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Form 200. Corporate Income Tax Declaration 2019

11.2.2.1 Impairment losses under Article 13.1 LIS and provisions and expenses (Article 14.1 and 14.2 LIS) referred to in Article 11.12 LIS (converted into quota)

According to the provisions of the Seventh Additional Provision of Law 20/1990, of December 19, on the Tax Regime of Cooperatives, the provisions for impairment of credits and other assets and certain provisions referred to in article 11.12 of the LIS , which have generated deferred tax assets, will be integrated into the positive total quota, based on the corresponding tax rate, with the limit of said quota without taking into account its integration or the compensation of negative quotas.

For these purposes, the cooperative society must record in these keys the adjustments that correspond to the application of the imputation criteria established in article 11.12 of the LIS with respect to provisions for impairment of credits or other assets derived from possible insolvencies of debtors not related to the taxpayer, not owed by public law entities and whose deductibility does not occur by application of the provisions of article 13.1.a) of this Law, as well as those derived from the application of sections 1 and 2 of article 14 of this Law, corresponding to provisions or contributions to social security systems and, where appropriate, early retirement, which have generated deferred tax assets, and to which the right established in article 130 of this Law applies.

Therefore, they must record at the quota level in key [00210] for increases, the amount corresponding to those losses due to impairment, provision or contribution made by the taxpayer that are considered accounting expenses in the period subject to declaration, but that are not tax deductible according to the provisions of articles 13.1 and 14.1 and 14.2 of the LIS.

However, when in a tax period subsequent to its recognition as an accounting expense:

  • If the circumstances established in articles 13.1 and 14.1 and 14.2 of the LIS occur and said accounting expense becomes tax deductible, the taxpayer must make a negative adjustment at the quota level in key [00480] for decreases.

  • If the impairment is reversed or the expense is recovered in accounting, the taxpayer must make a negative adjustment at the quota level in key [00480] to eliminate the accounting income recorded at that time.