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Form 200. Corporate Income Tax Declaration 2018

4.2.74 Codes 00389 and 00390 regime of partially exempt entities (Chapter XIV, Title VII LIS)

In the codes [00389] (increases) and [00390] (decreases), the taxpayers of the Corporate Tax to whom the special tax regime established in chapter XIV of title VII of the Corporate Tax Law applies (see the list of taxpayers in the content of the key [00002]), will record the corrections to the accounting result that arise as a consequence of the specific application thereof.

Thus, in the key [00390] (decreases), they will include the income obtained in the tax period that, by application of the provisions of the aforementioned regulations, are exempt from tax or that should not be computed for determining the tax base. of the tax.

It is worth mentioning, among this type of income, the following:

  • Those that come from carrying out activities that constitute its corporate purpose or specific purpose, provided that they are not considered economic activities.

  • Those derived from acquisitions and transfers for profit, provided that both are obtained or carried out in compliance with their corporate purpose or specific purpose.

  • Those that are evident in the onerous transfer of assets related to the realization of the corporate purpose or specific purpose when the total product obtained is destined for new investments related to said corporate object or specific purpose.

New investments must be made within the period between the year prior to the date of delivery or making available of the asset element and the three years following and remain in the entity's assets for 7 years, except that their useful life in accordance with amortization method, of those admitted in article 12.1 of the LIS , that applies, is lower.

In none of the three previous cases will the correction be made for a decrease in the accounting result using the key [00390] in the case of income from economic exploitations, or income derived from assets, or income obtained in transfers other than those indicated above.

In key [00389] (increases), they will include non-deductible items for determining taxable income. These non-deductible items, in addition to those established by the general Corporate Tax regulations, are the following:

  • Expenses attributable exclusively to exempt income. Expenses partially attributable to non-exempt income will be deductible in the percentage that the income obtained in the exercise of non-exempt economic operations represents with respect to the total income of the entity.

  • The amounts that constitute the application of results and, in particular, those that are intended to support exempt activities.