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Practical Manual of Companies 2022.

Off-balance-sheet adjustments (page 13 of Form 200)

Entities that apply the tax incentive of the RIC must make the following extra-accounting adjustments in boxes [00403] and [00404] «Reserve for investments in the Canary Islands (Law 19/1994)»:

  • In box [00404] they will enter, as a reduction to the accounting result, the amount of the contributions to the RIC in accordance with the limit and other conditions established in article 27 of Law 19/1994 . This amount is the corresponding amount in any case to the provisions made with a charge to profits from tax periods beginning within the year 2022 , whether they are affected by unanticipated investments or anticipated investments if the latter have been carried out within the year 2022 .

  • In box box [00403] will be recorded as an increase to the accounting result, the amounts allocated to the RIC that gave rise to the reduction of the tax base and that due to having drawn down the reserve prior to the investment maintenance period or for investments other than those admitted, as well as in the event of non-compliance with any other of the requirements established in the regulatory regulations, they must be integrated into the tax base of the year being declared.

    In the case of cooperative societies , it must be moved to boxes [C10] of cooperative results and [E10] of extra-cooperative results on page 22 of form 200, the amount reflected in boxes [00403] or [00404], with a positive or negative sign, respectively, and if both boxes have content, the difference between both will be transferred , indicating a positive or negative sign, depending on whether box [00403] is greater or less (in absolute terms) than box [00404] (see Chapter 11 in relation to the Tax Regime of cooperatives).