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Practical Income Manual 2021.

General tax imputation criterion: accrual principle

Regulations: Arts.14.1b) Law Personal Income Tax and 7 Regulations; 11.1 and 3.1. LIS

The Personal Income Tax Law establishes as a basic inspiring principle in this matter the reference to the regulations governing Corporate Tax, without prejudice to certain specialties contained in the Tax Regulation itself.

In accordance with article 11.1 of IS , the general criterion of tax imputation is constituted by the accrual principle, according to which the income and expenses derived from transactions or economic events will be attributed to the tax period in which its accrual occurs, in accordance with accounting regulations, regardless of the date of its payment or collection, respecting the due correlation between them.