8.1.3.2.2. Chosen imputation criterion

The criteria for imputation of the positive income of the non-resident entity will be indicated, in accordance with the provisions of article 91.5 of the Tax Law:

• Tax period in which the entity's annual accounts are approved

  The taxpayer may choose to carry out the imputation in the tax period that includes the day on which the accounts corresponding to said fiscal year are approved, provided that no more than six months have elapsed from the date of its conclusion.

  The option will be expressed in the first tax return in which it is to take effect and must be maintained for three years.

• Tax period corresponding to the closing date of the fiscal year

  However, as a general rule, the imputation will be made in the tax period that includes the day on which the non-resident entity in Spanish territory has concluded its fiscal year which, for these purposes, cannot be understood to last longer than twelve months.