News published in INFORMA 2024

News published in INFORMA in February

The concept of contributions from partners must be understood in a broad sense , both monetary and non-monetary contributions, in the form of share capital, issue premium or any other contribution that is not reimbursable and, therefore, must part of the equity on the entity's balance sheet.

For the purposes of the provisions of article 25.2.a) of the LIS , capital reductions should not be computed when determining the increase in equity, nor compliance with the requirement of maintaining said increase, to the extent that contributions from partners should not be computed either.

Formal compliance with the requirement for the provision of the unavailable reserve will be deemed to have been fulfilled whenever it occurs within the period legally provided for in commercial regulations for the approval of the annual accounts of the fiscal year corresponding to the tax period in which the reduction is applied through the appropriate reclassification of the reserves.

For the purposes of providing for the capitalisation reserve , it is understood that the transfer to voluntary reserves of the equalisation reserve, after having been released over time, determines an increase in equity that must be taken into consideration for the purposes of calculating the reduction provided for in article 25 of the LIS.

The returns obtained by the Irrigation Communities as compensation for the transfer of water use rights for irrigation to other Irrigation Communities in the same basin, constitute returns from an economic activity and, therefore, will not be covered by the exemption provided for in article 110.1 a) of the LIS.