4.2.74 Codes 00389 and 00390 partially exempt entities regime (Chapter XIV, Title VII LIS)
In keys [00389] (increases) and [00390] (decreases), the taxpayers of the Corporate Tax to whom the special tax regime established in Chapter XIV of Title VII of the Corporate Tax Law is applicable (see the list of taxpayers in the content of key [00002]), will record, completing, where appropriate, their corresponding breakdown boxes, the corrections to the accounting result that arise as a consequence of the specific application thereof.
Thus, in key [00390] (decreases), they will include the income obtained in the tax period that, by application of the provisions of the aforementioned regulations, are exempt from taxation or that should not be computed for the determination of the taxable base of the tax.
Among this type of income, the following should be mentioned:
-
Those arising from the performance of activities that constitute its corporate purpose or specific purpose, provided that they are not considered economic activities.
-
Those derived from acquisitions and transfers for profit, provided that both are obtained or carried out in compliance with their corporate purpose or specific objective.
-
Those that are revealed in the onerous transfer of assets affected by the realization of the corporate purpose or specific purpose when the total proceeds obtained are destined to new investments related to said corporate purpose or specific purpose.
New investments must be made within the period between the year prior to the date of delivery or provision of the asset and the three years thereafter and remain in the entity's assets for 7 years, unless their useful life according to the amortization method, of those admitted in article 12.1 of the LIS , which is applied, is less.
In none of the three previous cases will the correction be made for the decrease in the accounting result using key [00390] when it concerns returns from economic operations, or income derived from assets, or income obtained from transfers other than those indicated above.
In key [00389] (increases), you will include non-deductible items for determining taxable income. These non-deductible items, in addition to those established by the general regulations of the Corporate Tax, are the following:
-
Expenses attributable exclusively to exempt income. Expenses partially attributable to non-exempt income will be deductible in the percentage that the income obtained in the year of non-exempt economic operations represents with respect to the total income of the entity.
-
Amounts that constitute the application of results and, in particular, those that are used to support exempt activities.