Application of the limit of article 11.12 of the LIS to the impairment losses of article 13.1 LIS and provisions and expenditure of articles 14.1 and 14.2 of the LIS
Regulation: DA 7 and 15 Law 20/1990
In the case of cooperative societies, the Seventh Additional Provision of Law 20/1990 establishes that the limit of 70 percent referred to in article 11.12 of the LIS in the integration of the provisions included in said provision, will refer to the positive integral quota without taking into account its integration or the compensation of negative quotas.
In relation to the 70 percent limit established in the first paragraph of article 11.12 of the LIS, a distinction must be made between:
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For cooperative societies with a net turnover of less than 20 million euros during the 12 months prior to the start date of the tax period, the limit will be 70 percent .
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Cooperative societies with a net turnover of at least 20 million euros during the 12 months prior to the start date of the tax period, the Fifteenth Additional Provision of Law 20/1990 establishes that the limit of 70 percent in article 11.12 of the LIS, will be replaced by the following:
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50 percent , when in the referred 12 months the net amount of the turnover is at least 20 million euros, but less than 60 million euros.
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25 percent , when in the referred 12 months the net amount of the turnover is at least 60 million euros.
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Filling in form 200
In application of the provisions of the first paragraph of article 11.12 of the LIS, in the tax period in which these provisions are tax deductible , in addition to recording their amount in box [00480] "Impairment losses under art. 13.1 LIS and provisions and expenses (arts. 14.1 and 14.2 LIS) referred to in art. 11.12 LIS (converted into a share)" on page 14 of form 200, cooperative societies must make the following adjustments in boxes [00408] and [01037] "Application of the limit of art. 11.12 LIS to impairment losses under art. 13.1 LIS and provisions and expenses (art. 14.1 and 14.2 LIS)» on page 14 of form 200:
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In box [00408] you must enter the amount of those provisions whose deductibility is not applicable in said period because they exceed the limit provided for in said article. That is, box [00408] must contain the difference between the amount entered in box [00480] and the amount corresponding to the limit provided for in the first paragraph of article 11.12 of the LIS.
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Regarding the provisions that have not been integrated into the tax base in the tax period in which they were deductible for exceeding the limit established in the first paragraph of article 11.12 of the LIS, they must be integrated in the following immediate tax periods in box [01037], also taking into account the same limit. For this purpose, the second paragraph of article 11.12 of the LIS establishes that the provisions corresponding to the oldest tax periods will be integrated first.