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Practical Manual for Companies 2023.

Accounting revaluations

In the second paragraph of article 17.1 of the LIS it is established as a general rule that the value variations originated by the application of the reasonable value criterion have no fiscal effects, insofar as they should not be allocated to the profit and loss account, except:

  • the provisions of article 15.l) of the LIS be applied, for tax periods beginning on or after January 1, 2017,

  • should not be charged to a reserve account if so established by a legal or regulatory rule , for tax periods beginning on or after January 1, 2018.

Filling in form 200

If the taxpayer makes an accounting revaluation not covered by a legal or regulatory rule, he/she must make the following adjustments in boxes [00345] and [00346] "Accounting revaluations (art. 17.1 LIS)" on page 12 of form 200:

  • In the tax period in which the revaluation of the item has been accounted for to the result of the year, the amount thereof must be included in box [00346] of decreases.

  • In the tax period that records expenses linked to the revalued assets, the amount of the same must be included in box [00345] of increases. In the event that what is recorded is income , said amount must be included in box [00346] of decreases.