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Form 200. Corporate Income Tax Declaration 2018

4.2.46 Codes 01015 and 01016 effects of accounting valuation other than tax valuation (Art. 20 LIS)

Article 20 of the LIS establishes that when a property element or a service has a different accounting and tax valuation, the acquiring entity will integrate the difference between the two into its tax base, as follows: manner:

  1. In the case of equity elements that make up current assets, in the tax period in which they motivate the accrual of an income or an expense.

  2. In the case of non-amortizable assets that are part of fixed assets, in the tax period in which they are transferred or derecognised.

  3. In the case of amortizable assets that are part of the fixed assets, in the tax periods that remain in their useful life, applying to the aforementioned difference the amortization method used with respect to the aforementioned elements, unless they are subject to transfer or derecognition beforehand, in which case, will be integrated on the occasion of it.

  4. In the case of services, in the tax period in which they are received, except that the amount must be incorporated into an asset element in which case the provisions of the previous paragraphs will apply.

In application of the provisions of this precept, in the tax period that the entity acquiring a property element or a service has a different accounting and tax valuation, it must integrate the difference of both values into these keys.