Transitional scheme

1. Assumption of DT 16.1 of LIS

This provision establishes that the reversal of losses due to impairment of securities representing participation in the capital or equity of entities that were tax deductible in tax periods beginning before January 1, 2013 in accordance with the provisions of article 12.3 of RDLeg. 4/2004, regardless of its accounting entry in the profit and loss account, will be included in the tax base of the period in which the value of the equity at the end of the year exceeds that at the beginning, in proportion to its participation, taking into account the contributions or returns of contributions made in it, with the limit of said excess .

Filling in form 200

In application of the provisions of this section on page 12 of form 200:

If the recovery of the value occurs, the entity must make a positive adjustment to the accounting result in the tax period in which the reversal of the aforementioned difference occurs, recording said amount in box [01518] .

The entity must proceed in the same way with respect to the integration into the tax base of the aforementioned impairment losses, for the amount of dividends or profit shares received from the participating entities, except when said distribution does not have the status of accounting income.

2. Assumption of DT 16.2 of the LIS

This provision establishes that the reversal of losses due to impairment of securities representing participation in the capital or equity of entities listed on a regulated market to which article 12.3 of the RDLeg has not been applied. 4/2004, in tax periods beginning before January 1, 2013, it will be included in the taxable base of the Corporate Tax of the tax period in which the recovery of its value in the accounting field occurs.

Filling in form 200

Therefore, if the value of these holdings is recovered in the accounting field in tax periods beginning on or after January 1, 2015 , the entity must make a positive adjustment, recording in box [01518] the difference between the accounting reversal and the tax reversal.

3. Assumption of DT 16.3 of the LIS

For periods beginning on or after 1 January 2016 section 3 of the sixteenth transitional provision of the LIS establishes special applicable to the reversal of impairment losses on securities representing participation in the capital or equity of entities, which were tax deductible in tax periods beginning before 1 January 2013.

For these purposes, said reversal will be integrated, at least, in equal parts in the taxable base corresponding to each of the five tax periods beginning on after January 1, 2016.

In cases where a higher amount is reversed by application of the provisions of sections 1 and 2 of the sixteenth transitional provision of the LIS, the balance remaining by application of the provisions of section 3 of said provision shall be integrated, as a minimum, in equal parts between the remaining tax periods.

However, in the event that the transfer of securities representing participation in the capital or equity of entities occurs during the aforementioned tax periods, the amounts pending reversal will be integrated into the tax base of the tax period in which it occurs, with the limit of the positive income derived from that transfer .

Filling in form 200

Therefore, in application of the provisions of this section 3, the taxpayer must make the following adjustments in boxes [00333] and [00334] "Adjustments for impairment losses on securities representing equity interests or equity (DT 16 3 LIS)" ## on page 12 of form 200:

• The entity during the five tax periods beginning on or after January , must include in box [00333] of increases the tax correction calculated according to the special rules established in the aforementioned section .

• In the case of alienation of the participation , the adjustment to be declared in the boxes [00333] and [00334] , will be the difference between the accounting reversal as the highest result in the alienation of the participation, and the fiscal reversal.