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Practical Manual of Companies 2021.

Other adjustments linked to temporary imputation

Filling in form 200

In boxes [00361] and [00362] “Other differences in temporary allocation of income and expenses (art. 11 LIS )” on page 12 of model 200, must be collected, in addition to the adjustments included in section « General considerations » of this chapter, all corrections generated by temporary imputation differences that do not fit in specific boxes created in form 200.

Thus, article 11.5 of the LIS establishes that the reversal of expenses that have not been tax deductible will not be included in the tax base.

article 11.7 of the LIS establishes that when provisions are eliminated , because they have not been applied to their purpose, without credit to an income account of the year, their amount will be integrated into the tax base of the entity that provided them, to the extent that said provision would have been considered a deductible expense.

Finally, article 11.8 of the LIS establishes that when the entity is a beneficiary or has the right to redeem life insurance contracts in those who, in addition, assume the investment risk, will in all cases integrate into the tax base the difference between the net asset value of the assets affected by the policy at the end and at the beginning of each tax period.

The provisions of this section will not apply to insurance that implements pension commitments assumed by companies in the terms provided for in the first Additional Provision of the Consolidated Text of the Law on the Regulation of Pension Plans and Funds, approved by the Royal Decree. Legislative 1/2002, of November 29, and its implementing regulations.

The amount of the imputed income will reduce the performance derived from the receipt of amounts from the contracts.

Therefore, in relation to the provisions of these precepts, the taxpayer must make the adjustments in boxes [00361] and [00362] generated by the non-integration into the tax base of the reversal of expenses that have not been tax deductible, as established in article 11.5 of the LIS , or when provisions are eliminated because their purpose is not applied according to the provisions of article 11.7 of the LIS , or when the entity is a beneficiary or has the recognized right of redemption of life insurance contracts in which, in addition, it assumes the risk of investment, under the terms established by article 11.8 of the LIS .