Other adjustments linked to temporary imputation

Filling in form 200

In boxes [00361] and [00362] "Other differences in temporary allocation of income and expenses (art. 11 LIS )" on page 12 of form 200, in addition to the adjustments included in section " General considerations " of this chapter, all corrections generated by differences in temporary allocation that do not fit in specific boxes created in form 200 must be recorded.

Thus, article 11.5 of the LIS establishes that the reversal of expenses that have not been tax deductible will not be integrated into the tax base.

In article 11.7 of the LIS it is established that when provisions are eliminated because they have not been applied to their purpose, without crediting an income account for the year, their amount will be included in the tax base of the entity that provided them, to the extent that said provision would have been considered a deductible expense.

Finally, article 11.8 of the LIS establishes that when the entity is a beneficiary or has been granted the right to redeem life insurance contracts in which it also assumes the investment risk, it will in all cases include in the tax base the difference between the net asset value of the assets affected by the policy at the end and at the beginning of each tax period.

The provisions of this section shall not apply to insurance policies that implement pension commitments assumed by companies under the terms set forth in the First Additional Provision of the Revised Text of the Law on Regulation of Pension Plans and Funds, approved by Royal Legislative Decree 1/2002, of November 29, and in its implementing regulations.

The amount of imputed income will reduce the income derived from the receipt of amounts from the contracts.

Therefore, in relation to the provisions of these precepts, the taxpayer must make in boxes [00361] and [00362] , the adjustments generated by the non-integration in the tax base of the reversal of expenses that have not been fiscally deductible, as established in article 11.5 of the LIS , or when provisions are eliminated because their purpose is not applied according to the provisions of article 11.7 of the LIS , or when the entity is a beneficiary or has been recognized the right to redeem life insurance contracts in which, in addition, it assumes the investment risk, in the terms established by article 11.8 of the LIS .