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Form 200. Corporate Income Tax Declaration 2019

4.2.7 Keys 00303 and 00304 differences between accounting and tax amortization (Article 12.1 LIS).

When the accounting amortization carried out in the fiscal year by the taxpayer for any of the concepts referred to in article 12.1 of the LIS is greater than the tax-admissible amortization as established in said sections, the amount of this difference must be recorded in the excess in key [00303] of increases and, where applicable, in its corresponding breakdown boxes. Likewise, when the element is amortized in the accounting records in subsequent tax periods, the amount of said difference must be recorded in key [00304] of decreases and, where applicable, in its corresponding breakdown boxes, as a result of the reversal of the positive adjustment, based on tax amortization.

And in the event that the admissible tax amortization is greater than the accounting amortization made by the taxpayer for the aforementioned concepts (and it is not the case of an accounting error), the amount of the corresponding difference must be recorded in the [00304] reduction key. Likewise, when the element is fiscally amortized in subsequent tax periods, the amount of said difference must be recorded in key [00303] of increases, as a consequence of the reversal of the negative adjustment, based on the accounting amortization.

Article 12.1 of the LIS establishes that the amounts that, in the concept of amortization of tangible and intangible fixed assets and real estate investments, correspond to the effective depreciation suffered by the different elements due to operation, use, enjoyment or obsolescence, are deductible.

And depreciation will be considered effective when:

  1. Let it be the result of applying the linear amortization coefficients established in the officially approved amortization tables.

  2. Let it be the result of applying a certain constant percentage on the pending amortization value. The constant percentage may not be less than 11 percent.

    Buildings, furniture and fixtures may not be subject to depreciation using a constant percentage.

  3. Let be the result of applying the method of digit numbers. This method is not acceptable for buildings, furniture and fixtures.

  4. It is calculated according to a scheme formulated by the taxpayer and accepted by the Tax Agency.

  5. The taxpayer can provide an acceptable justification for the amount.