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Practical Handbook for Companies 2021

Mining tax system

1.Mining and hydrocarbons:Depletion factor

Filling in form 200

Taxpayers who carry out activities that qualify for the tax regime for mining or the tax regime for the research and exploitation of hydrocarbons, under the terms established in Chapters VIII and IX of Title VII of the LIS, shall enter in the boxes [00381] and [00382] "Mining and hydrocarbons:exhaustion factor (arts.91 and 95 LIS)" from page 13 of Form 200, the following adjustments related to the depletion factor:

  • The amount of the amounts allocated as a depletion factor by taxpayers who carry out activities that qualify for the mining tax regime or the tax regime for hydrocarbon research and exploitation, in accordance with the provisions of articles 91 and 95 of the LIS, shall be entered in box [00382] as a reduction in the profit and loss account.

  • In the box [00381] as an increase in the accounting result, the amounts that reduced the taxable base due to the depletion factor and which, due to non-compliance with the requirements in accordance with the provisions of articles 94 and 97 of the LIS, must be included in the taxable base in the year being reported, shall be entered in the box [00381] as an increase in the accounting result.

    A tener en cuenta:

    In the case of cooperative societies, the content of the box [00381] should be transferred with a positive sign to the boxes [C11] and/or [E11] "Depletion factor" appearing on page 22 of form 200, depending on the cooperative or extra-cooperative nature of the adjustment to the accounting result.With the same criteria, the content of box [00382] should be transferred to the aforementioned boxes, in this case with a negative sign, as it is a reduction in the profit or loss in the profit and loss account.

2.Hydrocarbons:amortisation of intangible investments and research costs

With regard to the tax regime for hydrocarbon research and exploitation regulated in Chapter IX of Title VII of the LIS, in accordance with the provisions of article 99.1 of the LIS, intangible assets and research expenses incurred in current, expired or terminated permits and concessions will be considered as intangible assets from the moment they are incurred and may be amortised with a maximum annual rate of 50 per cent, and there will be no maximum amortisation period for them.

Filling in form 200

In application of the provisions of Article 99.1 of the LIS, the following adjustments must be made in boxes [00383] and [00384] "Hydrocarbons:amortisation of intangible investments and research expenses (art. 99 LIS)" from page 13 of form 200:

  • In the box [00384] of decreases, they must enter the excess of tax depreciation that, over the accounting depreciation, they have applied in the tax period being declared in relation to the intangible investments and research expenses referred to in the previous paragraph.

  • In the box [00383] of increases, the amount of the depreciation of these investments and expenses, accounted for in the tax period being declared whose tax deductibility has been applied in previous tax periods and in which the corresponding correction or negative adjustment has been made to the result of the profit and loss account.