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Practical Manual for Companies 2022.

Compensation for converting deferred tax assets into credit payable to the Tax Agency

Regulation: Article 130 LIS

Entities that convert deferred tax assets under the terms established in sections 1 and 2 of article 130 of the LIS (see the following section ), may choose to offset said credits with other state tax debts that the taxpayer itself generates from the moment of the conversion, following the procedure established in article 69 of the RIS .

Filling in form 200

In the event that the entity opts for the offsetting of credits, it must record the amount corresponding to said offset in box [00506] "Offsetting for conversion of deferred tax assets into a payable credit against the Tax Authority (art. 130 LIS)" on page 14 bis of form 200:

  • In the event that entity pays taxes exclusively to the State Administration, must record the amount in box [01021] "Compensation for conversion of deferred tax assets into a payable credit against the Tax Administration (art. 130 LIS) (State)". In this case, the amount in box [01021] will match the amount in box [00506].

  • In the event that entity pays taxes to one or more Provincial Councils of the Autonomous Community of the Basque Country and/or the Foral Community of Navarre, it must record the amount in box [01044] "Credit for conversion of deferred tax assets into a credit payable to the Tax Authority (art. 130 LIS) (D. Forales/Navarre)». This box must be completed on page 26 of Form 200.