Tax system for certain leasing contracts

In article 106 of the LIS a special tax regime is established for certain financial leasing contracts, in which with the conditions and requirements provided for in The assignee is allowed accelerated tax amortization of the assets that are the subject of said contracts, without the need for their accounting allocation to the profit and loss account.

Filling in form 200

Taxpayers covered by this special regime must make the following adjustments in boxes [00317] and [00318] «Financial lease: special regime (art. 106 LIS) » on page 13 of model 200:

• The application of this special regime means for the transferee covered by it a faster tax amortization of the element and, therefore, a greater tax than accounting expense, the difference of which must be recorded in the box [00318] of decreases, in the reporting period.

• In subsequent tax periods, said amounts will revert as a higher accounting expense than tax, to be entered in box [00317] of increases, once the element is fully amortized from a tax point of view, or as greater tax income in the event of disposal, deterioration, loss or permanent unusability of the element, unless in the latter case it is due to a cause not attributable to the taxpayer and duly justified.