Completion of the table "Limiting the deductibility of financial expenses" (page 20 of Form 200)
In addition to making the corresponding adjustments for the application of the limitation on the deductibility of financial expenses, taxpayers must complete the three sections of this table on page 20 of Form 200 in the manner explained below.
Keep in mind:
Entities that pay taxes under the tax consolidation regime and have therefore checked boxes [00009] and [00010] on page 1 of Form 200, must complete the data referred to in boxes [00363] and [00364] "Adjustments for the limitation on deductibility of financial expenses (art. 16 LIS )" on page 12 of Form 200 mentioned above, but not the data on page 20 of Form 200, which must be included on the corresponding pages of Form 220.
1. Limitation on the deductibility of financial expenses. Art. 16 LIS (excluding those referred to in art. 15 g), h) and 15 bis LIS)
In this section, boxes [01240] to [01259] detail the different concepts classified in letters a) to am) that the entity must complete, where appropriate, in application of the different rules on the limitation on the deductibility of financial expenses established in article 16 of the LIS.
All these concepts, which in certain cases involve performing arithmetic operations, are divided in this section into two blocks: one, which corresponds to the application of the additional limit established for financial expenses derived from debts intended for the acquisition of shares in the capital or equity of any type of entities established in articles 16.5 and/or 83 of the LIS (boxes [01240] to [01244]); and another, which refers to the application of the limit established for net financial expenses regulated in article 16.1 and 2 of the LIS (boxes [01245] to [01259]).
Keep in mind:
If the net deductible financial expenses in the period (generated in the period itself and in previous periods applied) are less than 30 percent of [i1+i2+i3+i4+i5], and €1,000,000 the amount to be entered in box [01249] is 30 percent of [abcd + e] and if they are greater than €1,000,000 the amount to be entered in box [01249] is the greater of 30 percent of [i1+i2+i3+i4+i5] or €1,000,000.
The limit of €1,000,000 must be prorated, where applicable, based on the number of days in the tax period with respect to the year.
As regards box [01248], if the financial income for the tax period derived from the transfer of equity (box [01247]) is higher than the financial expenses for the tax period excluding those referred to in letters g) and h) of article 15 and article 15 bis of the LIS, the financial expenses for the tax period not affected by article 16.5 and 83 of the LIS, the financial expenses for the tax period derived from debts for the acquisition of shares affected by articles 16.5 and 83 of the LIS and the net financial expenses for the period not deductible by application of the limit of articles 16.5 and 83 of the LIS (boxes [01246], [01245], [01240] and [01243], respectively), the amount to be entered in box [01248] is zero.
2. Limitation on the deductibility of financial expenses. Financial expenses pending deduction
In this section the entity must record:
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In column "Pending application at the beginning of the period. According to limit 16.5 and 83 LIS» , the financial expenses derived from debts destined to the acquisition of shares in the capital or equity of any type of entities generated in the tax periods corresponding to 2015, 2016, 2017, 2018, 2019, 2020, 2021 and 2022 respectively, and that at the beginning of the tax period subject to declaration, are pending deduction by application of the limitation regulated in articles 16.5 and 83 of the LIS.
The rows corresponding to the years 2012, 2013, 2014 and 2023(**) for the generation of financial expenses pending application will remain closed for the tax period
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In column "Pending application at the beginning of the period. Rest» , the entity must include the net financial expenses generated in the tax periods 2012 to 2022, and which at the beginning of the tax period subject to declaration are pending deduction by application of the limit established in article 16.1 of the LIS; as well as financial expenses derived from debts intended for the acquisition of shares in the capital or equity of any type of entities generated in said periods that, complying with the limit established in articles 16.5 and 83 of the LIS, were not deductible in previous tax periods due to the application of the limit provided for in article 16.1 of said regulation.
The "row 2023(**)" for the generation of financial expenses pending application will remain closed for the 2023 tax period, so it should not be completed.
In boxes [01188], [01193], [01198], [01203], [01463], [01737], [01978], [02254], [02400], [01099] and [01394], the entity shall record the financial expenses generated in the tax periods corresponding to 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021 and 2022 respectively, which are pending deduction in the period subject to declaration in accordance with the provisions of the previous paragraph.
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In column "Applied in this settlement" , the entity must record the amount of the financial expenses generated in the tax periods 2012 to 2022 pending deduction, included in the column "Pending application at the beginning of the period", applied in the tax period subject to declaration.
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In column "Pending application in future periods. By limit 16.5 and 83 LIS» , the entity will record the financial expenses pending application in future tax periods generated, in accordance with the above, in tax periods 2015 to 2022, respectively.
The rows corresponding to the 2012, 2013, and 2014 financial years for the generation of pending financial expenses will remain closed for the 2023 tax period, so they do not need to be completed.
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In column "Pending application in future periods. Rest» , the net financial expenses pending deduction in future tax periods will be included, which have not been subject to deduction in the tax periods 2012 to 2022 by application of the limit established in article 16.1 of the LIS, and, likewise, the financial expenses derived from debts destined to the acquisition of shares in the capital or equity of any type of entities, which, complying with the limit of articles 16.5 and 83 of the LIS, are pending deduction by application of the limit established in article 16.1 of said regulation.
Common note for completing this section 2:
This section must only be completed when amounts corresponding to the excess of operating profit limits from previous years are applied in the year, or when an amount must appear in the column that includes the excesses over the operating profit limit pending application in future periods.
The "row 2023(*)" will only be completed when the entity has net financial expenses pending application in future tax periods, which have been generated in another tax period starting in 2023, but less than 12 months and prior to the one declared.
The "row 2023(**)" will only be completed when the entity has financial expenses pending application in future tax periods, accrued in the tax period itself, deductible in future tax periods.
3. Pending addition due to unapplied operating profit limit
The amounts to be entered in this section on page 20 of form 200 will be those that in each and every case correspond to the difference between the limit established in section 1 of article 16 of the LIS and the net financial expenses, referred to in section 2 of that article and in accordance with the provisions of this last section:
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In column "Amount generated. Pending application at the beginning of the period» , the entity will record the amount generated in the tax periods 2018 to 2022, which is pending application at the beginning of the tax period subject to declaration.
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In column "Applied in this settlement" , the part of the amounts recorded in the previous column "Amount generated" must be included. Pending application at the beginning of the period" corresponding to the tax periods 2018 to 2022, which is applied in the tax period subject to declaration.
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In column "Pending application in future periods" , the entity will record the positive difference between the amounts relating to the tax periods 2018 to 2022, which have been recorded in the columns "Amount generated. “Pending application at beginning of period” and “Applied in this settlement”. The resulting amount can be applied in future tax periods.
The row in this column corresponding to the 2018 fiscal year for generating the amounts pending addition due to the limit on unapplied operating profit that remain pending for application in future periods will remain closed for the 2023 tax period, so they do not need to be completed.
Common note for completing this section 3:
This section should only be completed when excess operating profit limits from previous years are applied in the year or when an amount must appear in the column that includes excesses over the operating profit limit pending application in future periods.
The "row 2023(*)" will only be completed when the entity has a pending addition due to the operating profit limit not applied for another tax period starting in 2023, but less than 12 months and prior to the declared one.
The "row 2023(**)" will only be completed when the entity has pending addition due to the limit of the unapplied operating profit, generated in the tax period itself, applicable in the next tax periods.