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Regulatory developments 2015

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Act 48/2015, of 29 October, on the general state budgets for 2016 (Official State Gazette of 31 October)

CORPORATION TAX

I. Reduction in income resulting from specific intangible assets

Article 62 modifies sections 1, 2 and 3 of article 23 of the Corporation Tax Act 27/2014, establishing that, taking effect from 1 July 2016, the calculation method of the tax incentive from the reduction of income from certain intangible assets is modified.

As from that date, the income referred to in Article 23(1) shall be entitled to a reduction in the taxable amount by the percentage resulting from multiplying the result of the following coefficient by 60 per cent:

  • Numerator:direct costs directly related to the creation of the asset, excluding those arising from subcontracting with related third parties, plus 30 per cent, the numerator not exceeding the amount of the denominator.
  • Denominator:direct costs directly related to the creation of the asset, and, where applicable, to the acquisition of the asset.

In no case shall financial expenses, repayments or other non-related expenses be directly included in the creation of the asset.

II. Obligation to file a corporate income tax return

Article 63 establishes, for taxpaying periods starting from 1 January 2015, that the taxpayers referred to in section 3 of article 9 of this Act are not obliged to file a tax return when they fulfil the following requirements:

  • their total income does not exceed 75,000 euros a year.
  • Revenue corresponding to non-exempt income shall not exceed €2,000 per year.
  • All non-exempt income obtained is subject to withholding.

III. Transitional regime for the reduction of income from certain intangible assets.

Article 64 amends, with effect from 1 July 2016, the twentieth transitional provision, allowing transfers of the right of use or exploitation of intangible assets made before 29 September 2013 to opt for the application of the regime of Article 23 regulated in RDL 4/2004 in the wording given by 16/2007.

IV.Conversion of assets for deferred tax as credit payable to the Tax Administration.

Article 65 modifies articles 11, 130 and the thirty-third transitory provision and it adds the thirteenth additional provision, for fiscal years starting from 1 January 2016.

  • A paragraph is added to section 12 of article 11 establishing the regime applicable to provisions for deterioration not deducted by the application of articles 13.1.a) and sections 1 and 2 of article 14.
  • Article 130 establishes as a limit to the conversion in credit payable to the Tax Administration, the amount equal to the positive net amount corresponding to the tax period of the generation of assets for deferred tax.
  • The thirteenth ADDITIONAL PROVISION establishes a patrimonial provision for the conversion of assets for deferred tax in credit payable to the Tax Administration consisting of 1.5 per cent of the total amount of these assets existing on the last day of the tax period corresponding to Corporation Tax.
  • The thirty-third transitory provision establishes the regime applicable to the conversion of assets for deferred tax generated in periods starting before 1 January 2016 in credit payable to the Tax Administration.
Ley 48/2015, de 29 de octubre,

de Presupuestos Generales del Estado para el año 2016.