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Practical Manual for Companies 2020.

Mining tax system

1. Mining and hydrocarbons: Exhaustion factor

Filling in form 200

Taxpayers who carry out activities for which they may be eligible for the mining tax regime or the hydrocarbon research and exploitation tax regime, in the terms established in Chapters VIII and IX of of the , will complete boxes [00381] and [ ] Mining and hydrocarbons: exhaustion factor (arts. 91 and 95 LIS)» on page 13 of form 200, the following adjustments related to the depletion factor:

  • The amount of the sums allocated as a depletion factor those taxpayers who carry out activities for which they may be eligible for the mining tax regime or the hydrocarbon research and exploitation tax regime, in accordance with the provisions of articles 91 and 95 of the LIS, will be recorded in box ##1## as a decrease in the profit and loss account result.

  • The amounts that at one time reduced the tax base by depletion factor and that due to non-compliance with the requirements in accordance with the provisions of articles 94 and of the LIS, must be integrated into the tax in the fiscal year being declared, will be recorded in box as an increase in the accounting result.

    Keep in mind:

    In the case of cooperative societies , the contents of box [00381] must be transferred with a positive sign to boxes [C11] and/or [E11] appearing on page 22 of form 200, depending on the cooperative or non-cooperative nature of the correction to the accounting result. Using the same criteria, the contents of box [00382] must be transferred to the aforementioned boxes, in this case with a negative sign, as it is a decrease in the result of the profit and loss account.

2. Hydrocarbons: Amortization of intangible investments and research expenses

Regarding the tax regime for hydrocarbon research and exploitation regulated in Chapter IX of Title VII of the LIS, in accordance with the provisions of article 99.1 of the LIS , intangible assets and research expenses incurred on current, expired or extinguished permits and concessions will be considered as intangible assets, from the moment of their realization and may be amortized with a maximum annual fee of 50 percent , and there will be no maximum amortization period for them.

Filling in form 200

In application of the provisions of article 99.1 of the LIS, the entities covered by this special regime must make the following adjustments in the boxes [00383] and [00384] "Hydrocarbons: amortization of intangible investments and research expenses (art. 99 LIS)» on page 13 of form 200:

  • In box [00384] of decreases you must record the excess of tax amortization that, over the accounting amortization, you have applied in the tax period subject to declaration in relation to the intangible investments and research expenses referred to in the previous paragraph.

  • In box [00383] of increases, you must record the amount of the amortization of said investments and expenses, recorded in the tax period subject to declaration whose tax deductibility has been applied in previous tax periods and in which the corresponding correction or negative adjustment has been made to the result of the profit and loss account.