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Practical Handbook for Companies 2021

Cooperative income corresponding to reversal of impairment (at tax payable level) (Transitional provision 16.8 of the LIS)

Regulation:Transitional provision 16.8 LIS

Cooperative societies must convert to the amount relating to the income corresponding to the reversal of impairment losses of securities representing holdings in the capital or equity of entities generated in tax periods commencing prior to 1 January 2013, which are not taken into account in the application of the limitation on the offsetting of tax losses established in article 26.1 of the LIS under the terms established in section 8 of the sixteenth transitional provision of the LIS.

Filling in form 200

Cooperative societies must enter in the box [01510] "Income corresponding to the reversal of cooperative impairments (at quota level) (DT 16ª.8 LIS)" on page 14 of form 200, the amount resulting from applying to the income corresponding to the reversal of impairments according to section 8 of the sixteenth transitional provision of the LIS, the average tax rate at which these cooperative societies are taxed.