Skip to main content
Practical Handbook for Companies 2021

Adjustments arising from the application of the special system (page 13 of form 200)

Entities that have availed themselves of the special tax regime for shipping entities based on the tonnage regulated in Chapter XVI of Title VII of the LIS, shall calculate the part of the tax base corresponding to the operation, ownership and, where applicable, technical and crew management, of the vessels included in the regime, by applying the rules contained in Article 114 of the LIS.These rules involve, in summary, the application of a scale to the number of net registered tonnes of each vessel, which will replace the operating result of these vessels.It will therefore be necessary to adjust the profit and loss account to eliminate from the profit and loss account the part deriving from the activities covered by the special regime.

For this purpose, these entities shall make the following adjustments in boxes [00397] and [00398] "Regime for shipping entities according to tonnage (Chapter XVI of Title VII LIS)" on page 13 of form 200:

  • If the part of the result of the profit and loss account that derives from the activities under the special regime is negative , its amount shall be entered in the box [00397] of increases.

  • If, on the other hand, it is positive, it should be entered in box [00398] of decreases.