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Practical Handbook for Companies 2021

Completion of the table "Conversion of deferred tax assets into credit payable to the Tax Agency" (art. 130, DA 13th and DT 33 LIS) (page 20 ter of form 200)

In relation to the procedure for the conversion of deferred tax assets into a claim against the tax authorities, the taxpayer must complete the table "Conversion of deferred tax assets into a claim against the tax authorities (art. 130, DA 13th and DT 33 LIS)" on page 20b of form 200, as detailed below:

1.Deferred tax assets (DTA).DT 33 and DA 13 LIS

Transitional provision thirty-three of the LIS establishes a transitional regime for the conversion of deferred tax assets generated in tax periods commencing prior to 1 January 2016 into a receivable from the tax authorities.

This provision establishes a different treatment of these assets from the exercise of the right to convert them into a receivable from the tax authorities regulated in Article 130 of the LIS, depending on the period during which they are generated:

- Deferred tax assets arising before 1 January 2008

Paragraph 1 of the thirty-third transitory provision of the LIS establishes that these assets will be entitled to conversion into a claim payable to the tax authorities regardless of the amount of the positive net tax liability for the tax period in which they were generated.

- Deferred tax assets generated in the periods from 2008 to 2015

Paragraph 2 of the thirty-third transitory provision of the LIS establishes that in the event that the difference between the amount of the deferred tax assets referred to in paragraph 1 of said provision and the aggregate sum of the positive net tax payments corresponding to the tax periods elapsed between the years 2008 and 2015 is positive, the application of the provisions of article 130 of the LIS will require the entity to satisfy, with respect to said difference, the equity benefit for conversion of deferred tax assets into creditsThis benefit must be paid in all tax periods in which the deferred tax asset is recognised.

The capital allowance is regulated in the thirteenth additional provision of the LIS, which establishes that the amount of the allowance will be the result of applying 1.5 per cent to the total amount of such assets existing on the last day of the tax period corresponding to the entity's corporate income tax.

This benefit will accrue on the starting date of the voluntary tax return period for this Tax, with the payment period coinciding with that established for the self-assessment and payment of this Tax.

The payment of the capital benefit will be made by filing the form 221 of self-assessment of the capital benefit for conversion of deferred tax assets into a claim payable to the Tax Administration, approved by Order HFP/550/2017, of 15 June.

Finally, in relation to taxpayers who apply the provisions of this thirty-third transitory provision of the LIS, section 6 of the thirty-third transitory provision of the LIS establishes for these taxpayers the obligation to provide the following information :

  1. Total amount of deferred tax assets referred to in paragraph 1 of this provision.

  2. Total amount of the aggregate sum of the positive net quotas of this Tax, corresponding to the tax periods elapsed between the years 2008 and 2015.

  3. Total amount and year of generation of the deferred tax assets referred to in (a) above, to which, in turn, paragraph 2 of this provision applies.

  4. Total amount and year of generation of the deferred tax assets referred to in (a) above to which paragraph 2 of this provision does not apply, specifying, where appropriate, those arising from the application of paragraph 4 of this provision.

Completion in Form 200 of the section "Deferred tax assets (AID).DT 33ª and DA 13ª LIS" (page 20b of form 200)

In order to comply with the obligation mentioned in the previous paragraphs, taxpayers must complete this section as follows:

  • In the column "Total amount of AID pending application at the beginning of the period (DT 33ª.1 and 6 a) LIS)", the total amount of the deferred tax assets generated in the 2007 and previous tax periods and in the periods between 2008 and 2015, respectively, which are pending application at the beginning of the tax period being reported, in the terms established in section 1 and in letter a) of section 6 of the thirty-third transitory provision of the LIS, shall be entered in the boxes [01524] and [01529].

  • In the column "Positive net tax liability", in the box [01530], the amount of the aggregate sum of the positive net corporate income tax liability corresponding to the tax periods between 2008 and 2015 shall be entered.

    A tener en cuenta:

    The box corresponding to the row "2007 and earlier" is blocked because, according to paragraph 1 of the thirty-third transitional provision of the LIS, the right to convert deferred tax assets generated in those periods can be exercised regardless of the amount of the positive net tax liability of the period in which they were generated.

    Also is blocked the completion of box corresponding to the total of this column.

  • In the column "AID applied in the period (due to integration of provisions in the settlement)", the amount of the deferred tax assets generated before 1 January 2008 and in the periods between 2008 and 2015, respectively, which are applied in the tax period being declared due to integration in the tax base of the provisions that generated them under the terms established in article 11.12 of the LIS, shall be entered in the boxes [01525] and [01590] .

  • In the column "AIDs converted into receivable in the period", in the boxes [01526] and [01591] the amount of deferred tax assets generated before 1 January 2008 and in the periods between 2008 and 2015, respectively, converted into receivable in the tax period being reported under the terms established in article 130 of the LIS, shall be entered.

Within this section "Deferred tax assets (DTA).DT 33ª and DA 13ª LIS", in the block "AID pending application in future periods", the amounts corresponding to the deferred tax assets that have not been applied or converted in the tax period being reported and which, therefore, remain pending application in future periods:

  • In the column "With capital allowance (TD 33rd.6 c) LIS)", from the total amount of the deferred tax assets stated in the column "Total amount of AID pending application at the beginning of the period (TD 33rd.1 and 6 a) LIS)", from which the amounts corresponding to the deferred tax assets that have been applied in the period (by integration of provisions in the liquidation) and the deferred tax assets converted into a receivable in the period must be subtracted, the amount on which the capital allowance for conversion of said assets must be paid under the terms established in section 2 of the thirty-third transitory provision of the LIS.

    For this purpose, in box [01531], enter the amount on which the capital allowance for the conversion of deferred tax assets generated in the tax periods between 2008 and 2015 is payable.

    A tener en cuenta:

    The box corresponding to the row "2007 and previous years" is blocked because, according to the provisions of the thirty-third transitory provision of the LIS, deferred tax assets generated in years prior to 1 January 2008 may be converted into a receivable without having to pay the capital benefit.

  • In the column "No capital allowance (TD 33rd.6 d) LIS)" the total amount of the deferred tax assets stated in the column "Total amount of AID pending application at the beginning of the period (TD 33rd.1 and 6 a) LIS)", from which the amounts corresponding to the deferred tax assets that have been applied in the period (by integration of provisions in the liquidation) and the deferred tax assets converted into a receivable in the period, the amount on which the capital allowance for conversion of said assets does not correspond to the terms established in sections 1 and 2 of the thirty-third transitory provision of the LIS must be subtracted, shall be stated.

    For this purpose, in boxes [01527] and [01532] shall be entered the full amount on which the capital gains tax credit for conversion of deferred tax assets generated in the tax periods beginning before 1 January 2008 and in the tax periods between 2008 and 2015, respectively, is not payable.

  • In the column "Without patrimonial benefit.Reduction of benefit for excess tax liability for other periods starting from 2016 (TD 33ª.4 and 6 d) LIS)" box [01533] the amount of the deferred tax assets generated in the tax periods between 2008 and 2015 that derive from the application of section 4 of the thirty-third transitory provision of the LIS.

    This column includes that part of the deferred tax assets which were originally required by the application of section 2 of the thirty-third transitional provision of the LIS, to pay the tax benefit in order to be converted into a claim against the tax authorities, and which, as a result of the application of section 4 of the said provision, are no longer required to pay the said benefit.

    A tener en cuenta:

    With regard to the application of the excess positive net tax liability generated in a given period against the deferred tax assets generated in the same, regulated in the second paragraph of article 130.1 of the LIS, which are applied to assets of the same nature generated in the tax periods from 2008 to 2015 (TD 33a.4 of the LIS), this must be entered in the section "Excess positive net tax liability (art. 130.1 and DT 33a.4 LIS)" on page 20b of form 200, in the column entitled "Excess positive net tax liability applied in tax periods from 2008 to 2015 (DT 33a.4 LIS)", broken down by year of generation.

    The box corresponding to the row "2007 and previous years" is blocked because, according to the provisions of the thirty-third transitory provision of the LIS, deferred tax assets generated in years prior to 1 January 2008 may be converted into a receivable without having to pay the capital benefit.

  • In the column "Total amount of AID pending (DT 33ª.1 and 6 a) LIS)" the total amount of the deferred tax assets entitled to conversion into a receivable according to the provisions of article 130 and the thirty-third transitory provision of the LIS, which have not been applied in the tax period being declared due to the integration of provisions in the liquidation, nor have they been converted into a receivable in the period, and therefore remain pending application in future periods, shall be entered.The amount is the sum of the three columns above, which are part of the block "AIDs to be implemented in future periods".

    For this purpose, the total amount of such assets generated in tax periods starting before 1 January 2008 and in tax periods between 2008 and 2015, respectively, shall be entered in boxes [01528] and [01534] .

2.Deferred tax assets (DTA).Art. 130 LIS

As established in the first paragraph of article 130.1 of the LIS for the tax periods beginning on or after 1 January 2016, the deferred tax assets corresponding to the allocations referred to in article 11.12 of the LIS may be converted into a receivable from the tax authorities, for an amount equal to the positive net tax liability corresponding to the tax period in which they were generated, provided that any of the following circumstances set out in article 130.2 of the LIS apply:

  • That the taxpayer records accounting losses in its annual accounts, audited and approved by the corresponding body.

    In this case, the amount of deferred tax assets subject to conversion will be determined by the result of applying to the total them, the percentage that represent the accounting losses for the year over the amount of capital and reserves.

  • The entity is subject to liquidation or judicially declared insolvency.

According to the provisions of the second paragraph of article 130.1 of the LIS,, when the amount of the positive net tax payable in a given tax period exceeds the amount of the deferred tax assets generated in the same period referred to in the first paragraph of article 130.1 of the LIS, the entity may have the right to convert the amount of those assets of the same nature generated in previous tax periods or in the 2 subsequent tax periods into a receivable from the tax authorities, for an amount equal to the excess.

The deferred tax assets due to the right to offset tax losses in subsequent years will also become a receivable from the tax authorities when they are the result of including in the tax base the provisions for impairment of receivables or other assets arising from the possible insolvency of debtors, as well as the provisions or contributions to social welfare systems and, where applicable, early retirement, which generated the deferred tax assets referred to in the first paragraph of this section.

The conversion of the deferred tax assets referred to in this section into a receivable from the tax authorities will take place at the time of filing the self-assessment corporate income tax return corresponding to the tax period in which the aforementioned circumstances have arisen.

This conversion will determine that the taxpayer may opt to request their payment to the tax administration or to offset these credits against other state tax debts that the taxpayer generates from the moment of conversion, in accordance with the procedure and within the period established in article 69 of the RIS.

On the other hand, deferred tax assets may be exchanged for Government Debt securities, after a period of eighteen years has elapsed, calculated from the last day of the tax period in which the assets are recorded in the accounts.

In relation to taxpayers who apply the provisions of Article 130 of the LIS, Article 130.6 of the LIS establishes for them the obligation to provide the following information :

  1. Total amount of deferred tax assets corresponding to provisions for impairment of credits or other assets derived from the possible insolvencies of debtors not related to the taxpayer, not owed to public law entities and whose deductibility does not occur by application of the provisions of article 13.1.a) of the LIS, as well as those derived from the application of paragraphs 1 and 2 of article 14 of the LIS, corresponding to provisions or contributions to social welfare systems and, where applicable, pre-retirement.

  2. Total amount and year of generation of the deferred tax assets referred to in letter a) above in respect of which the entity has the right established in this article, specifying those referred to, where applicable, in the second paragraph of article 130.1 of the LIS.

  3. Total amount and year of generation of the deferred tax assets referred to in (a) above in respect of which the entity does not have the right set out in this Article.

Completion in Form 200 of the section "Deferred tax assets (AID).Art. 130 LIS" (page 20b of form 200)

In order to comply with the obligation mentioned in the previous paragraphs, taxpayers must complete this section as follows:

  • In the column "Total amount of AID (art. 130.6 a) LIS) pending application at the beginning of the period/g1enerated in the period itself", in boxes [01542], [01552], [01754], [02100], [02268] and [01117], the amounts of the deferred tax assets generated in 2016, 2017, 2018, 2019, 2020 and 2021, respectively, which are pending application, under the terms of article 130.6 of the LIS, shall be entered.

  • In the column "Positive net tax liability", in boxes [01543], [01553], [01755], [02101], [02269] and [01118] , the amounts of the positive net corporate income tax liability corresponding to 2016, 2017, 2018, 2019, 2020 and 2021, respectively, shall be entered.

Within this section "Deferred tax assets (DTA).Art. 130 LIS", the block "AIDs pending application at the beginning of the period/g1enerated in the period itself", shall be completed as follows:

  • In the column "Entitled to conversion into a receivable (art. 130.6 b) LIS)", in boxes [01544], [01554], [01756], [02102], [02270] and [01119], the amount relating to the deferred tax assets entitled to conversion for an amount equal to the positive net tax liability corresponding to the tax periods 2016, 2017, 2018, 2019, 2020 and 2021 of generation thereof, respectively, which are a part of the deferred tax assets of article 130.6 b) of the LIS, shall be entered.

  • In the column "Entitled to conversion into a credit due to excess tax liability for other periods (art. 130.1 and 6 b) LIS)" , in boxes [01545], [01555], [01757], [02103], [02271] and [01120], the amount relating to the deferred tax assets generated in 2016, 2017, 2018, 2019, 2020 and 2021, respectively, which have acquired the right to conversion by application of the excess tax liability for other periods, as established in the second paragraph of article 130.1 of the LIS, and whose independent completion is established in article 130.6 b) of the LIS, shall be entered.

    A tener en cuenta:

    The application of these excesses of positive net tax liability corresponding to other periods must be reflected correlatively in the column "Excess of positive net tax liability applied in tax periods starting from 2016 (art. 130.1 paragraph 2 LIS)" of the section "Excess of positive net tax liability (art. 130.1 and DT 33rd.4 LIS)" found at the bottom of page 20b of form 200.

  • In the column "Not entitled to conversion into an enforceable claim (Art. 130.6 c) LIS)" shall be entered in boxes [01546], [01556], [01758], [02104], [02272] and [01121], the total amount of deferred tax assets generated in 2016, 2017, 2018, 2019, 2020 and 2021, respectively, on which the right of conversion into a receivable cannot be exercised, in accordance with article 130.6 c) of the LIS.

  • In the column "AIDs applied in the period (by integration of provisions in the liquidation)" , in boxes [01547], [01753], [01994], [02267] and [02417], the amount of the deferred tax assets applied by the integration in the liquidation of the provisions corresponding to the tax periods 2016, 2017, 2018, 2019 and 2020, respectively, that the entity had pending integration at the beginning of the period being reported, shall be entered.

  • The amount of deferred tax assets generated in 2016, 2017, 2018, 2019, 2020 and 2021, respectively, and converted into a receivable in the tax period being reported, shall be entered in boxes [01548], [01557], [01759], [02105], [02273] and [01122] in the column "AIDs converted into a receivable in the period".

Within this section "Deferred tax assets (DTA).Art. 130 LIS", the block "AIDs to be applied in future periods" shall be completed as follows:

  • In the column "Entitled to conversion into a receivable (art. 130.6 b) LIS)" the amounts of deferred tax assets pending application in future periods that are entitled to conversion due to sufficiency of the positive net tax liability corresponding to the tax period in which they were generated, in accordance with the provisions of the first paragraph of article 130.1 of the LIS, shall be entered.

    These are the deferred tax assets included in the column "Entitled to conversion into a receivable (art. 130.6 b) LIS)" in the block "AID pending application at the beginning of the period/generated in the period itself, after deducting the deferred tax assets applied in the period due to integration of provisions in the settlement and the deferred tax assets converted into a receivable in the period.

    For these purposes, in boxes [01549], [01558], [01760], [02106], [02274] and [01131], the amount of those deferred tax assets generated in 2016, 2017, 2018, 2019, 2020 and 2021, respectively, pending application in future periods, which are entitled to conversion due to sufficiency of positive net tax liability in the tax period of generation, shall be entered.

  • In the column "Entitled to conversion to credit due to excess tax liability in other periods (art. 130.1 and 6 b) LIS)" the amounts of deferred tax assets pending application in future periods that have acquired the right to conversion by application of the excess positive net tax liability of another period shall be recorded.

    The amount comes from the column "Entitled to conversion into a receivable due to excess tax liability from other periods (art. 130.1 and 6 b) LIS)" in the block "AIDs pending application at the beginning of the period/generated in the period itself", after deducting the deferred tax assets applied in the period due to integration of provisions in the settlement and the deferred tax assets converted into a receivable in the period.

    For these purposes, in boxes [01550], [01559], [01761], [02107], [02275] and [01132], the amount of deferred tax assets generated in 2016, 2017, 2018, 2019, 2020 and 2021, respectively, pending application in future periods, which have acquired the right of conversion by application of the excess positive net tax liability corresponding to other tax periods, shall be entered.

  • In the column "No right to convert into a receivable (art. 130.6 c) LIS)", in boxes [01551], [01560], [01762], [02276] and [01133], the total amount of deferred tax assets generated in 2016, 2017, 2018, 2019, 2020 and 2021, respectively, and pending application in future periods, on which the right to convert into a receivable cannot be exercised, in accordance with article 130.6 c) of the LIS.

A tener en cuenta:

In the completion of the entire section "Deferred tax assets (DTA).Art. 130 LIS", it should be noted that the boxes corresponding to the row "2021(*)" should only be completed in the event that the entity has allocations pending integration corresponding to a tax period commencing in 2021 prior to that which is now the subject of the declaration.

3.Conversion of deferred tax assets into a receivable from the tax authorities

According to the provisions of article 130.3 of the LIS, the conversion of deferred tax assets referred to in article 130.1 of the LIS will take place at the time of filing the self-assessment of corporate income tax corresponding to the tax period in which the following circumstances described in article 130.2 of the LIS have occurred:

  • That the taxpayer records accounting losses in its annual accounts, audited and approved by the corresponding body.

    In this case, the amount of deferred tax assets subject to conversion will be determined by the result of applying to the total them, the percentage that represent the accounting losses for the year over the amount of capital and reserves.

  • The entity is subject to liquidation or judicially declared insolvency.

The deferred tax assets due to the right to offset tax losses in subsequent years will also be converted into a claim against the tax authorities, when they are the result of including in the tax base the provisions for impairment of loans or other assets arising from the possible insolvency of debtors, as well as the provisions or contributions to social welfare systems and, where applicable, early retirement, which generated the deferred tax assets referred to in the first paragraph of article 130.1 of the LIS.

The conversion of deferred tax assets into a receivable from the tax authorities, as referred to in Article 130.1 of the LIS, means that the taxpayer may opt to request their payment to the tax authorities or to offset these credits against other tax debts of a state nature that the taxpayer itself generates from the time of conversion, in accordance with the procedure and within the period established in Article 69 of the RIS.

On the other hand, deferred tax assets may be exchanged for Government Debt securities, after a period of eighteen years has elapsed, calculated from the last day of the tax period in which the assets are recorded in the accounts.

Completion in Form 200 of the section "Conversion of deferred tax assets into a receivable from the tax authorities" (page 20b of Form 200).

In order to comply with the above, taxpayers should complete this section as follows:

  • In the box [00393] the amount corresponding to the conversion of these deferred tax assets into a receivable from the tax authorities under the terms provided for in paragraphs 1 and 2 of Article 130 of the LIS shall be entered.

    The amount in this box must be the sum of boxes [01537] and [01567].

  • In box [00150] enter the amount on which the taxpayer has opted to claim credit of the deferred tax assets converted into a receivable from the tax administration.

  • In box [00506] enter the amount on which the taxpayer has elected to claim offsetting of the deferred tax assets converted into a receivable from the tax administration.

A tener en cuenta:

In relation to the completion of boxes [00393], [00150] and [00506], please refer to the sections relating to credit and compensation for conversion of deferred tax assets into a receivable from the tax authorities.

4.Excess positive net tax liability (art. 130.1 and DT 33ª.4 LIS)

As mentioned in previous sections, article 130.1 of the LIS establishes that deferred tax assets corresponding to the provisions referred to in article 11.12 of the LIS may be converted into a claim against the tax authorities for an amount equal to the positive net tax liability corresponding to the tax period in which they were generated, provided that any of the circumstances set out in article 130.2 of this Law are met.

The second subparagraph of Article 130.1 of the LIS provides that where the amount of the positive liquid quota for a given tax period is greater than the amount of deferred tax assets generated in the same period as referred to in the previous paragraph, the entity may have the right provided for in this Article, for an amount equal to the excess, in respect of those assets of the same nature generated in previous tax periods or in subsequent tax periods.

Paragraph 4 of the thirty-third transitional provision of the LIS establishes that notwithstanding the provisions of the second paragraph of article 130(1) of the LIS, the excess referred to therein shall first reduce the amount of deferred tax assets in respect of which the capital allowance referred to in paragraph 2 of this provision must be paid.

Paragraph 2 of the thirty-third transitory provision of the LIS establishes that if the difference between the amount of the deferred tax assets referred to in paragraph 1 of said provision and the aggregate sum of the positive net tax payments corresponding to the tax periods between 2008 and 2015 is positive, the application of the provisions of article 130 of the LIS will require the entity to pay, in respect of said difference, the equity benefit for conversion of deferred tax assets into a claim payable to the tax authorities, under the terms established in the thirteenth additional provision of the LIS.

Completion in form 200 of the section "Excess positive net tax liability (art. 130.1 and DT 33ª.4 LIS)" (page 20b of form 200)

In order to comply with the above, taxpayers should complete this section as follows:

  • In the column "Excess positive net tax liability outstanding at the beginning of the period/g1enerated in the period itself", in boxes [02109], [02277] and [01134], the amount of positive net tax liability that in the tax periods corresponding to 2019, 2020 and 2021, respectively, was higher than the amount of deferred tax assets generated in the same period and that is outstanding at the beginning of the tax period being reported, shall be entered.

  • In the column "Excess positive net tax liability applied in tax periods from 2008 to 2015 (DT 33ª.4 LIS)", as established in section 4 of the thirty-third transitory provision of the LIS, in boxes [02110], [02278] and [01135] the amount of the excess positive net tax liability generated in 2019, 2020 and 2021, respectively, and included in the period being reported in boxes [02109], [02277] and [01134], which reduces the amount of deferred tax assets corresponding to the tax periods between 2008 and 2015, with respect to which the capital allowance must be paid, shall be entered.

  • In the column "Excess positive net tax liability applied in tax periods starting from 2016 (art. 130.1 paragraph 2 of the LIS)", in boxes [02111], [02279] and [01136] the amount of the excess of the positive net tax liability generated in 2019, 2020 and 2021, respectively, which is applied to the deferred tax assets generated in tax periods starting from 1 January 2016 in the terms set out in the second paragraph of article 130.1 of the LIS, shall be entered.

  • In the column "Excess positive net tax liability pending application in future periods", in boxes [02280] and [01138], the amount of the excess of the positive net tax liability corresponding to 2020 and 2021 collected in boxes [02277] and [01134] of the settlement of the tax period being declared, but not applied in that period and therefore pending application for future periods, shall be entered.

A tener en cuenta:

When completing the entire section "Excess positive net tax liability (art. 130.1 and DT 33.4 LIS)", it should be taken into account that the boxes corresponding to the row "2021(*)" should only be completed in the event that the entity has allocations pending inclusion corresponding to a tax period commencing in 2021 prior to that which is now the subject of the tax return.