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

To determine the taxable base for the liquidation of Corporate Tax (box [00552]), entities that apply the special regime for SOCIMI , will take into account the following specialties :

1. They must complete the corresponding sections on pages 12 and 13 of form 200 until they obtain the amount to be entered in box [00550] "Taxable base before the application of the capitalization reserve and compensation of negative tax bases" on page 13 of said form, in the same way as indicated in Chapter of this Manual for the general regime of Corporate Tax.

   The same procedure must be followed by 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 that in the tax period subject to declaration, must include income or tax adjustments to which the general regime and tax rate must be applied, for which said entity was taxed before applying the special regime for SOCIMIs.

2. Regarding the offset of negative tax bases from previous tax periods, the following must 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 base before the application of the capitalisation reserve and offsetting of negative tax bases" on page 13 of form 200, it may offset the negative tax bases from previous years.

      In this case, the amount recorded in box [00550] may be reduced by the amount corresponding to the tax bases that were pending compensation at the time when the entity began applying the special tax regime for SOCIMIs. This amount will be entered in box [00547] "Compensation of negative tax bases from previous periods" on page 13 of form 200, taking into account that this compensation cannot result in a negative amount.

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

   2. If the entity has not had to integrate income or make adjustments to those referred to above, relating to the tax regime prior to that of SOCIMIs, it will not be able to offset the negative tax bases pending at the time the entity begins to apply the special SOCIMI tax regime.

      Therefore, box [00552] "Taxable base" will have the same amount as box [00550] "Taxable base before application of the capitalization reserve and offsetting of negative tax bases", which will be the same amount to be included in box [00521] "Part of the taxable base that is taxed at the 0% tax rate" on page 14 of Form 200.

   Keep in mind:

   Entities that opt for the special SOCIMI regime that pay taxes at the tax rate of 0 percent, in the event of generating negative tax bases, may not apply the mechanism for offsetting bases provided for in article 26 of the LIS . This prohibition only affects the tax base to which the 0 percent rate is applicable. That is, in the event that there were positive incomes that were taxed in accordance with the general regime and at the general tax rate, the mechanism for compensating bases provided for in article 26 of the LIS would apply to said incomes.

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