Income derived from waivers and forbearance operations resulting from insolvency proceedings

article 11.13 of the LIS establishes that the entry corresponding to the accounting record of removes and waits consequence of the application of Royal Legislative Decree 1/2020, of May 5, which approves the consolidated text of the Bankruptcy Law, it will be attributed to the debtor's tax base as it is appropriate to record subsequently financial expenses derived from the same debt and up to the limit of the aforementioned income.

In accordance with the provisions of said provision, in the event that the amount of income is greater than the total amount of financial expenses pending to be recorded , derived from the same debt, the imputation of that in the tax base will be carried out proportionally to the financial expenses recorded in each tax period, with respect to the total financial expenses pending to be recorded derived from the same debt.

Filling in form 200

In application of the provisions of this precept, the following adjustments will have to be made in boxes [01514] and [00272] "Adjustments for income derived from operations with withdrawal or hold (art. 11.13 LIS)" on page 12 of model 200:

• The income recorded, as long as there is no financial expense, will generate the corresponding negative tax adjustment, the amount of which must be entered in box [00272] of reductions .

• Subsequently, as a consequence of the temporary imputation rule, the financial expenses derived from the debt are recorded, these amounts must be included up to the limit of the aforementioned income in the box [01514] of increases.