4.2.20 Codes 01518 and 00394 adjustments for impairment of securities representing shares in capital or own funds (DT 16ª.1 and 2 LIS)

Sections 1 and 2 of the sixteenth transitional provision of the LIS include a transitional regime in relation to the reversal of losses due to impairment of securities representative of participation in the capital or equity of entities, generated in tax periods beginning prior to January 1, 2013.

For these purposes, section 1 of said provision establishes that the reversal of losses due to impairment of securities representing participation in the capital or equity of entities that were tax deductible in tax periods beginning prior to January 1 of 2013 in accordance with the provisions of article 12.3 of RDLeg . 4/2004, regardless of its accounting allocation in the profit and loss account, will be integrated into the tax base of the period in which the value of the own funds at the end of the year exceeds that at the beginning, in proportion to its participation, contributions or refunds of contributions made in it must be taken into account, with the limit of said excess.

Therefore, if the value is recovered, the taxpayer must make a positive adjustment in the accounting result in the tax period in which the reversal of the aforementioned difference occurs, entering said amount in the code [01518] and, in if applicable, in their corresponding breakdown boxes. Likewise, the taxpayer must proceed in the same way with respect to the integration into the tax base of the aforementioned impairment losses, for the amount of the dividends or participation in profits received from the investee entities, except that said distribution does not have the status of accounting income. .

Finally, it must be taken into account that the corrections established in this section cannot be made with respect to those losses due to impairment of the value of the participation that are determined by the distribution of dividends or participation in profits and that have not given rise to the application of the deduction for internal double taxation or that the aforementioned losses have not been tax deductible within the scope of the deduction for international double taxation.

Likewise, section 2 of the sixteenth transitional provision of the LIS establishes that the reversal of losses due to deterioration of securities representing participation in the capital or equity of entities listed on a regulated market to which there is no result of application of article 12.3 of the RDLeg. 4/2004, in tax periods beginning before January 1, 2013, will be integrated into the corporate tax base of the tax period in which the recovery of its value occurs in the accounting field.

For these purposes, if the value is recovered, the taxpayer must make a positive adjustment to the accounting result, entering the amount of said recovery in key [01518].