Corporation Tax adjustments

The need to apply this correction in boxes [00301] and [00302] "Corporation Tax Corrections" on page 12 of form 200, is imposed by the different consideration that the rules accounting and tax obligations have on Corporate Tax payments. Thus, the accounting standard considers that the amount of the Corporate Tax payment will be computed in the profit and loss account as an expense or income item, depending on whether the account or set of accounts representing said concept has a debit or credit balance. , respectively.

On the other hand, article 15.b) of the LIS establishes that are not tax deductible the expenses derived from the accounting of Corporate Tax and that are not considered income those coming from said accounting.

Filling in form 200

• In box box [00326] on page 8 "Profit and loss account" of said model refers to "Profit taxes", so in addition to the Corporate Tax, they may be including taxes on profits obtained abroad, such as those that tax income obtained abroad through a permanent establishment, those that tax income obtained abroad without a permanent establishment, or taxes that particularly levy dividends or participation in profits of foreign companies.

  Likewise, the SOCIMI will include in this box the amounts resulting from applying the following special taxes on profits considered a share of the Corporate Tax:

  • 19 percent on the full amount of dividends or participations in profits distributed to the partners when the participation in the share capital of the entity is equal or higher than 5 percent and said dividends at the headquarters of its partners are exempt or taxed at a rate lower than 10 percent. The amount of this tax must be self-assessed and entered in form 217.

  • 15 percent on the amount of the profits obtained in the year that is not subject to distribution , in the part that comes from income that has not been taxed at the general corporate tax rate nor is it income covered by the 3-year reinvestment period regulated in letter b) of article 6.1 of Law 11/2009. The amount of this tax must be self-assessed and entered in form 237.

• The amount entered in box [00328] “Results for the year from discontinued operations net of taxes” will be subject to a portion of the Corporate Tax quota not included in the aforementioned box [00326] .

Therefore:

• From the amount entered in box [00326] and considering the positive or negative sign that is attributable to it, the taxes on profits obtained abroad must be subtracted algebraically (with its sign ), and, where applicable, the amounts of the special taxes applied by the SOCIMIs (with their sign). Simultaneously, to said amount (with its sign) will be added algebraically the part of the Corporate Income Tax (with its sign) that corresponds to the result of the year from discontinued operations net of taxes.

• If after carrying out the aforementioned algebraic subtraction and addition operations on the aforementioned amount in box [00326] , the resulting amount is:

  • Positive , the Corporate Tax fee that this resulting amount represents will have been considered as additional income as it is a credit in favor of the taxpayer. In this way, in box box [00302] on page 12 of the settlement of the model, such amount must be included as a decrease in the result of the profit and loss account.

  • Negative , the amount of Corporate Tax that it represents will have been considered an accounting expense. In this way, in box box [00301] on page 12 of the settlement of the model, such amount must be included as an increase to the result of the profit and loss account.

    In any case, the aforementioned algebraic operations carried out on the amount entered in box [00326] should only be carried out for the purposes of making corrections to boxes [00301] and [00302].