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Practical Handbook for Companies 2021

Other corrections to the result of the profit and loss account

In the boxes [00413] and [00414] "Other corrections to the result of the profit and loss account" will include other corrections of increase and decrease that should be made to the amount in box [00501] of the result of the profit and loss account before corporation tax, for the determination of the taxable base, provided that they are not expressly included in any of the corrections included in the previous boxes of the section "Details of the corrections to the result of the profit and loss account (excluding the correction for IS)".

Circumstances that will give rise to the completion of these boxes include, by way of example and without being exhaustive, the following:

  • Corrections caused by the application of the provisions of the third additional provision of of the LIS, which establishes the non-inclusion in the tax base of positive income that has become apparent in the tax period as a result of:

    1. The following can be received from the Community's agricultural policy:

      1. Abandonment of cultivating the vineyard.
      2. Premium at start of plantations Apple.
      3. Premium at start of plataneras.
      4. Abandonment of dairy production.
      5. Abandonment of cultivating pears, Peaches and nectarines.
      6. Starting from plantations of pears, Peaches and nectarines.
      7. Abandonment of cultivating the sugarbeet and sugarcane.
    2. The following aid from the Community fisheries policy:for the permanent cessation of a vessel's fishing activity and for its transfer to joint enterprises in third countries, as well as for the permanent cessation of fishing activity.

    3. The receipt of public aid aimed at repairing the destruction, by fire, flood, subsidence, volcanic eruption or other natural causes, of assets used for the exercise of economic activities.

    4. The receipt of the aid for the abandonment of road transport activity paid by the Ministry of Public Works to hauliers who meet the requirements established in the regulations governing the granting of this aid.

    5. The collection of public compensation due to the compulsory slaughter of livestock, in the context of actions aimed at eradicating epidemics or diseases.

  • Corrections due to the application of the seventh additional provision of the LIS , relating to the non-inclusion in the taxable base for corporate income tax purposes of increases and decreases in equity that become apparent as a result of the professional team being attached to a newly created sports limited company.

  • Corrections that may arise from the application of the cases contemplated in the fifth and sixth transitory provisions of the revised text of the Law Regulating Pension Plans and Funds, approved by Royal Legislative Decree 1/2002, of 29 December.

A tener en cuenta:

Contributions made by shareholders to replenish the net assets of the company, due to the imbalance between the share capital and the net assets of in accordance with Royal Legislative Decree 1/2010 of 2 July, approving the revised text of the Capital Companies Act, are not counted as income.These contributions will not be included in the accounting result and the Tax Act does not establish any correction in this respect.