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Practical Handbook for Companies 2021

Tax adjustments for applying the levelling reserve (boxes 01033 and 01034)

Small entities applying this tax incentive must make the following adjustments in boxes [01033] and [01034] "Equalisation reserve" on page 13 of form 200:

  • In the tax period in which the entity reduces by 10 percent of its positive taxable base, must make a negative adjustment in the box [01034] for the amount of this reduction, taking into account the maximum reduction limit of 1 million euros.

  • These entities must reverse this negative adjustment by entering in the box [01033] of increases, the amount of the reduced amounts that they add in the tax periods ending in the 5 years immediately following the tax period in which the reduction was made, provided that the tax base is negative and for the amount of the same.

    A tener en cuenta:

    In the event that, within the next five years, these entities have not generated sufficient tax losses for the full reversal of the negative adjustment made in the initial tax period, must add the remaining amount to their taxable income in the last tax period corresponding to the five-year period.