4.2.67 Codes 00383 and 00384 hydrocarbons: Amortization of intangible investments and research expenses (Art. 99 LIS)

With respect to the tax regime for hydrocarbon research and exploitation regulated in Chapter IX of Title VII of the LIS , in accordance with the provisions of section 1 of article 99 of the LIS, intangible assets and research expenses incurred on urgent, expired or extinguished permits and concessions shall be considered as intangible assets from the moment of their realization and may be amortized with a maximum annual rate of 50 percent, and there shall be no maximum amortization period for them.

Entities covered by the aforementioned regime must record in key [00384] (decreases) the excess of tax amortization that, over the accounting amortization, they have applied in the tax period subject to declaration in relation to the intangible investments and research expenses referred to in the previous paragraph. And in key [00383] (increases) they must record the amount of the amortization of said investments and expenses recorded in the tax period subject to declaration whose tax deductibility has been applied in previous tax periods and in them the corresponding correction or negative adjustment has been made to the result of the profit and loss account.