1. Operating income
This consideration includes all of the full income derived from the sale of goods or services that constitute the object of the activity, including, where appropriate, income from services ancillary to the main activity.
See registration and valuation standard 14 of the General Accounting Plan, approved by Royal Decree 1514/2007, of November 16 (BOE of 20), dedicated to income from sales and provision of services.
In accordance with said standard, income from the sale of goods and the provision of services will be valued by the fair value of the consideration , received or to be received, derived from them, which , unless there is evidence to the contrary, it will be the agreed price for said goods or services, deducting the amount of any discount, price reduction or other similar items that the company may grant, as well as the interest incorporated into the nominal value of the credits. However, interest incorporated into commercial credits with a maturity of no more than one year that do not have a contractual interest rate may be included, when the effect of not updating cash flows is not significant.
The taxes that levy the operations of sale of goods and provision of services that the company must pass on to third parties, such as Value Added Tax and Special Taxes, as well as the amounts received on behalf of third parties, will not form part of the income .
When there is consideration and it is significantly lower than the market value of the goods sold and the services provided, their valuation will be carried out at their normal market value.
In economic operations carried out with a company with which there are related relationships in the terms provided for in article 18 of the LIS , the operations between related persons or entities will be valued at their value. of market. Market value will be understood as that which would have been agreed upon by independent persons or entities under conditions that respect the principle of free competition.
In these cases, the owner of the activity must comply with the documentation obligations for related-party transactions in the terms and conditions established in Chapter V of Title I (articles 13 to 16) of the Corporate Tax Regulations, approved by Royal Decree 634/ 2015, of July 10 ( BOE of 11).
Related persons or entities:
To determine when there is a link, the provisions of article 18.2 of Law 27/2014, of November 27, on Corporate Tax ( BOE of 28), in which The following are considered persons or related entities:
- An entity and its partners or participants.
- An entity and its directors or administrators, except as regards remuneration for the exercise of their functions.
- An entity and the spouses or people united by family relations, in a direct or collateral line, by consanguinity or affinity up to the third degree of partners or participants, directors or administrators.
- An entity and the directors or administrators of another entity, when both entities belong to a group.
In cases in which the relationship is defined based on the relationship of the partners or participants with the entity, the participation must be equal to or greater than 25 percent. The mention of administrators will include those in law and those in fact. In cases in which the relationship is not defined based on the partner or participant-entity relationship, the percentage of participation to be considered will be 25 percent.
In these cases, the taxpayer of Personal Income Tax must comply with the documentation obligations of the related-party transactions in the terms and conditions established in Chapter V (articles 13 to 16) of the Corporate Tax Regulations. , approved by Royal Decree 634/2015, of July 10 ( BOE of 11).