Skip to main content
Practical Handbook for Companies 2021

Completion of the table "Limiting the deductibility of financial expenses" (page 20 of Form 200)

In addition to make adjustments that correspond to the application of the limitation on the deductibility of financial expenses, taxpayers must fill in the three sections of this box on page 20 of form 200 in the form that is explained below.

A tener en cuenta:

The entities that pay tax under the tax consolidation regime and, therefore, have ticked the boxes [00009] and [00010] on page 1 of form 200, must fill in the data referring to the boxes [00363] and [00364] "Adjustments for the limitation on deductibility of financial expenses (art. 16 LIS)" on page 12 of form 200 mentioned above, but not the data on page 20 of form 200, which must be included on the corresponding pages of form 220.

1.Limitation on the deductibility of financial expenses.Art. 16 LIS (excluding those referred to in Art. 15 g), h) and 15 bis LIS)

This section details in boxes [01240] to [01259] the different items classified in letters a) to m) that the entity must complete, where applicable, in application of the different rules on the limitation on the deductibility of financial expenses established in article 16 of the LIS.

All these concepts, which in some cases involve arithmetic operations, are divided in this section into two blocks:one, which corresponds to the application of the additional limit established for financial expenses derived from debts intended for the acquisition of shares in the capital or own funds of any type of entity established in Articles 16.5 and/or 83 of the LIS (boxes [01240] to [01244]);and the other, which refers to the application of the limit established for net financial expenses regulated in Article 16.1 and 2 of the LIS (boxes [01245] to [01259]).

A tener en cuenta:

If the net financial expenses deductible in the period (generated in the period itself and in previous periods applied) are less than 30 per cent of [i1+i2+i3+i4+i5], and less than 1.000.000 € the amount to be entered in box [01249] is 30 per cent of [a-b-c-d + e] and if they are more than 1.000.000 € the amount to be entered in box [01249] is the greater of 30 per cent of [i1+i2+i3+i4+i5] or 1.000.000 €.

The limit of €1,000,000 is to be apportioned, where appropriate, according to the number of days in the tax period in respect of the year.

En cuanto a la casilla [01248], si los ingresos financieros del período impositivo derivados de la cesión de capitales propios (casilla [01247]) son superiores a los gastos financieros del período impositivo excluidos aquellos a que se refieren las letras g) y h) del artículo 15 y el artículo 15 bis de la LIS, a los gastos financieros del período impositivo no afectados por el artículo 16.5 y 83 de la LIS, a los gastos financieros del período impositivo derivados de deudas por adquisición de participaciones afectados por los artículos 16.5 y 83 de la LIS y a los gastos financieros netos del período no deducibles por aplicación del límite de los artículos 16.5 y 83 de la LIS (casillas [01246], [01245], [01240] y [01243], respectivamente), el importe a consignar en la casilla [01248] es cero.

2.Limitation on the deductibility of financial expenses.Financial expenses to be deducted

In this section, the entity shall state:

  • In the column "Pending implementation at the beginning of the period.By limit 16.5 and 83 LIS", this should include the financial expenses derived from debts intended for the acquisition of shares in the capital or equity of any type of entities generated in the tax periods corresponding to 2015, 2016, 2017, 2018, 2019 and 2020 respectively, and which at the beginning of the tax period being reported, are pending deduction due to the application of the limitation regulated in articles 16.5 and 83 of the LIS.

    The rows corresponding to the years 2012, 2013, 2014 and 2021(**) for the generation of financial expenses pending application shall remain closed for the tax period 2021, and therefore do not need to be completed.

  • In the column "Pending implementation at the beginning of the period.Rest", the entity must include the net financial expenses generated in the tax periods 2012 to 2020, and which at the beginning of the tax period being reported are pending deduction due to the application of the limit established in article 16.1 of the LIS;as well as the financial expenses derived from debts intended for the acquisition of shares in the capital or equity of any type of entity generated in those periods which, complying with the limit established in articles 16.5 and 83 of the LIS, were not deductible in previous tax periods due to the application of the limit established in article 16.1 of the aforementioned regulation.

    The "row 2021(**)" for the generation of the financial expenses to be applied, will remain closed for the tax period 2021, so it should not be filled in.

    In boxes [01188], [01193], [01198], [01203], [01463], [01737], [01978], [02254] and [02400], the entity shall enter the financial expenses generated in the tax periods corresponding to 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019 and 2020 respectively, which are pending deduction in the period being reported in accordance with the above paragraph.

  • In the column "Applied in this settlement", the entity shall enter the amount of the financial expenses generated in the tax periods 2012 to 2020 pending deduction included in the column "Pending application at the beginning of the period", applied in the tax period being reported.

  • In the column "Pending implementation in future periods.Per limit 16.5 and 83 LIS", the entity shall recognise the finance costs pending application in future tax periods generated, as set out above, in the tax periods 2015 to 2020, respectively.

    The rows corresponding to the financial years 2012, 2013 and 2014 for the generation of financial expenses pending application will remain closed for the tax period 2021, so they should not be completed.

  • In the column "Pending implementation in future periods.Rest" will include the net financial expenses pending deduction in future tax periods, which have not been deductible in the tax periods 2012 to 2020 by application of the limit established in article 16.1 of the LIS, and, likewise, the financial expenses derived from debts intended for the acquisition of shares in the capital or equity of any type of entity, which, complying with the limit of articles 16.5 and 83 of the LIS, are pending deduction by application of the limit established in article 16.1 of said regulation.

Note common to the completion of this section 2:

This item is only to be completed when amounts corresponding to the excess of operating profit limits from previous years are applied in the financial year, or when an amount is to be shown in the column for excesses over the operating profit limit to be applied in future periods.

The "row 2021(*)" shall only be completed when the entity has net financial expenses pending application in future tax periods, which have been incurred in another tax period starting in 2021, but less than 12 months and prior to the one reported.

The "row 2021(**)" shall only be completed when the entity has outstanding interest expense to be applied in future tax periods, accrued in the tax period itself, deductible in future tax periods.

3.To be added due to unimplemented operating profit ceiling

The amounts to be included in this section on page 20 of form 200 will be those which in each and every case correspond to the difference between the limit established in section 1 of article 16 of the LIS and the net financial expenses referred to in section 2 of that article and in accordance with the provisions of the latter section:

  • In the column "Amount generated.Pending application at the beginning of the period", the entity shall disclose the amount generated in the tax periods 2016 to 2020, which is pending application at the beginning of the tax period being reported.

  • In the column "Applied in this settlement", the part of the amounts reported in the previous column "Amount generated" should be included.Pending application at the beginning of the period" for tax periods 2016 to 2020, to be applied in the tax period being reported.

  • In the column "Pending application in future periods", the entity shall enter the positive difference between the amounts relating to the tax periods 2016 to 2020, which have been entered in the columns "Amount generated.Pending implementation at the beginning of the period" and "Implemented in this settlement". The resulting amount may be applied in future tax periods.

    The row of this column corresponding to the 2016 financial year for the generation of the amounts pending addition due to the limit of the non-applied operating profit pending application in future periods will remain closed for the 2021 tax period, and therefore should not be completed.

Note common to the completion of this section 3:

This item is only to be completed when excess operating profit limits from previous years are applied in the financial year or when an amount is to be shown in the column for excesses over the operating profit limit to be applied in future periods.

The "row 2021(*)" shall only be completed where the entity has an unused operating profit cap addition pending for another tax period starting in 2021 but less than 12 months prior to the one reported.

The "row 2021(**)" shall only be completed when the entity has pending addition by limit of unrealised operating profit, generated in the own tax period, applicable in future tax periods.