4.2.60 Codes 00184 and 00544 temporary union of companies (UTE), adjustments for exempt income of UTE that operates abroad (Article 45.2 LIS)

In the case of a temporary union of companies that, having taken advantage of the exemption regime provided for in article 50 of the Consolidated Text of the Corporate Tax Law approved by RDLeg. 4/2004, according to current wording for tax periods beginning before January 1, 2015, would have obtained net negative income abroad that would have been integrated into the tax base of the member entities in tax periods beginning before January 1 2013, when in successive years the temporary union obtains positive income, the member companies will integrate into their tax base, on a positive basis, the negative income previously imputed, with the limit of the amount of said positive income.

In accordance with the provisions of the sixteenth transitional provision of the LIS , when in successive years the temporary union obtains positive income, the member companies will integrate into the key [00184], of increases, the previously imputed negative income, with the limit of the amount of said positive income.

According to the provisions of section 2 of article 45 of the LIS, member companies of a temporary union of companies that operate abroad may benefit from the exemption provided for in article 22 of the LIS or to the deduction for double taxation provided for in article 31 of said Law, provided that the requirements established therein are met.

In this sense, when it comes to adjustments corresponding to the exemption of article 22 of the LIS, they will not be included in these keys. They will be included in codes [00256] and [00278] relating to exemption from income abroad (article 22 of the LIS).