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Form 200. Corporate Income Tax Declaration 2019

4.2.46 Keys 01015 and 01016 effects of accounting valuation other than tax (Article 20 LIS)

Article 20 of the LIS establishes that when an asset or a service has a different accounting and tax valuation, the entity acquiring the former will include the difference between the two in its tax base, as follows:

  1. In the case of assets that are part of current assets, in the tax period in which they give rise to the accrual of income or expense.

  2. In the case of non-depreciable assets that are part of fixed assets, in the tax period in which they are transferred or derecognized.

  3. In the case of depreciable assets that are part of fixed assets, in the tax periods that remain of their useful life, applying to the aforementioned difference the depreciation method used with respect to the aforementioned assets, unless they are previously transferred or disposed of, in which case, they will be integrated on the occasion of the same.

  4. In the case of services, in the tax period in which they are received, except when their amount must be incorporated into an asset, in which case the provisions of the preceding paragraphs shall apply.

In application of the provisions of this precept, in the tax period in which the acquiring entity of an asset or a service has a different accounting and tax valuation, it must integrate the difference between both values into these keys, completing, where appropriate, their corresponding breakdown boxes.