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Form 200. Corporate Income Tax Declaration 2019

4.2.19 Codes 00325 and 00326 adjustments for losses due to impairment of values representing participation in the capital or own funds (Article 13.2 b) LIS)

According to the provisions of letter b) of section 2 of article 13 of the LIS , losses due to impairment of values representing participation in the capital or funds will not be tax deductible. own entities.

For tax periods beginning on or after January 1, 2017, RDL 3/2016, of December 2, which adopts measures in the tax field aimed at consolidation of public finances and other urgent measures in social matters, modifies article 13.2 b) of the LIS.

Although the modification introduced by RDL 3/2016 maintains the non-deductibility of these impairment losses, it regulates it in two different articles, the aforementioned article 13.2 b) and the new article 15 k. ) of the LIS, taking into account compliance with a series of requirements in the tax period in which the impairment is recorded.

Thus, article 13.2 b) of the LIS establishes that losses due to impairment of securities representing participation in the capital or equity of entities will not be deductible when, in the tax period in which the impairment is recorded, any of the following circumstances:

  • The requirement established in article 21.1 a) of the LIS is not met. This requirement is that the percentage of participation, direct or indirect, in the capital or own funds of the entity is at least 5 percent or that the acquisition value of the participation is greater than 20 million euros. In addition, it is required that the participation must be held continuously for at least 1 year, and

  • That in the case of participation in the capital or equity of entities not resident in Spanish territory, in said tax period the requirement established in article 21.1 b) of the LIS is also met, that is, that the entity has been subject to and not exempt from a foreign tax of an identical or analogous nature to this Tax at a nominal rate of at least 10%.

Therefore, in application of the provisions of article 13.2 b) of the LIS, the taxpayer must include in the increase code [00325] and, where applicable, in its corresponding breakdown boxes the amount of losses due to impairment of the values representing participation in the capital or equity of entities accounted for in the tax period being declared, which are not deductible by application of article 13.2 b) of the LIS.

However, in accordance with the provisions of article 20 of the LIS, these impairment losses will be deductible in the tax period in which the participation is transferred or deregistered, provided that the indicated requirements are met during the year prior to that the transmission or deletion of the participation occurs.

In these cases, the taxpayer in the tax period following the accounting of the aforementioned impairment losses that caused a positive adjustment to the accounting result (key [00325]) because they are not tax deductible, must include in the key [00326] decreases and, where applicable, in their corresponding breakdown boxes, the amount corresponding to said deterioration as a consequence of its reversal.