2. Refund of amounts derived from loan interest rate limitation clauses (floor clauses) that would have been considered a deductible expense in previous years

Regulations: Additional Provision forty-fifth Law IRPF

The return, in cash or through other compensation measures, of amounts previously paid to financial institutions as interest for the application of clauses limiting interest rates on loans (the - floor clause), together with their corresponding compensatory interest, arising from agreements entered into with financial institutions as well as from compliance with judgments or arbitration awards, will not be included in the tax base of ##1## IRPF ##1##.

For a detailed commentary on the " floor clauses " see Chapter 2.

When such amounts subject to refund have been included in declarations from previous years as deductible expenses, they will lose such consideration and a complementary self-assessment corresponding to such years must be carried out, without penalty, late payment interest, or any surcharge within the period between the date of the agreement and the end of the next period for filing self-assessments for the IRPF .

This adjustment will only affect the years for which the Administration's right to determine the tax debt through the appropriate liquidation has not expired.

However, if the amounts are derived from the application of floor clauses that were paid by the taxpayer in 2023 and the agreement to repay them with the financial institution or as a result of a court ruling or arbitration award occurs before the end of the deadline for filing the self-assessment of the IRPF of 2023 (July 1, 2024), they will not be taken into account as a deductible expense in that year.

Note: If the supplementary declaration responds to this circumstance, the taxpayer must mark with an "X" the box [109] of the "Supplementary declaration" section of the declaration.