Cooperative income corresponding to reversal of impairment (at tax payable level) (Transitional provision 16.8 of the LIS)

Regulation: DT 16.8 LIS

Cooperative societies must convert into shares the amount relating to the income corresponding to the reversal of impairment losses of securities representing participation in the capital or equity of entities generated in tax periods beginning before 1 January 2013, which are not taken into account in the application of the limitation on the offsetting of negative tax bases established in article 26.1 of the LIS under the terms established in section 8 of the sixteenth transitional provision of the LIS.

Filling in form 200

Cooperative societies must enter in box [01510] "Income corresponding to the reversal of cooperative impairments (at quota level) (DT 16.8 LIS)" on page 14 of form 200, the amount resulting from applying the average tax rate to which said cooperative societies are taxed to the income corresponding to the reversal of impairments according to section 8 of the sixteenth transitional provision of the LIS.