11.2.2.2 Application of the limit of art. 11.12 LIS to the impairment losses of art. 13.1 LIS and provisions and expenses (art. 14.1 and 14.2 LIS)

In the case of cooperative societies, the Seventh Additional Provision of Law 20/1990, of December 19, on the Tax Regime of Cooperatives, establishes that the limit referred to in article 11.12 of the LIS in the integration of the provisions included in said precept, will refer to the positive integral quota without taking into account its integration or the compensation of negative quotas.

With effect for tax periods beginning on or after 1 January 2016, the fifteenth Additional Provision of the LIS establishes that taxpayers whose net turnover is at least 20 million euros during the 12 months prior to the date on which the tax period begins, will replace the limit established in article 11.12 of said regulation, with the following:

• 50 percent, when in the referred 12 months the net amount of the turnover is at least 20 million euros but less than 60 million euros.

• 25 percent, when the net turnover in the aforementioned 12 months is at least 60 million euros.

Likewise, with effect for the same period, the thirty-sixth transitional provision of the LIS establishes that for those taxpayers to whom the fifteenth Additional Provision of this regulation is not applicable, the limit established in article 11.12 of the LIS will be 60 percent.

Therefore, the cooperative society must record in code [00408] the amount of the total amount of these provisions (which will have been recorded in code [00210]) that exceeds the limit provided for in the positive integral quota.

However, the amount recorded in code [00408] that has not been deductible in the period subject to declaration due to the application of the limit, but that in the following tax period is considered deductible, must be recorded in code [01037].