Limits of offsetting negative tax bases

The negative tax bases that have been subject to liquidation or self-assessment may be offset with the positive income of the following tax periods with the limit of 70 percent of the tax base prior to the application of the capitalization reserve and its compensation.

As established in the fifteenth Additional Provision of the LIS , for taxpayers whose net turnover is at least 20 million euros during the 12 months prior to the date on which tax period begins, the 70 percent limit will be replaced by the following:

• The 50 percent , when in the aforementioned 12 months the net amount of the turnover is at least 20 million euros, but less than 60 million euros.

• The 25 percent , when in the aforementioned 12 months the net amount of the turnover is at least 60 million euros.