Allocation of capital gains derived from affected elements received in years prior to 2002 to the tax benefit of deferral for reinvestment
Capital gains derived from taxable items accrued in fiscal years prior to 2002 which, through reinvestment of the amount obtained from the acquisition of taxable items, have benefited from deferred imputation and must be declared in the current fiscal year, will be included in the corresponding section of heading F2 of the declaration, regardless of the original generation period of the capital gain obtained at the time.
For these purposes, in accordance with the regulations in force as of December 31, 2001 (article 21 of Law 43/1995, of December 27, on Corporation Tax and article 34 of the Corporation Tax Regulations, approved by Royal Decree 537/1997, of April 14), the amount of profits not included in the tax base of the year in which they were accrued will be incorporated in the general part of the tax base of the tax period in which the assets in which the reinvestment takes place are amortized, provided that they are amortizable assets.
In this case, the profit that proportionally corresponds to the amount of the amortization of the assets in relation to their acquisition value or production cost will be integrated into the general part of the tax base of each tax period.
The amount of the amortization will be the amount that must be considered tax deductible, and cannot be less than the result of applying the coefficient resulting from the maximum amortization period established in the officially approved amortization tables.
In the event that the net income of the activity is determined using the objective estimation method, the maximum period established in the officially approved amortization tables must be taken as the amortization period for these purposes.