Continuing with the information that we have been providing you regarding the novelties introduced by RDL 3/2016, of December 2, which adopts measures in the tax field aimed at consolidating public finances and other urgent measures in social matters. , published in the BOE of December 3, we refer today to those that affect Corporation Tax.
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Amendments to the LIS with effect for tax periods beginning on or after January 1, 2016.
For tax periods beginning on or after January 1, 2016, the Real Decree-Law 3/2016, in its article 3. First, it introduces the following new features:
Adds a Fifteenth Additional Provision to Law 27/2014 of Tax on Companies (hereinafter LIS), in order to ensure that, in those periods where there is a positive tax base generated, the application of credits
taxes, when reducing the tax base or the total quota, do not reduce the amount to be paid in your whole. This new DA 15th LIS introduces the following most important innovations:
– Limitation to the compensation of Negative Taxable Bases of exercises above for large companies in the following percentages:
Companies with a net turnover of more than 60 million euros, 25 per 100;
Companies with net turnover between 20 and 60 million, 50 per 100.
– new limit for the application of deductions for double taxation generated or pending compensation, which is estimated at 50 per 100 of the full fee.
Modifies the Sixteenth Transitory Provision LIS, where it is provided that the reversal of losses due to impairment of participations that resulted tax deductible in tax periods prior to 2013 and that from that date are not, it must be made for a minimum annual amount, on a straight-line basis during five years.
It is worth remembering the existing tax treatment in relation to the impairment of shares. These impairments record in the accounting field the loss expected in the investor due to the decrease in the recoverable amount of the interest held with respect to of its acquisition value, without that loss having been realized. The incorporation of income in the taxable base of the Corporate Tax is currently built on the principle of realization, so that the impairment of value of participations in entities are not tax deductible since 2013, although those impairments that were previously registered and reduced the tax base, maintain a temporary reversion regime. All of this leads us to this widening measure of the tax base, which consists of a new reversal mechanism of those impairment of shares that were tax deductible in periods prior to 2013. This reversal is made for a minimum annual amount of linearly for five years. This royal decree-law establishes the incorporation
of the aforementioned impairments, as a minimum amount, notwithstanding that higher reversals result from the rules of general application, taking into account that these are estimated and unrealized losses that reduced the tax base of Spanish entities.
Amendments to the LIS with effect for tax periods beginning on or after January 1, 2017.
For tax periods beginning on or after January 1, 2017, the Real Decree-Law 3/2016, in its article 3. Second, it establishes the non-deductibility of the Losses made on the transfer of shares in entities provided that
in the case of shares with the right to exemption in positive income obtained, both in dividends and capital gains generated in the transfer of shares.
Likewise, any type of loss is excluded from integration in the tax base. generated by participation in entities located in tax havens or in territories that do not reach an adequate level of taxation.
In these cases, taking into account comparative law and the evolution of the regulatory proposals made by the European Union, it is advisable to adapt to to the analogous ones foreseen in neighboring countries, ruling out the incorporation of
any income, positive or negative, that may be generated by holding shares in other entities, through a true exemption regime.
For this reason, Royal Decree-Law 3/2016 modifies the LIS in the following points:
– Modifies article 11.10 LIS.
– Article 11.11 LIS is repealed.
– Article 13.2 LIS is amended.
– Letters k) and l) are added to article 15 LIS.
– Article 17.1 LIS is amended.
– Article 21 LIS is modified.
– Article 22 LIS is amended.
– Article 31 LIS is amended.
– Sections 6 and 7 of article 32 LIS are repealed.
– Article 88 LIS is amended.
Amendments to Law 20/1990 on the tax regime of cooperatives, with effect for tax periods beginning on January 1, 2016.
For tax periods beginning on or after January 1, 2016, the Real Decree-Law 3/2016, in its article 1, adds an Eighth Additional Provision to the Law 20/1990 on the Tax Regime of cooperatives to set the limits applicable to the
compensation of negative tax contributions:
In the case of cooperatives whose net turnover is at least 20 million euros during the 12 months prior to the date on which the period begins tax, the limit established in section 1 of article 24 of this Law will be replaced by the following:
– 50 percent, when in the aforementioned 12 months the net amount of the amount of business is at least 20 million euros but less than 60 million euros.
– 25 percent, when in the aforementioned 12 months the net amount of the figure of business is at least 60 million euros.
Amendments to Law 11/2009 regulating Listed Investment Companies in the Real Estate Market, with effect for tax periods beginning on January 1, 2017.
For tax periods beginning on or after January 1, 2017, the Real Decree-Law 3/2016, in its article 2, modifies letter a) of article 10.2 of the Law 11/2009 of SOCIMIs, and indicates that when the transferor or recipient is a
taxpayer of Corporate Tax or Income Tax of not Residents with a permanent establishment, the exemption will not apply established in article 21 LIS in relation to the positive income obtained.
For any information regarding tax news for 2017 that may affect your business, contact us through the Contact Form and our tax experts will contact you.
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