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Practical Handbook for Companies 2021

Adjustments arising from the application of the special system (page 13 of form 200)

1.Economic interest groupings (boxes 00375 and 00376)

When the reporting entity holds the economic rights inherent to being a resident partner in Spanish territory or a non-resident partner with a permanent establishment in Spain, of a Spanish economic interest grouping or a European economic interest grouping that applies the special tax regime, the following adjustments must be made in the boxes [00375] and [00376] "Economic interest grouping (Chapter II of Title VII LIS)" on page 13 of form 200:

  • In the boxes [00375] and [00376] the appropriate corrections should be entered for the positive or negative taxable bases that have been allocated or, in the case of European economic interest groupings not resident in Spanish territory, for the profits or losses that, applying the rules set out in article 44 of the LIS, should be included in the taxable base.

  • In the box [00376] of decreases will include the net financial expenses that, according to article 43.1.b) of the LIS, have been imputed to their members by these groupings in the tax period.

  • Likewise, in the box [00376] of decreases, the amount of dividends and shares in profits obtained and accounted for in the tax period being declared shall be included, provided that they come from tax periods in which the entity distributing the dividends or profits was in one of these special regimes and correspond to partners or members who must bear the imputation of the tax base.

A tener en cuenta:

These groupings can also allocate to members the capitalisation reserve which they have not used in the tax period.This reduction shall not be included in box [00376], but shall be included in box [01032] "Capitalisation reserve" on page 13 of form 200.

2.Temporary joint ventures, adjustments to Article 45 of the LIS (boxes 01320 and 01321)

Article 45.1 of the LIS establishes that temporary joint ventures applying the special regime, as well as their member companies, will be taxed in accordance with the provisions of Article 43 of this Law, except in relation to the valuation rule established in the second paragraph of section 4 of the aforementioned article.

For these purposes, when the reporting entity holds the economic rights inherent to the status of partner of a temporary joint venture, subject to the special regime, it shall enter in the boxes [01320] and [01321] "Temporary joint venture, adjustments of art. 45.1 LIS" on page 13 of form 200, all the adjustments corresponding to the allocations of article 43 of the LIS, when these are carried out on the date of the end of the tax period of the UTE:

  • In the boxes [01320] and [01321] you should enter the appropriate corrections for the positive or negative taxable bases that have been imputed to you for the profits or losses to be included in the taxable base.

  • In the box [01321] of decreases will include the net financial expenses that, according to article 43.1.b) of the LIS, have been imputed to their members by these groupings in the tax period.

  • Likewise, in the box [01321] of decreases, the amount of dividends and shares in profits obtained and accounted for in the tax period being declared shall be included, provided that they come from tax periods in which the entity distributing the dividends or profits was in one of these special regimes and correspond to partners or members who must bear the imputation of the tax base.

A tener en cuenta:

In these boxes [01320] and [01321] all the adjustments corresponding to the allocations made by the UTE in application of article 43 of the LIS shall be entered, provided that such allocations are made at the end of the tax period.If the UTE allocations are made in the following tax period in accordance with the provisions of Article 46.2 of the LIS, the corresponding adjustments for these allocations shall be entered in boxes [01018] and [01019] "Temporary joint ventures, adjustments for temporary allocation criteria (art. 46.2 LIS)".

Temporary joint ventures can also allocate to the partners the capitalisation reserve which they have not applied in the tax period.This reduction shall not be included in box [01321], but shall be included in box [01032] "Capitalisation reserve" on page 13 of form 200.

3.Temporary joint ventures adjustments for exempt income of temporary joint ventures operating abroad (boxes 00184 and 00544)

The partners or member companies of the UTE must make the following corrections in the boxes [00184] and [00544] "Temporary joint venture, adjustments for exempt income of UTE operating abroad (art. 45.2 LIS)" on page 13 of form 200:

  • Article 45.2 of the LIS establishes that companies that are members of a temporary joint venture operating abroad may benefit from the exemption provided for in Article 22 or the double taxation deduction provided for in Article 31 of this Law for income from abroad, provided that the requirements set out therein are met.

    For these purposes, the partners or member companies of temporary joint ventures operating abroad shall enter in boxes [00184] and [00544], the appropriate adjustments for the obtaining of such income obtained abroad, covered by the exemption of Article 22 of the LIS or the double taxation deduction provided for in Article 31 of the LIS.

  • The section 6 of the sixteenth transitional provision of the LIS establishes that in the case of a temporary joint venture which, having availed itself of the exemption regime provided for in article 50 of the RDLeg. 4/2004, as amended for tax periods commencing prior to 1 January 2015, had obtained net negative income abroad that had been included in the tax base of the member companies in tax periods commencing prior to 1 January 2013, when in subsequent years the temporary joint venture obtains positive income, the member companies shall include in their tax base, on a positive basis, the negative income previously imputed, up to the limit of the amount of such positive income.

    Therefore, by virtue of the above, when the UTE obtains positive income in successive periods, the partners or member companies must make a positive adjustment in the box [00184] of increases, for the amount of the negative income previously imputed, up to the limit of the amount of said positive income.

4.Adjustments for income exempted for participating abroad in collaboration formulas analogous to UTEs (boxes 01022 and 01023)

The regulation provided for in section 6 of the sixteenth transitory provision of the LIS and in article 45.2 of the LIS, is applied in the same terms established in the previous section, to entities that participate in works, services or supplies that they carry out or provide abroad through collaboration formulas similar to temporary joint ventures, and therefore their partners or member companies must make the following adjustments in the boxes [01022] and [01023] "Temporary joint ventures, adjustments for participating abroad in collaboration formulas similar to temporary joint ventures (art. 45.2 LIS)" on page 13 of form 200:

  • In application of the provisions of section 6 of the sixteenth transitional provision of the LIS, a positive adjustment must be made in the box [01022] of increases, for the amount of the negative income previously imputed, up to the limit of the amount of said positive income.

  • In accordance with the provisions of article 45.2 of the LIS, in the boxes [01022] and [01023] the appropriate adjustments shall be entered for the obtaining of income obtained abroad that avails of the exemption of article 22 of the LIS or the double taxation deduction provided for in article 31 of this Law.

5.Temporary joint ventures, adjustments for the application of the temporary imputation criteria (boxes 01018 and 01019)

By virtue of the provisions of article 46.2 of the LIS, if the allocations made by the UTE to its partners in application of article 43 of the LIS are carried out in the tax period following the end of the tax period of the UTE, all the adjustments corresponding to these allocations must be entered in the boxes [01018] and [01019] "Temporary joint ventures, adjustments for temporary allocation criteria (art. 46.2 LIS)".

Likewise, the adjustment for the purpose of cancelling the amount incorporated in the accounting result of the member entity from its participation in the UTE shall be included in the boxes [01018] and [01019], even if it is made in a tax period other than the one in which the corresponding allocations are included in its tax return.