Non deductible expenses
The article 15 of the LIS lists a series of accounting expenses that are not considered tax deductible, so adjustments to the accounting result will be necessary as detailed below:
- Non-deductible expenses due to being considered payment from shareholders’ equity
- Expenditure derived from accounting Corporation Tax
- Fines, penalties and other
- Game losses
- Expenditure on donations and gifts
- Expenditure on activities contrary to the legal system
- Transactions with non-cooperative jurisdictions
- Financial expenditure arising from debts with entities in the group
- Expenditure arising from the expiry of an employment or trade relationship
- Hybrid asymmetries
- Impairment losses on securities representing shares in the capital or equity of companies
- Loss of value caused by fair value criteria
- Tax debt on documented legal acts (Transfer Tax and Stamp Duty)
- Expenditure eligible for deduction for investments made by port authorities
- Limitation of the deductibility of financial expenses