Education and Promotion Fund expenses
a) Cooperative results
In box [C4] the amounts of the cooperative results that the cooperatives allocate, with mandatory nature , to the Education and Promotion Fund will be included, and that are tax deductible in accordance with the provisions of articles 18.2 and 19 of Law 20/1990.
For tax purposes, the deductible amount of the endowment to the Education and Promotion Fund may not exceed in each financial year of 30 percent of its net surpluses. The excess will not be tax deductible .
Article 58.1 of Law 27/1999 establishes that, of the surpluses accounted for the determination of the cooperative result , once losses of any nature from previous years have been deducted and before the consideration of the Corporate Tax, at least 5 percent will be allocated to the Education and Promotion Fund.
Keep in mind:
The contributions to this fund charged to cooperative results that are not ## tax deductible must be included as accounting expense in box [C2]. Furthermore, for the part that is not tax deductible, a positive adjustment must be made to the accounting result (box [C6]), the amount of which must be included in box [C7 ].
b) Extra-cooperative results
In box [E4] the amounts of the extra-cooperative results that are will be collected. destined ##4##by the cooperatives to the Education and Promotion Fund. These amounts are not tax deductible.
Keep in mind:
The contributions to this fund charged to extra-cooperative results, are not tax deductible , so a positive adjustment must be made to the accounting result (box [ E6]) whose amount must be included in box [E7].