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The inquiry asks whether the capitalization reserve allocated in a financial year must be excluded when calculating the increase in equity to apply the tax benefit in the following financial year. The DGT responds that said reserve must be taken into account to determine both the increase and the maintenance of equity.
Question posed: Whether, for the purposes of calculating the increase in equity to determine the basis for the capitalization reserve for the 2020 financial year, the capitalization reserve allocated in the 2020 financial year originating from the application of results from the 2019 financial year must be taken into account.
The capitalization reserve allocated pursuant to Article 25 of the LIS shall be taken into account to determine the increase in equity and its maintenance. It is not considered a reserve whose allocation is imposed by a legal provision for the purposes of the exclusion provided for in Article 25.2.d) of the LIS. Therefore, it is considered part of the equity at the beginning or end of the financial year, just like the rest of the non-excluded items.
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