News published in INFORMA 2018

Changes made in INFORMA in JULY

For the tax periods commencing after 1 January 2018, capital risk organizations governed by Act 22/2014, are exempt from the obligation of applying the minimum instalment amount.

From 5 July 2018, the powers of the tax administration have been extended to checking the right to convert assets for deferred tax into credit payable to the Tax Administration.

From 5 July 2018, foreign film producers must comply with specific requirements to be eligible for the tax incentive of article 36.2 LIS.

If, in a taxable period, negative incomes derived from the transfer of intangible assets are obtained due to expenses exceeding income, in specific circumstances the loss will be reduced by the resulting percentage in accordance with the coefficient of article 23.1 of the Spanish Corporation Tax Act.

Positive income is considered to be income that exceeds the sum of the expenses incurred by the entity that are directly related to the creation of the assets that have not been incorporated into the value of the assets, the amounts deducted by application of article 12.2 of the Spanish Corporation Tax in relation to the assets, and the expenses directly related to assets which were integrated into the gross taxable base.

With effect from 1 January 2018, the elements that comprise the denominator of the coefficient referred to in article 23.1 of the Spanish Corporation Tax Act are clarified.

Positive income from the transfer of the legally protected right of use or exploitation of patents, utility models, supplementary protection certificates for medicines and plant health products, designs and models derived from research and development and technological innovation activities, and registered advanced software derived from research and development activities, will be entitled to the gross taxable base reduction.

The reimbursement of the surplus of contributions accounted for as an expense and deducted fiscally must be declared as income in the Corporation Tax gross taxable base in the tax period in which the right to reimbursement is acknowledged.