4.2.35 Codes 01009 and 01010 expenses corresponding to operations carried out with related persons or entities (Article 15 j) LIS)

In accordance with the provisions of article 15 j) of the LIS , expenses corresponding to operations carried out with related persons or entities that, as a result of a different tax classification in these, do not generate income or generate income that is exempt or subject to a nominal tax rate of less than 10 percent will not be tax-deductible.

For these purposes, in the tax period in which the aforementioned non-tax-deductible expenses are recorded, an adjustment must be made to the accounting result in key [01009] for increases, completing, where appropriate, the corresponding breakdown boxes.

However, even if the conditions set out in said article are met, if in subsequent tax periods the taxpayer proves that there are valid economic reasons for carrying out said operations, said financial expenses will be considered tax deductible, and therefore a negative adjustment must be made in the [01010] key for decreases, completing, where appropriate, the corresponding breakdown boxes.