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Practical Manual of Companies 2022.

Tax adjustments for applying the levelling reserve (boxes 01033 and 01034)

Small entities that apply this tax incentive must make the following adjustments in boxes [01033] and [01034] “Equalization reserve” on page 13 of form 200:

  • In the tax period in which the entity reduces its positive tax base by 10 percent, must make a negative adjustment in box [01034] for the amount of said reduction, taking into account the maximum reduction limit of 1 million euros.

  • These entities must reverse this negative adjustment by entering in the box [01033] of increases, the amount of the reduced amounts that they add in the tax periods that conclude in the 5 years immediately following the tax period in which the reduction was made, provided that the tax base is negative and for the amount thereof.

    Keep in mind:

    In the event that, within the period of five immediate and successive years, said entities have not generated sufficient negative tax bases for it to occur the full reversal of the negative adjustment made in the initial tax period, must add to its tax base in the last tax period corresponding to the calculation of the five years, the remaining amount.