4.2.22 Keys 00327 and 00328 impairment loss on debt securities (Art. 13.2.c) and DT 15ª LIS)

According to the provisions of letter c) of section 2 of article 13 of the LIS , losses due to impairment of debt securities will not be tax deductible.

Therefore, the taxpayer must include in the [00327] increase key the amount corresponding to the impairment losses on debt securities recorded in the tax period being declared, which are not tax deductible according to the provisions of letter c) of article 13. 2 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 [00327]) because it was not tax deductible, the value of the impairment is recovered, the taxpayer must include in key [00328] the amount corresponding to said reversal.

In relation to the provisions of letter b) 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 debt securities 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.

For these purposes, said integration will be recorded in the key [00327] of increases.