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V0777-14 20 March 2014 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · gastos financieros netos

Implicit interest and subsidies on 0% loans count towards the financial expense limit

The applicant asks whether implicit interest on 0% loans, associated subsidies, and interest from commercial deferrals should be included in the calculation of net financial expenses. The DGT rules that they must be included, as they are related to corporate indebtedness.

The question raised

Whether the implicit interest recorded as expenses from 0% interest financing, the subsidy income associated with said loans, and the implicit interest income recorded in commercial transactions in which the consulting entity grants payment deferrals, must be taken into consideration for the calculation of net financial expenses in accordance with the definition contained in Article 20 of the TRLIS.

The DGT's ruling

To apply the limit set forth in Article 20 of the TRLIS, both expenses and income related to corporate indebtedness must be taken into account. This includes implicit interest associated with transactions and indebtedness commissions that form part of the accrued financial expenses. Likewise, income derived from the transfer of equity to third parties is included. In the specific case, the implicit interest of 0% interest loans, their associated subsidies, and interest income from commercial deferrals are considered financial expenses and income.

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