Effects of non-fiscal accounting

article 20 of the LIS establishes that when a property element or a service has a different accounting and tax valuation, the acquiring entity will include in its tax base the difference between both, as follows:

1. In the case of equity elements that are part of current assets , in the tax period in which they motivate the accrual of an income or an expense.

2. In the case of non-amortizable assets that are part of the fixed assets, in the tax period in which they are transferred or derecognised.

3. In the case of amortizable assets that are part of the fixed assets, in the tax periods remaining in their useful life, applying to the aforementioned difference the amortization method used with respect to the aforementioned elements, unless they are subject to transmission or cancellation previously, in which case, it will be integrated on the occasion of the same.

4. In the case of services , in the tax period in which they are received, except that their amount must be incorporated into an asset element in which case the provisions of the previous paragraphs will apply.

Filling in form 200

In application of the provisions of this provision, in the tax period that the entity acquiring a property element or a service has a different accounting and tax valuation, it must include in boxes [01015] and [01016] « Effects of the accounting valuation different from the tax one (article 20 LIS)» on page 12 of model 200, the difference of both values.