) and DT 15 LIS)" on page 12 of form 200:

• In the [00331] key for increases, the taxpayer must include the amount of losses due to impairment of securities representing participation in the capital or equity recorded in the tax period being declared, which are not tax deductible according to the provisions of article 13.2.a) of the LIS.

• However, when in a tax period after the accounting of the aforementioned impairment losses that gave rise to a positive adjustment to the accounting result (key [00331]) because it was not tax deductible, the value of the impairment is recovered, the taxpayer must include in key [00332] the amount corresponding to said reversal.

In relation to the provisions of letter a) of article 13.2 of the LIS, the fifteenth transitional provision of said regulation establishes a transitional regime according to which the reversal of losses due to impairment of tangible fixed assets, real estate investments and intangible fixed assets that would have been tax deductible in tax periods beginning before January 1, 2015, will be integrated into the taxable base of the Corporate Tax of the tax period in which their value is recovered in the accounting field. In this case, said integration will be recorded in the [00331] key for increases.