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V1664-14 30 June 2014 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · pérdidas por deterioro

Deterioro of shareholdings not to be included in taxable base after prior reversal

A company asked whether it should include deterioration of a shareholding in its 2013 taxable base following dividends from 2012 profits, which had already triggered a reversal of the deterioration in that year. The DGT stated that such inclusion is unnecessary to avoid an unfair fiscal treatment based on the date of profit distribution.

The question raised

Whether the receipt of a dividend in the 2013 financial year originating from results generated by the investee company in the immediately preceding 2012 financial year, and which already entailed the inclusion in the tax base of the consulting entity of the impairment losses on the value of its shareholding in its respective participation, implies that in the 2013 financial year no inclusion occurs of the impairment deducted in previous financial years for the amount of the said dividend received in 2013.

The DGT's ruling

The inclusion in the tax base of pending impairment losses for the amount of dividends received is not appropriate, provided that such dividends unequivocally correspond to profits from a financial year that already determined the reversal of part of said impairment in the previous financial year. The aim is to prevent the tax treatment from varying according to the date on which the investee entity distributes the profits obtained.

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