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Practical Handbook for Companies 2021

Calculation of the taxable base (pages 12 and 13 of Form 200)

In order to determine the taxable base for corporate income tax purposes (box [00552]), entities applying the special regime for SOCIMIs , shall take into account the following special features :

  1. The corresponding sections on pages 12 and 13 of form 200 should be completed until the amount to be entered in box [00550] "Taxable income before application of the capitalisation reserve and offsetting of tax losses" on page 13 of said form is obtained, in the same way as indicated in Chapter 5 of this Manual for the general corporate income tax system.

    The same applies to any entity that is in any of the cases referred to in letters a) and c) of Article 12.1 of Law 11/2009 and which, in the tax period being reported, must include income or tax adjustments to which the general regime and tax rate must be applied, for which the entity was taxed before applying the special regime for SOCIMIs.

  2. With regard to the offsetting of tax losses from previous tax periods, the following should be taken into account:

    1. If the entity has had to include any of the amounts relating to letters a) and c) of Article 12.1 of Law 11/2009 in the calculation of box [00550] "Taxable income before application of the capitalisation reserve and offsetting of tax losses" on page 13 of Form 200, it may offset tax losses from previous years.

      In this case, the amount shown in box [00550] may be reduced by the amount corresponding to the tax bases that were pending offset at the time the entity began to apply the special tax regime for SOCIMIs.This amount shall be entered in the box [00547] "Compensation of negative tax bases for previous periods" on page 13 of form 200, bearing in mind that this compensation cannot result in a negative amount.

      Furthermore, in these cases in which the entity has had to include any of the aforementioned income or tax adjustments, the amount to be entered in the box [00520] "Part of the tax base for the tax period taxed at the general rate" on page 14 of form 200, will be the result of subtracting from the amount in the box [00550] the amount in the box [00547] for the compensation mentioned in the previous paragraph.

    2. If the entity has not had to integrate income or make any of the adjustments referred to above, relating to the tax regime prior to the SOCIMI tax regime, cannot offset the tax losses pending at the time the entity began to apply the special SOCIMI tax regime.

      Therefore, the box [00552] "Taxable income", will have the same amount as the box [00550] "Taxable income before application of the capitalisation reserve and offsetting of tax losses", and which will be the same amount to be included in the box [00521] "Part of the taxable income taxed at 0% tax rate" on page 14 of form 200.

    A tener en cuenta:

    Entities opting for the special SOCIMI regime that pay tax at the rate of 0 percent, in the event of generating tax losses, may not apply the mechanism for offsetting tax losses provided for in Article 26 of the LIS. This prohibition applies only to the tax base to which the 0 percent rate is applicable.In other words, in the event that there is positive income that is taxed under the general system and at the general tax rate, the mechanism for offsetting tax bases provided for in Article 26 of the LIS would be applicable to such income.

  3. Consequently, the amount to be entered in the box [00552] "Taxable Base" will be the sum of the amounts entered in the boxes [00520] "Part of the taxable base of the tax period taxed at the general rate" and [00521] "Part of the taxable base taxed at the 0% tax rate".