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V2067-14 30 July 2014 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · consolidación fiscal

Savings banks excluded from a tax group must implement the reversal of value adjustments

A query was raised regarding whether, following an 'accordion operation' in 2012, savings banks that cease to be part of a tax consolidation group must apply the reversal of value adjustments. The Directorate General for Taxes (DGT) ruled that this provision is indeed applicable to this atypical tax consolidation group.

The question raised

Whether the effects provided for in Article 73.3 of the consolidated text of the Corporate Income Tax Law occur in the Savings Banks.

The DGT's ruling

Savings Banks excluded from the tax group due to the reduction of their participation shall incorporate the reversal of the valuation adjustment provided for in Article 12.3 of the TRLIS in the 2012 tax period. This occurs provided that the tax group continues to assume the right to offset the negative tax bases that determined said impairment. Said adjustment shall be incorporated into the individual tax base of each Savings Bank in the period of its exclusion.

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