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Form 200. Corporate Income Tax Declaration 2018

4.2.86 Keys 02129 and 02130 adjustments for the first application of Circular 4/2017 of the Bank of Spain, to Credit Institutions (DT 39 LIS)

For tax periods beginning on or after 1 January 2018, Royal Decree-Law 27/2018 modifies the LIS with the aim of introducing into Corporate Tax the effects of Circular 4/2017, of 27 November, of the Bank of Spain, for credit institutions.

The charges and credits to reserve accounts generated on the occasion of the adjustments of the first application of Circular 4/2017 will have fiscal effects, when appropriate by the application of the regulations governing the Tax, so they must be included in the taxable base of the Tax corresponding to the tax periods beginning on or after 1 January 2018.

For these purposes, the second paragraph of article 17.1 of the LIS establishes that changes in value arising from the application of the fair value criterion will not have fiscal effects as long as they must not be allocated to a reserve account, if so established by a legal or regulatory norm.

A transitional regime has been established in the new thirty-ninth transitional provision of the LIS to integrate into the tax base those charges and credits on account of reserves that are considered expenses and income, respectively, derived from the first application of Circular 4/2017, of November 27, insofar as they have tax effects, so that said integration will be carried out in equal parts in the tax base corresponding to each of the first three tax periods that begin on or after January 1, 2018.

Therefore, these entities must make in keys [02129] and [02130] "Adjustments for the first application of Circular 4/2017 of the Bank of Spain, to credit institutions ( DT 39 LIS)" on page 12 of form 200, the adjustments derived from the first application of Circular 4/2017:

  • In key [02129] entities must record the amount corresponding to the integration of the charges derived from that first application.

  • In key [02130] entities must record the amount corresponding to the integration of the payments derived from that first application.