4.2.37 Keys 01808 and 01812 decrease in value caused by the fair value criterion (Article 15 l) LIS)

For tax periods beginning on or after 1 January 2017, RDL 3/2016, of 2 December, by which measures are adopted in the tax field aimed at the consolidation of public finances and other urgent measures in social matters, introduces in the new article 15 l) of the LIS an exception to the general rule established by article 17.1 of said Law, according to which changes in value arising from the application of the fair value criterion will not have tax effects until they are charged to the profit and loss account.

For these purposes, article 15 l) of the LIS establishes that decreases in value arising from the application of the fair value criterion corresponding to securities representing participations in the capital or equity of entities that meet the requirements of article 15 k) of said Law, which are recorded in the profit and loss account, will not be deductible, unless, previously, an increase in value corresponding to homogeneous securities of the same amount has been integrated into the tax base, where appropriate.

Consequently, the taxpayer must include in the key [01808] of increases, complete or, where applicable, fill in the corresponding breakdown boxes, the amount of the decreases in value originated by the application of the fair value criterion corresponding to securities representing the participations in the capital or in the equity of entities that meet the aforementioned requirements.