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Practical Manual of Companies 2022.

Minimum taxation of cooperatives (page 14 of model 200)

Regulation: Article 30 bis LIS

Minimum taxation also applies to cooperatives whose net turnover is at least 20 million euros during the 12 months prior to the date on which the tax period begins or that pay taxes under the regulated tax consolidation regime. in Chapter VI of Title VII of said Law, regardless of its net amount of turnover.

In the case of cooperatives, the minimum liquid quota may not be lower than the result of applying the 60 percent on the full quota, that is , on the tax quota determined in accordance with article 23 of Law 20/1990, of December 19, on the Fiscal Regime of Cooperatives, and reduced by the compensation of negative contributions referred to in article 24 of said Law.

For the calculation of the amount of the minimum tax , cooperatives must take into account the following rules:

  1. Firstly, the full fee will be reduced by the amount of the bonuses that are applicable (in particular, the bonuses applicable to specially protected cooperatives), including those regulated in Law 19/1994, of July 6, modifying of the Economic and Fiscal Regime of the Canary Islands, and in the amount of the deduction for investments made by the port authorities of article 38 bis of the LIS.

    Secondly, the double taxation deductions regulated in articles 31, 32, 100 and the twenty-third transitional provision of the LIS will be applied, as well as the double taxation deduction applicable to cooperative returns obtained by cooperatives, respecting the limits that are applicable in each case.

    If as a result of the provisions of the two previous paragraphs, an amount is lower than the minimum liquid quota (60 percent of the full quota calculated according to the provisions of Law 20/1990, of December 19), this amount will be considered the minimum liquid quota.

  2. In the event that after the reduction of the bonuses and deductions referred to in letter a) above, an amount results in an amount greater than the amount of the minimum liquid quota , the remaining deductions that result will be applied. proceeds, with the limits applicable in each case, up to the amount of said minimum liquid quota.

    The deductions whose amount is determined in accordance with the provisions of Law 20/1991, of June 7, modifying the tax aspects of the Economic Fiscal Regime of the Canary Islands, and in Law 19/1994, of July 6, of modification of the Economic and Fiscal Regime of the Canary Islands, will be applied, respecting their own limits, even if the resulting liquid quota is lower than the aforementioned minimum liquid quota.

In the event that, due to the application of the minimum liquid quota, there are deductions pending to be applied, these may be deducted in the following tax periods in accordance with the regulations applicable in each case.