Royal Decree 634/2015, July 10, Which Approves The Regulation Of Tax.

Original Language Title: Real Decreto 634/2015, de 10 de julio, por el que se aprueba el Reglamento del Impuesto sobre Sociedades.

Read the untranslated law here: http://www.boe.es/buscar/doc.php?id=BOE-A-2015-7771

I La Ley 27/2014, of 27 November, the corporation tax, has established a new regulation of this figure tax, basic pillar of direct taxation jointly with the tax on the income of physical persons. While this new regulation has maintained the structure of corporation tax that already existed since 1996, there have been significant changes in the tax treatment of certain incomes object integration tax base.

The approval of this new law requires a comprehensive review of the regulatory standard that necessarily accompanies the corporation tax, so that regulation which is adopted through Royal Decree has the double function of adaptation to the new parameters established by law 27/2014 and arranged rules in the update.

II this Royal Decree consists of a single article, an additional provision, a derogatory and three finals.

The only article approves the text of the regulation of the tax.

The additional provision allows that made references to the previous regulation of tax, approved by the Royal Decree 1777 / 2004, of 30 July, is understood to be made to the regulations of the tax approved in this Royal Decree.

Repealing provision includes the repeal of the aforementioned Royal Decree.

In the first final provision amending the regulation of friendly procedures in the field of direct taxation, approved by the Royal Decree 1794 / 2008, of 3 November, in order to reorder the competencies to perform the duties provided for in that regulation, so that the condition of competent authority will fall on the State tax administration agency in the case of exclusively relating to transfer pricing cases, while in the rest of cases, that condition the General direction of tributes will have it.

The second final provision regulates the competence title.

The third final provision has the entry into force of the Royal Decree, including certain specificities regarding the own entry into force and the application of certain provisions in the regulation.

III the development regulation of the tax subject to approval in this Royal Decree is carried out under the qualifications contained in the articles of the tax law, in the final provision ten of the Act and article 93 of law 58/2003, of December 17, General tax. This regulation consists of 69 items divided into four titles, an additional provision, five transitional provisions and final disposition.

Title I is intended for taxable.

Within the same chapter I establishes the procedure to be followed for those cases in the taxpayer to use a temporary allocation method in the accounting field other than the accrual, procedure that is similar to that provided in the previous regulation.

Chapter II contains an update on the regulatory development applicable to depreciation, taking into account that the existence of a new chart of accounts, approved by the Royal Decree 1514 / 2007 of 16 November, subsequent to the previous regulation makes unnecessary certain specific rules of application referred to in this. However, easing contained regarding the possibility of presenting special repayment plans at any time within the period of amortization of the asset, while so far this possibility was restricted to the three months after the start of the repayment term is remarkable in the field of depreciation.

Chapter III contains special rules for tax deductibility of the coverage of credit risk in financial institutions, in the same terms set out in the previous applicable regulations.

Chapter IV regulating expenditure on environmental actions plans and plans of spending and investment of neighborhood montes in common hand holders communities.

Chapter V contains the main novelty of this regulation, incorporating substantial modifications in relation to entities and related operations. At the present time, it is absolutely essential to echo the conclusions are adopted in the Plan of action «BEPS», that is, the Plan of action against the erosion of the tax base and the transfer of profits, which is elaborated in the context of the OECD, and in particular in relation to the action 13 concerning information and documentation of the entities and related-party transactions. Precisely, on this basis, is introduced as a new information country by country, finding legal cover in the final tenth of the tax law provision and article 93 of law 58/2003, of December 17, General tax, as an instrument allowing to evaluate the risks in the transfer of a commercial group pricing policy , unless any such instrument can serve basis for the tax administration to make price adjustments. This information will be required from 2016, under the terms and conditions that have been set in the OECD. On the other hand, modifies the specific documentation of operations linked to referred to the tax law, by completing, on the one hand, the necessary simplification of such documentation for bodies with a net amount of less than EUR 45 million turnover and adapting, on the other hand, to the content of the documentation referred to in the OECD. At this point, it is noteworthy that while the documentation is considerably reduced to demand from small and medium-sized entities, significantly simplifying their administrative burden, increases the demand for transparency that the current governance requires with respect to multinationals.

Chapter VI lays down the rules for the determination of the analysis of comparability required in the specific documentation, and updates the procedure of verification of the related-party transactions, taking into account that it is not confined exclusively to a valuation assumption. Finally, this chapter regulates the option to avoid the secondary adjustment through assets restitution.

Chapters VII, IX and X regulate procedures for obtaining of prior agreements, whether assessment of related-party transactions, of assessment of expenditure on projects of scientific research and technological innovation or qualification and assessment of income from certain intangible assets.

For its part, Chapter VIII contains the documentation that should accompany transactions with persons or residents not related entities in tax havens.

Title II picks up the limits for audiovisual aid scheme established by Regulation (EU) No. 651/2014 of the Committee, on 17 June, by which declare certain categories of aid compatible with the internal market in application of articles 107 and 108 of the Treaty, commonly known as the General block exemption regulation by category.

Title III is dedicated to the rules of application of certain special schemes, with 7 chapters intended, respectively, to temporary unions of companies and economic interest groups, fiscal consolidation, restructuring operations, certain finance lease contracts, holdings of foreign securities institutions, shipping authorities and political parties. All of them include the adaptation of the formal obligations to the tax consolidation system to the new delimitation of the scope of consolidation. The disappearance of the option in the scheme of restructuring operations can also lower formal obligations in this special scheme.

Finally, title IV is intended to tax management, dedicated chapter I index of entities, the tax refund and the obligations of cooperation with external entities on the presentation and management of statements, and chapter II obligations to retain and enter account. A new chapter III is incorporated to regulate the procedure of compensation and payment of deferred tax assets, when his conversion on payable credits for public finances.

All this is complemented by an additional provision, five transitional provisions and final disposition and a table of contents to facilitate the use of the standard is also incorporated.

By virtue, on the proposal of the Minister of finance and public administration, in accordance with the Council of State and after deliberation by the Council of Ministers at its meeting of July 10, 2015, have: single article. Approval of the regulation of the tax.

Approves the regulation of tax, which is then inserted.

Sole additional provision. Regulatory referrals.

The normative references made to other provisions in the regulations of the tax, approved by the Royal Decree 1777 / 2004, of 30 July, shall be deemed performed to the relevant precepts of the regulation that was approved by Royal Decree.

Sole repeal provision. Repeal legislation.
On the entry into force of this Royal Decree shall be repealed the Royal Decree 1777 / 2004, of 30 July, which approves the regulation of the tax, with the exception of the provisions of the final disposition of this Royal Decree.

First final provision. Modification of the regulation of friendly procedures in the field of direct taxation, approved by the Royal Decree 1794 / 2008, of 3 November.

With effect from January 1, 2016, the following changes are introduced in the regulation of friendly procedures in the field of direct taxation, approved by the Royal Decree 1794 / 2008, of 3 November: one. Amending article 2 which is worded as follows: 'article 2. Competent authority.

The competent authority to perform the duties regulated by this Regulation shall be: to) in General, the General direction of tributes.

b) the State tax administration in the case of the procedures regulated in title III of this regulation, as well as the regulated under Title II when they relate to the application of the articles of the conventions to avoid double taxation which regulate corporate profits with permanent establishment and the associated companies.

Friendly procedures that are of joint competence will be coordinated by the General direction of tributes.

Corresponds to the competent authority the impulse of the performances.»

Two. Amending paragraph 1 of article 9 which is drawn up in the following way: «1. instruction of the procedure, as well as the fixing of the Spanish position, will be up to the competent authority.»

The instruction of procedures that are joint competence of the Directorate-General of taxes and the State tax administration agency will be coordinated by the General direction of tributes. The Spanish position shall be determined jointly by the two competent authorities.»

3. Amending paragraph 1 of article 19 which is drawn up in the following way: «1. instruction of the procedure as well as the fixing of the Spanish position corresponds to the competent authority.»

The instruction of procedures that are joint competence of the Directorate-General of taxes and the State tax administration agency will be coordinated by the General direction of tributes."

Second final provision. Skill-related title.

This Royal Decree is approved under cover of the provisions of article 149.1.14. ª of the Constitution, which attributes to the State the competence in the field of general finance.

Third final provision. Entry into force.

This Royal Decree shall enter into force the day following its publication in the "Official Gazette".

Regulation of the tax will apply to the tax periods initiated from 1 January 2015, except article 14 which will enter into force in tax periods started from January 1, 2016.

In the case of persons or entities whose net amount of turnover, defined in the terms established in article 101 of the law 27/2014, of 27 November, of the tax is equal to or superior to EUR 45 million, information and specific documentation laid down in articles 15 and 16 of the regulation will be applicable for tax periods starting from 1 January 2016. In the tax periods starting in 2015, these persons or entities shall be subject to the documentation obligations under articles 18, 19 and 20 of the regulations of the tax, approved by the Royal Decree 1777 / 2004, of 30 July.

Given in Madrid on July 10, 2015.

PHILIP R.

The Minister of finance and public administration, CRISTOBAL MONTORO ROMERO tax regulation index title I. The tax base.

Chapter i. Temporal allocation of income and expenses: approval of criteria other than the accrual.

Article 1. Approval of temporary allocation criteria other than the accrual.

Article 2. Competent body.

Chapter II. Depreciation.

Article 3. Depreciation of assets of material, intangible assets and investment property: common rules.

Article 4. Depreciation according to the established in the law of tax depreciation table.

Article 5. According to constant percentage depreciation.

Article 6. Depreciation according to digits numbers.

Article 7. Repayment plans.

Chapter III. Coverage of financial institutions credit risk.

Article 8. Scope of application.

Article 9. Credit risk coverage.

Chapter IV. Expenditure on environmental actions plans. Special plans of investment and expenditure of holders hills neighborhood communities in common.

Article 10. Expenditure on environmental actions plans.

Article 11. Special plans of investment and expenditure of holders hills neighborhood communities in common.

Article 12. Competent body.

Chapter V. information and documentation on entities and related-party transactions.

Section 1 General elements of information and documentation on entities and related-party transactions.

Article 13. Information and documentation on entities and related-party transactions.

Section 2 information country by country.

Article 14. Information country by country.

Section 3 specific documentation.

Article 15. Specific documentation of the group to which belongs the taxpayer.

Article 16. The taxpayer-specific documentation.

Chapter VI. Rules of valuation and related-party transactions checking procedure.

Section 1 determination of the market value of the related-party transactions. Specific rules.

Article 17. Determination of the market value of the related-party transactions: comparability analysis.

Article 18. Requirements of the arrangements entered into between persons or entities related costs.

Section 2 checking of the related-party transactions.

Article 19. Verification of the related-party transactions.

Section 3 financial restitution.

Article 20. Property restitution for the differences between the agreed value and the market value of the related-party transactions.

Chapter VII. Previous agreements for the evaluation of transactions between persons or entities linked.

Section 1 previous agreements for the evaluation of transactions between persons or entities linked.

Article 21. Previous actions.

Article 22. Commencement of the procedure.

Article 23. Regime of the documentation submitted.

Article 24. Processing.

Article 25. Termination and effects of the agreement.

Article 26. Resources.

Article 27. Competent bodies.

Article 28. Information on the implementation of the agreement for the assessment of transactions with persons or entities related.

Article 29. Modification of the previous valuation agreement.

Article 30. Extension of the previous agreement of valuation.

Section 2 previous agreements for the evaluation of operations with other tax administrations.

Article 31. Procedure for the agreement of operations linked with other public administrations.

Article 32. Commencement of the procedure.

Article 33. Processing.

Article 34. Resolution.

Article 35. Competent bodies.

Article 36. Application of other tax administration.

Chapter VIII. Documentation of operations with persons or residents not related entities in tax havens.

Article 37. Documentation of operations with persons or residents not related entities in tax havens.

Chapter IX. Prior assessment of expenditure on scientific research or technological innovation projects.

Article 38. Prior assessment of expenditure on scientific research or technological innovation projects.

Chapter x Previous agreements of valuation or classification and valuation of income from certain intangible assets.

Article 39. Commencement of the procedure.

Article 40. Processing.

Article 41. Termination and effects of the agreement.

Article 42. Competent body.

Article 43. Modification of the agreement of valuation or classification and valuation.

Article 44. Extension of the previous agreement of valuation or the prior approval of classification and valuation.

Title II. Limits on the aid deriving from the application of the law of the European Union.

Article 45. Limits of the accumulation of aid to the film industry.

Title III. Rules for the application of certain special schemes.

Chapter i. Economic interest groupings Spanish and European, temporary unions of companies.

Article 46. Temporary unions of companies and economic interest groupings, Spanish and European obligations.

Chapter II. Tax consolidation system.

Article 47. Application and obligations of information of the entities under the tax consolidation system.

Chapter III. Regime for mergers, divisions and contributions of assets, an exchange of values and change of registered office of a European company or a cooperative Europe society of one Member State of the European Union to the other.

Article 48. Communication from the special scheme.

Article 49. Content of the communication.

Chapter IV. Taxation of certain finance lease contracts.

Article 50. Leasing contracts.

Chapter V. regime of holdings of foreign securities institutions.
Article 51. Communication of choice and the resignation in the regime of holdings of foreign securities institutions.

Chapter VI. Regime of the shipping entities depending on the tonnage.

Article 52. Scope of application: operation of ships.

Article 53. Procedure of application of the regime.

Article 54. Resignation and failure to comply with the regime.

Chapter VII. Political parties.

Article 55. Exempt of political parties economic holdings in corporation tax.

Article 56. Accreditation for the purposes of the exclusion from the obligation of withholding or paying on account with respect to the exempt income perceived by the political parties.

Title IV. Tax management.

Chapter i. Index of entities, return and partnership obligations.

Article 57. Index of entities.

Article 58. Return.

Article 59. External collaboration in the presentation and management of statements.

Chapter II. Obligation to retain and access account.

Article 60. Income subject to withholding or income account.

Article 61. Exceptions to the obligation to retain and access account.

Article 62. Subjects bound to retain or make an income account.

Article 63. Evaluation of financial assets and tax requirements for transmission, repayment and amortization of financial assets.

Article 64. Basis for the calculation of the obligation to retain and access account.

Article 65. Birth of the obligation to retain and access account.

Article 66. Percentage of retention and income into account.

Article 67. The amount of retention or deposit account.

Article 68. The retainer and the obligor's obligations into account.

Chapter III. Conversion of assets for tax deferred in due debts owed by the Treasury. Check / payment procedure.

Article 69. Procedure of compensation and payment of due debts owed by the Treasury.

Sole additional provision. Concept of patrimonial entity in tax periods that are initiated prior to 1 January 2015.

First transitional provision. Amortization of elements used.

Second transitional provision. Financial institutions credit risk.

Third transitional provision. Transitional regime of tax benefits on certain financial transactions.

Fourth transitional provision. Transient changes in terms of deductions on the income from the capital and capital gains.

Fifth transitional provision. Obligations of the fourteenth transitory provision of the tax law information.

Final disposition. Enabling the Minister of finance and public administration.

Title I the base taxable temporary chapter I allocation of income and expenses: approval of criteria other than the accrual article 1. Approval of temporary allocation criteria other than the accrual.

1. institutions that use, for accounting purposes, a temporary allocation of income and expenses criteria different from the accrual must submit an application to the tax administration referred criterion to ensure tax efficiency.

2 the application must contain the following information: a) description of the income and expenditure affected by the temporary allocation criteria, making recorded, in addition to its nature, its importance in all the operations of the taxpayer.

(b) description of the criterion of temporary imputation whose fiscal efficiency is sought. In the event that the temporary allocation criterion is mandatory must be the accounting standard established such obligation.

(c) justification of the adequacy of the proposed temporary allocation criteria to the faithful image which should provide annual accounts and explanation of its influence on heritage, the financial situation and the results of the taxpayer.

(d) description of incidence, for tax purposes, of the temporary allocation criteria.

3. the application shall be filed with, at least 6 months in advance of the conclusion of the first tax period regarding which is intended to have effects.

The taxpayer may withdraw the request formulated.

4. the tax administration may request the taxpayer how much data, reports, records and supporting documents are needed.

The contributor may, at any time in the previous procedure to the hearing process, the appeals and provide documents and supporting documents that it deems appropriate.

5 Instruido the procedure, and immediately before drafting the motion for a resolution, will be revealed to taxpayers, who will have 15 days to make the declarations alegaciones and submit documents and justifications that it deems appropriate.

6 the resolution putting an end to the procedure you can: to) approve the temporary allocation of income and expenses criteria formulated by the taxpayer.

(b) reject the criterion of temporary allocation of income and expenditure made by the taxpayer.

The resolution will be motivated.

The procedure must finish before 6 months, counting from the date that the application has had input in any of the records of the competent administrative body or from the date of correction of the same at the request of that authority.

7 after the term referred to the preceding paragraph without having produced an express resolution, means approved the temporary allocation of income and expenses criteria used by the taxpayer.

Article 2. Competent body.

It will be competent to instruct and resolve the procedure the body of the State tax administration agency concerned in accordance with its rules of organizational structure.

Chapter II amortization article 3. Depreciation of assets of material, intangible assets and investment property: common rules.

1. deemed that the depreciation of the assets of material, intangible assets and investment property is effective when it is the result of applying any of the methods provided for in paragraph 1 of article 12 of the tax law.

2. the price of acquisition or production cost, excluded, in their case, the residual value will be amortizable. In the case of buildings, will not be amortizable part of the purchase price corresponding to the value of the excluded ground, if any, rehabilitation costs. When the value of the floor is not known shall be calculated prorating the purchase price between the cadastral values of the soil and the construction in the year of acquisition. However, the taxpayer may use a criterion of distribution of the different purchase price, when proven that this criterion is based on the normal value of the soil and the construction market in the year of acquisition.

3. the assets of tangible and real estate investments will begin to pay for itself since its implementation in operating conditions and intangible fixed assets from the time they are able to produce income.

The assets of material, intangible assets and investment property should pay for itself within the period of its useful life.

4. when renovations, extensions or enhancements to the asset items of plant and equipment and investment property be incorporated to the said fixed assets the amount thereof is amortised during the tax periods remaining to complete the useful life of the related assets. For this purpose, the result of applying the amount of renovations, extensions or improvements will fall within each tax period the coefficient resulting from dividing the accounted depreciation of the asset practiced in each tax period, insofar as it corresponds to the effective depreciation, between the book value that the asset had at the beginning of the tax period in which renewal operations were performed extension or improvement.

The assets that have been the subject of renewal, extension or improvement operations, will continue to be amortized method had been applied prior to the realization of the same.

When the operations referred to in this section conclude a lengthening of the estimated useful life of the asset, said enlargement should be taken into account for the purposes of the amortization of the asset and the amount of the renewal, extension or improvement.

5. the rules of the previous paragraph shall also apply in the case of accounting revaluations made under statutory or regulatory rules that force to include the amount in the accounting profit.

6. in the event of merger, split, total and partial, and contribution, must be pursued for each asset acquired the depreciation method to which it was subject, unless the taxpayer prefer applying to them his own method of depreciation.

Article 4. Depreciation according to the established in the law of tax depreciation table.

1 when the taxpayer used the method according to the established in the law of tax depreciation table, depreciation shall be effective if it corresponds to the result of applying the price of acquisition or production cost of the asset fixed assets any of the following coefficients: to) the maximum straight-line depreciation coefficient laid down in the table.
(b) the coefficient of linear depreciation resulting from the maximum amortization period set forth in the table.

(c) any other linear depreciation coefficient between the two previously mentioned.

For the purposes of applying provisions in paragraph 3.1. ° of the article 11 of the tax law, when an asset has been amortized accounted for in any tax period for an amount less than the calculated by applying the coefficient referred to in point (b)), means that the excess of the depreciation accounted for in subsequent tax periods with respect to the amount resulting from the application of provisions in the letter to) previous (, corresponds to the tax period cited in the first place, up to the amount of depreciation that was reciprocated by application of the provisions of the aforementioned letter b) above.

2 when an asset is used daily in more than one normal work shift, may be amortized according to the ratio formed by the sum of: a) the coefficient of linear depreciation resulting from the maximum period of repayment, and b) the result of multiplying the difference between the maximum straight-line depreciation coefficient and coefficient of linear depreciation resulting from the maximum amortization period , by the ratio between the hours usually worked and eight hours.

The provisions of this section shall not apply to those elements which, by its technical nature, should be used on an ongoing basis.

3 case of assets, plant and equipment and investment properties purchased used, i.e., that not be released operating conditions for the first time, the calculation of the depreciation shall be carried out in accordance with the following criteria: to) on the purchase price, up to the limit resulting from multiplying by 2 the amount derived from applying the maximum coefficient of linear depreciation.

(b) if the original production cost price is known, this can be taken as a basis for the application of the maximum straight-line depreciation coefficient.

(c) if the original production cost price is not known, the taxpayer may determine that pericialmente. Set the price of acquisition or production cost shall be as laid down in the previous letter.

For used assets acquired to entities belonging to the same group of companies, according to the criteria laid down in article 42 of the code of Commerce, irrespective of the residence and the obligation to formulate consolidated annual accounts, the depreciation shall be calculated in accordance with point (b)), except if the purchase price would have been higher than originally in which case the deductible depreciation will be limit the result of applying the acquisition price maximum straight-line depreciation coefficient.

For the purposes of this section not be considered as assets used buildings whose age is less than ten years.

Article 5. According to constant percentage depreciation.

1 when the taxpayer used the depreciation according to constant percentage method, depreciation shall be effective if it corresponds to the result of applying a constant percentage to be determined pondering any of the coefficients resulting from the implementation of the table of depreciation set in paragraph 1 of article 12 of the tax law by the following coefficients to the pending of amortization of the asset value (: a) 1.5, if the asset has a less than 5 years payback period.

(b) 2, if the asset has a payback period equal to or greater than 5 and less than 8 years.

(c) 2.5, if the asset has a payback period equal to or greater than 8 years.

The repayment period will be that corresponding to the chosen coefficient of linear depreciation.

In any case the constant percentage may be lower than 11 percent.

The outstanding amount of pay in the tax period in which occurs the conclusion of life are amortised in that tax period.

2 buildings, furniture and furnishings may not amortize by means of the method according to constant percentage.

3. the acquired assets used may pay for itself by using the method of depreciation according to percentage constant, applying the constant percentage referred to in paragraph 1.

Article 6. Depreciation according to digits numbers.

1 when the taxpayer use the method of depreciation according to numbers digits depreciation shall be effective if the share of depreciation is obtained by applying the following method: to) the sum of digits by adding the numerical values assigned to the years in which has been amortized the asset will be obtained. For these purposes, will be assigned the numeric value greater than the number of years that has amortized the asset year that depreciation should start, and for the following years, successively decreasing numerical values into one unit, until you reach the last considered for amortization, which will have a numerical value equal to the unit.

The assignment of numerical values may also be effected in reverse to that provided for in the preceding paragraph.

The repayment period may be either falling between the maximum period and which is deducted from the maximum straight-line depreciation coefficient according to the established in the law of tax depreciation table, both inclusive.

(b) the price of acquisition or production cost divided between the sum of digits obtained according to the previous paragraph, thus determining the fee by digit.

c) multiply the fee by digit by the numeric value that corresponds to the tax period.

2. the buildings, furniture and furnishings may not amortize by using the method of depreciation according to digits numbers.

3. the acquired assets used may pay for itself by using the method of depreciation according to numbers digits, in accordance with paragraph 1.

Article 7. Repayment plans.

1. taxpayers may propose a plan for the amortization of the asset items of material, intangible assets or real estate investments to the tax administration.

2 the application must contain the following information: a) description of the assets object of the special amortization schedule, indicating the activity to which they are attached and its location.

(b) depreciation method proposed, indicating the timing of repayments that are derived from the same.

(c) justification of the proposed method.

(d) price of acquisition or production cost of the assets.

(e) date of commencement of the depreciation of the assets.

In the case of assets under construction, indicate the expected date that depreciation should start.

3. the request shall be submitted within the period of construction or depreciation of the assets.

The taxpayer may withdraw the request formulated.

4. the tax administration may request the taxpayer how much data, reports, records and supporting documents are needed.

The contributor may, at any time in the previous procedure to the hearing process, the appeals and provide documents and supporting documents that it deems appropriate.

5 Instruido the procedure, and immediately before drafting the motion for a resolution, will be revealed to taxpayers, who will have 15 days to make the declarations alegaciones and submit documents and justifications that it deems appropriate.

6 the resolution putting an end to the procedure you can: to) approve the amortization plan formulated by the taxpayer.

(b) approve, with the acceptance of the taxpayer, an amortization schedule that differs from the one initially presented.

(c) dismiss the amortization plan formulated by the taxpayer.

The resolution will be motivated.

The procedure shall end prior to three months from the date that the application has had input in any of the records of the competent administrative body or from the date of correction of the same at the request of that authority.

7 after the deadline referred to in the preceding paragraph, without have been an express resolution, means approved repayment plan formulated by the taxpayer.

8. the approved repayment plan has effect for the tax periods that end after the presentation of the same, unless a different date is expressly established.

9. the approved repayment plans may be amended at the request of the taxpayer, observing the rules laid down in the preceding paragraphs. Such application shall be in the tax period in which must take effect such modification.
10 approved repayment plans may be applied to those other asset items of identical characteristics which amortisation will start before the course of 3 years from the date of notification of the agreement's approval of the plan of redemption, provided that remain substantially the circumstances of physical, technological, legal, and economic determinants of the approved depreciation method. Such application shall be subject to the State tax administration agency communication prior to the end of the tax period in which should take effect.

11 shall be competent to instruct and solve the record the organ of the State tax administration agency concerned in accordance with its rules of organizational structure.

Chapter III coverage of article 8 financial institutions credit risk. Scope of application.

The provisions of this chapter shall apply to credit institutions forced to formulate their annual accounts in accordance with the rules laid down by the Bank of Spain, as well as to branches of credit institutions resident abroad in Spain.

Also, will apply to funds of securitisation referred to in title III of the law 5/2015, of 27 April, promotion of business financing, in relation to the deductibility of the valuation corrections debt instruments valued by amortised cost impairment.

Article 9. Credit risk coverage.

1. the appropriations corresponding to the credit risk coverage, up to the amount of the minimum amounts provided for in the rules laid down by the Bank of Spain will be deductible.

2 will not be deductible allowance for losses with respect to credits then cited, unless they are subject of arbitral or judicial proceedings on its existence or amount: to) the due or secured by public law bodies.

b) the guaranteed property rights, retention of title agreements and right of retention, where the object of the aforementioned rights in rem are completed housing.

Still, will be deductible allowance that had been practiced in cases of loss or lowering of the guarantee, as well as those practiced in accordance with paragraph 17.b) of annex IX to Circular 4/2004 of 22 December, the Bank of Spain.

(c) the guaranteed money deposits or credit or suretyship insurance contracts.

(d) those who are subject to a Covenant or internal agreement on renewal, being understood that such restraint occurs when, subsequent to the appearance of determining conditions of credit risk, the taxpayer grant credit to the debtor.

Shall not be considered produced the renewal in the following cases: 1 granting of new facilities or renegotiation of debts incurred by borrowers, resident or non-resident, in the case of bankruptcy proceedings, plans for viability, restructuring or similar situations.

2. granting of financial facilities to the debtor exclusively related to the financing of their sales.

3rd extension or simple reinstrumentation of operations, carried out in order to obtain a better formal legal title without obtaining of new effective safeguards.

e) the owed by persons or institutions in accordance with article 18 of the tax law, except if you are in a situation of competition, judicially declared insolvency or in other circumstances duly accredited that show a reduced possibility of recovery.

(f) due by political parties, trade unions of workers, business associations, professional associations and official cameras, except in cases of insolvency, judicially declared insolvency or concurrence of other duly justified circumstances that show a reduced chance of recovery.

((g) the so-called substandard of paragraph 7 of the annex IX to Circular 4/2004 of 22 December, in the part corresponding to operations with security or whose allocations would be excluded from the deduction by incurring them some other circumstances described in paragraphs to) f) above, as well as those guaranteed by other entities of the same group of companies within the meaning of article 42 of the code of Commerce regardless of the residence and the obligation to formulate annual accounts consolidated.

The deductible amount corresponding to other operations may not exceed the generic coverage that would have been classified as normal risk, by application of the Alpha parameter referred to in paragraph 29.b) of annex IX to Circular 4/2004 of 22 December.

(h) for the so-called country risk coverage, will not be deductible regarding allocations a: 1 credits and signature risks indirectly guaranteed by any financial or commercial operation.

2. the part of the loan not arranged by the debtor.

3rd countries included in the Group of countries not classified, except for the part concerning interbank operations.

3. no allocations based on global, even statistics, estimates of credit risk will be deductible. Still, it will be deductible to the amount of generic coverage, which does not correspond to contingent risks, with the limit of the result of applying one percent on the positive variation in global in the tax period of debt instruments classified as normal risk referred to in paragraph 7.a) the anejo IX to Circular 4/2004 of 22 December, excluding debt without appreciable risk instruments, the values traded on organized secondary markets, credits covered with collateral and quotas pending expiration of leases on real property. The generic coverage which corresponds to contingent risks will be deductible in the part which has been provided by application of the Alpha parameter referred to in paragraph 29.b) this anejo IX.

Chapter IV expenditure on environmental actions plans. Special plans for investments and expenses of neighborhood montes in article 10 common hand holders communities. Expenditure on environmental actions plans.

1. in accordance with paragraph 4 of article 14 of the tax law, taxpayers may be subject to the tax administration costs for environmental action plan.

2 the application must contain the following information: a) description of the obligations of the taxpayer or commitments entered into by the same to prevent or repair damage to the environment.

(b) technical description and justification of the need for action to be carried out.

(c) the estimated amount of expenditure on environmental performance and the same justification.

(d) criteria for temporary allocation of the estimated amount of expenditure on environmental performance and the same justification.

(e) date of commencement of environmental performance.

3. the application shall be filed within the 3 months following the date of birth of the obligation or commitment to environmental performance.

The taxpayer may withdraw the request formulated.

4. the tax administration may request the taxpayer how much data, reports, records and supporting documents are needed.

The contributor may, at any time in the previous procedure to the hearing process, the appeals and provide documents and supporting documents that it deems appropriate.

5 Instruido the procedure, and immediately before drafting the motion for a resolution, will be revealed to taxpayers, who will have 15 days to make the declarations alegaciones and submit documents and justifications that it deems appropriate.

6 the resolution putting an end to the procedure you can: to) approve the spending plan formulated by the taxpayer.

(b) approve, with the acceptance of the taxpayer, an alternative spending plan.

(c) reject the spending plan formulated by the taxpayer.

The resolution will be motivated.

The procedure shall end within three months.

7 after the deadline referred to in the preceding paragraph without having notified an express resolution, means approved the spending plan formulated by the taxpayer.

8. the expenditure on environmental actions approved plans may be modified at the request of the taxpayer, observing the rules laid down in the preceding paragraphs. Such a request must be filed within 3 months of the tax period in which it should take effect modification.

Article 11. Special plans of investment and expenditure of holders hills neighborhood communities in common.

1. when proven that investments and expenses must be made necessarily in a period exceeding that provided in paragraph 1 of article 112 of the tax law, taxpayers may submit special plans for investments and expenses.

2 the application must contain the following information: a) description of expenditures, investments and aggregate made within the period provided for in paragraph 1 of article 112 of the tax law.

(b) description of investment or expenditure pending objects of the special plan.

(c) effective or anticipated amount of investments or expenses of the plan.
(d) description of the temporary plan of realization of investment or expenditure.

(e) description of the specific circumstances justifying the special plan for investments and expenses.

3. the special plan of reinvestment will be presented before the end of the last tax period referred to in paragraph 1 of article 112 of the tax law.

The taxpayer may withdraw the request formulated.

4. the tax administration may request the taxpayer how much data, reports, records and supporting documents are needed. Also, it will be mandatory to collect report of the bodies of the autonomous communities that have competence in forestry in which the taxpayer has its fiscal domicile.

The contributor may, at any time in the previous procedure to the hearing process, the appeals and provide documents and supporting documents that it deems appropriate.

5 Instruido the procedure, and immediately before drafting the motion for a resolution, will be revealed to taxpayers, who will have 15 days to make the declarations alegaciones and submit documents and justifications that it deems appropriate.

6 the resolution putting an end to the procedure may be: to) approve the special plan of investments and expenses made by the taxpayer.

(b) approve, with the acceptance of the taxpayer, an alternative special plan of investments and expenses.

(c) dismiss the special plan of investments and expenditures made by the taxpayer.

The resolution will be motivated.

The procedure shall end within three months.

7 after the deadline referred to in the preceding paragraph, without having notified an express resolution, means approved the special plan for investments and expenses.

8. in case of total or partial breach of the plan, the taxpayer regularize its tax status under the terms set out in paragraph 3 of article 125 of the tax law, taking into account the investment or proposed expenditure and effectively carried out.

Article 12. Competent body.

It will be competent to instruct and solve procedure plans corresponding to environmental actions and investment expenditure and holders hills neighborhood communities in common, the organ of the State tax administration agency concerned in accordance with its rules of organizational structure.

Chapter V information and documentation on entities and related-party transactions.

Section 1 General elements of information and documentation on entities and inter-company transactions article 13. Information and documentation on entities and related-party transactions.

1. the entities resident in Spanish territory which have the status of key of a group, defined in the terms established in article 18.2 of the tax law, and are not at the same time dependent of another entity, resident or non-resident, must provide the information country by country to that referred to in article 14 of this regulation.

Also, dependents, shall provide this information those entities resident in Spanish territory directly or indirectly, an entity not resident in Spanish territory that is at the same time dependent of another or to permanent establishments of non-resident entities, whenever any of the following circumstances occurs: to) that have been designated by their parent entity non-resident to produce such information.

(b) that there is an obligation of information country by country in terms similar to that provided in this paragraph with respect to the concerned non-resident entity in your country / territory of residence tax.

(c) there is an agreement of automatic exchange of information, with respect to such information, with the country or territory where residing fiscally concerned non-resident entity.

(d) that there is an agreement for the automatic exchange of information regarding such information with the country or territory that is fiscally concerned non-resident entity, there has been a systematic failure of the same that has been communicated by the Spanish tax administration to dependent entities or permanent establishments resident in Spanish territory within the period provided for in the following paragraph.

For the purposes of this section, any entity resident in Spanish territory that is part of a group forced to present the information established shall inform the tax administration identification and the country or territory of residence of the entity obliged to develop this information. This communication must be made before the end of the tax period to which the information relates.

The deadline for submitting the information referred to in this section will be completed twelve months since the end of the tax period. The provision of such information shall be made in the model developed in this instance, to be approved by order of the Minister of finance and public administration.

2 a the effects of provisions of article 18.3 of the tax law, persons or related entities, in order to justify that operations have been valued at their market value, must provide, at the request of the tax administration, the following specific documents: to) documentation to that referred to in article 15 of this regulation relative to the related-party transactions of the group which belongs to the taxpayer, defined in the terms established in article 18.2 of the tax law, including permanent establishments which are part of the same.

(b) documentation of the taxpayer referred to in article 16 of this regulation. Permanent establishments of entities not resident in Spanish territory are also obliged to provide this documentation.

This documentation must be available to the tax administration from the expiry of the voluntary deadline for declaration, and is independent of any documentation or information that the tax administration can apply in the exercise of their functions, in accordance with provisions in the law 58/2003, of December 17, General tax, and its implementing regulations.

Designated specific documentation must be drawn up in accordance with the principles of proportionality and sufficiency. In preparation, the taxpayer can use that relevant documentation which is available for other purposes.

3 However, specific documents mentioned in the preceding paragraph will not apply: to) transactions between entities that are integrated into a single group of fiscal consolidation, without prejudice to provisions of article 65.2 of the tax law.

(b) to transactions with its members or other entities in the same group of fiscal economic interest groupings by consolidation, in accordance with the laid down in law 12/1991, of April 29, economic interest groupings, and temporary business unions, regulated by law 18/1982, 26 May, on taxation of groups and joint enterprises and societies of regional industrial development , and registered in the special register of the Ministry of finance and public administration. However specific documentation shall be payable in the case of temporary unions of companies or partnership formulas similar to temporary unions, that the arrangements laid down in article 22 of the tax law.

(c) to the operations carried out in the field of public offers of sale or takeover of values.

(d) to the operations carried out with the same person or related entity, provided that the amount of the consideration of all operations do not exceed the 250,000 euros, according to the market value.

4. the taxpayer must include in statements expected as well, information concerning its operations linked in the terms established by order of the Minister of finance and public administration.

Section 2 information country by country article 14. Information country by country.

1. the information each country established in this article will be callable entities that referred to in paragraph 1 of article 13 of this regulation, only, when the net amount of the turnover of all persons or entities that are part of the group, in the 12 months prior to the beginning of the tax period, is, at least , of 750 million euros.

2 the information country-by-country shall include, with respect to the tax period of the parent, an aggregate, by each country or jurisdiction: to) revenue gross group, distinguishing between those obtained with related entities or third parties.

(b) results before tax or tax nature identical or analogous to the same.

(c) taxes on societies or satisfied, including supported withholding nature identical or similar taxes.

(d) taxes on societies or nature identical or analogous to the taxes accrued, including withholding.

e) import turnover of capital and other equity existing at the date of conclusion of the tax period.

(f) media template.

(g) material assets and investment property other than cash and credit rights.
(h) list of entities resident, including permanent establishments and major activities carried out by each of them.

(i) other information deemed relevant and an explanation, where appropriate, of the information contained in the information.

3. the information established in this article will be presented in euros.

Section 3 specific documentation article 15. Specific documentation of the group to which belongs the taxpayer.

1 the documentation related to the group, referred to in the letter to) of paragraph 2 of article 13 of this regulation, must understand: to) information relating to the structure and organization of the Group: 1 general description of the organizational, legal and operational structure of the group, as well as any relevant changes to the same.

2. identification of the different entities that are part of the group.

(b) information concerning the activities of the Group: 1 main group activities, as well as a description of the main geographic markets in which it operates the group, main sources of benefits and supply chain of goods and services representing, at least, 10 per cent of the net amount of the turnover of the group, for the tax period.

2. general description of the exercised functions, risks involved and main assets used by different entities of the group, including changes to the previous tax period.

3rd description of the policy of the group in the field of transfer pricing that includes the method or methods of pricing adopted by the group.

4th relationship and brief description of arrangements of sharing costs and contracts for the provision of relevant services between the entities of the group.

5 description of the reorganization and acquisition or transfer of relevant assets, operations carried out during the tax period.

(c) information relating to the intangible assets of the Group: 1 general description of the overall strategy of the group in relation to the development, ownership and exploitation of the intangible assets, including the location of major installations in which are carried out research and development activities, as well as the address of the same.

2nd list of intangible assets of the group relevant for the purposes of transfer pricing, indicating holders the same institutions, as well as overview of the pricing policy of the group in relation to the same transfer.

3rd amount of the payments corresponding to group related operations, resulting from the use of intangible assets, identifying the entities of the group concerned and its territories of fiscal residence.

4th relationship agreements between the companies of the Group relating to intangibles, including cost-sharing agreements, the main research services agreements and licensing agreements.

5 general description of any relevant transfer on intangible assets in the tax period, including institutions, countries and amounts.

(d) information on financial activity: 1 general description of the form of financing of the group, including the major financing agreements with persons or entities outside the group.

2 identification of the entities of the group which carried out the main functions of financing from the group, as well as the country of its incorporation and that corresponding to its place of effective management.

3 Overview of the policy of transfer prices relating to agreements of funding between different entities of the group.

(e) financial and fiscal situation of the Group: 1st annual financial statements consolidated Group, provided that they are mandatory for the same or be drawn up on a voluntary basis.

2nd relationship and brief description of the previous assessment arrangements and any other decision with some fiscal authority that affects the distribution of the benefits of the group between countries.

2. the documentation referred to in this article will not be applicable to those groups in which the net amount of the turnover, defined in the terms established in article 101 of the tax law, is less than EUR 45 million.

3 a provisions in article 18.13 of the tax law are different sets of data the information referred to in number 1 of the letter a), 1st, 2nd, 3rd and 5th of the letter b numbers), the number 1 of the letter c), and paragraphs 1 and 3 of the letter d) of paragraph 1 of this article. To these same effects will be considered main point of each of the information referred to in number 2 of the letter to), the 4th of the letter b number), 2nd, 3rd, 4th and 5th of the c letter numbers), the number 2 of the letter d) and paragraphs 1 and 2 of the letter e) of paragraph 1 of this article.

Article 16. The taxpayer-specific documentation.

1 taxpayer specific documentation must include: a) the taxpayer's information: 1 structure of address, organization chart and individuals or entities targeted for reports on the evolution of the activities of the taxpayer, indicating the countries or territories in which such persons or entities have their fiscal residence.

2. Description of the activities of the taxpayer, of its strategy of business and, where applicable, of its participation in operations of restructuring or disposal or transfer of intangible assets in the tax period.

3rd main competitors.

(b) information related operations: 1 detailed description of the nature, characteristics and amount of related operations.

2nd name and surname or business name or full name, tax domicile and tax identification number of the taxpayer and persons or entities linked with that is performing the operation.

3 analysis of detailed comparability, in the terms described in article 17 of this regulation.

4th explanation concerning the selection of the valuation method chosen, including a description of the reasons justifying the choice of the same, as well as as applicable, obtained comparable and the specification of the value or range of values derived from the same.

5 where appropriate, criteria for allocation of expenses in respect of services rendered together on behalf of several persons or entities linked, as well as the corresponding agreements, if any, and arrangements of costs referred to in article 18 of this regulation.

6 copy of the previous assessment arrangements and any other decision with some fiscal authority related to the linked operations outlined above.

Any other relevant information that 7th has arranged the taxpayer to determine the valuation of its related-party transactions.

(c) the taxpayer's economic and financial information: 1st annual financial statements of the taxpayer.

2. conciliation between the data used to apply the methods of transfer pricing and the annual financial statements, when applicable and relevant results.

3rd used the comparable financial data and source that.

2 If the market value, valuation techniques and other methods are used to determine generally accepted different indicated in letters to) e) article 18.4 of the tax law, as they could be methods of discount of estimated future cash flows, the method will be described in detail or technique specifically chosen, as well as the reasons for their choice.

In particular, describing quantities, percentages, ratios, interest rates, update rates and other variables on which are based the above methods and techniques and justify the reasonableness and consistency of the hypotheses assumed by reference to historical data, business plans or anything else that is deemed essential for the correct determination of value and its adaptation to the principle of free competition.

The use of observable market data, which must be accredited, must be maximized and is limited, to the extent possible, the use of subjective considerations and not observable or verifiable data.

The documentation that should be kept at the disposal of the tax administration shall include reports, documents, and computer support needed for the verification of the correct application of the method of assessment and the resulting market value.

3. the documentary obligations laid down in paragraph 1 above will be referred to the tax period in which the taxpayer has made linked operation.

When the documentation prepared for a tax period continues to be valid in later, the elaboration of new documentation, without prejudice that the adaptations that are necessary must be will not be necessary.

4 in the event of persons or related entities whose net amount of turnover, defined in the terms established in article 101 of the tax law, is less than EUR 45 million, specific documentation will have the following simplified content: to) description of the nature, characteristics and amount of related operations.
(b) name or business name or full name, tax domicile and tax identification number of the taxpayer and persons or entities linked with that is performing the operation.

(c) identification of the method of valuation used.

d) obtained Comparables and value or ranges of values derived from the method of valuation used.

In the case of persons or entities that meet the requirements set out in article 101 of the tax law, this specific documentation can understand completed through the standard document prepared for that purpose by order of the Minister of finance and public administration. These entities must not provide the comparable referred to in point (d)) above.

5 simplified content of specific documentation referred to in the preceding paragraph will not be applicable to the following operations: to) those made by taxpayers of the tax on the income of the physical persons, in the development of an economic activity, to which the method of estimation obtained by application objective with entities in which those or their spouses , ascendants or descendants, either individually or jointly among all of them, have a rate equal or superior to 25 per cent of the share capital or equity.

(b) the transmission of business operations.

(c) the operations of transmission of securities or shares representing participation in the own funds of any type of entities not admitted to trading on any regulated market of securities, or are admitted to trading on regulated markets in countries or territories classified as tax havens.

(d) transmission of real estate operations.

(e) operations on intangible assets.

However, in the course of that referred to in article 101 of the tax law or natural persons and entities not concerned in transactions with persons or entities resident in countries or territories considered as tax havens, the specific obligations of documentation shall not incorporate the analysis of comparability referred to in article 17 of this regulation.

6 a effects of provisions of article 18.13 of the tax law, constitute different sets of data the information referred to in number 1, 2 and 3 of the letter a), 3rd, 4th, and 7th of the letter b numbers), numbers 1, 2 and 3 of paragraph 1 letter c) as well as the information referred to in paragraph 2 of this article. For this same purpose, will have consideration of data each of the information concerning the numbers 1, 2, 5 and 6 of the letter b) of paragraph 1 of this article and letters to), b), c) and d) (4) of this article.

Chapter VI rules of valuation and verification procedure of related-party transactions section 1 determination of the market value of the related-party transactions. Article 17 rules. Determination of the market value of the related-party transactions: comparability analysis.

1. for the purposes of determining the value of the market have agreed on people or independent entities in conditions that respect the principle of free competition referred to in paragraph 1 of article 18 of the tax law, the circumstances of the operations connected with the circumstances of transactions between persons or independent entities that could be comparable will be compared.

This relations between persons or related entities and the conditions of operations must take into account to compare according to the nature of the operations and the conduct of the parties.

2 to determine whether two or more transactions are comparable will be taken into account, to the extent to which they are relevant and that the taxpayer has reasonably available information about them, the following circumstances: to) the specific characteristics of the goods or services the subject of the related-party transactions.

(b) the functions assumed by the parties in relation to the object of analysis operations, identifying the risks involved and pondering, if any, used assets.

(c) the contractual terms of those who, in their case, derived operations taking into account the responsibilities, risks and benefits assumed by each Contracting Party.

(d) the economic circumstances that affect the related-party transactions, in particular, the characteristics of the markets in which the goods are delivered or the services.

(e) business strategies.

Also, for the purpose of determining the market value that would have agreed to persons or entities in conditions that respect the principle of free competition also should be taken into account any other circumstance that is relevant and on which the taxpayer has failed to have reasonably information, as among others, the existence of losses, the impact of the decisions of public authorities , the existence of localization, integrated groups of workers or synergy savings.

In any case must be elements of comparison internal or external which should be taken into consideration.

3. when the related-party transactions the taxpayer made are closely linked together, have been made continuously or affect a set of products or services very similar, so that their independent valuation is not appropriate, comparability analysis that referred to in the preceding paragraph shall be carried out taking into account all these operations.

4. two or more transactions are comparable when there are no such differences in the circumstances referred to in paragraph 2 above that affect the price of the good or service or the margin of the operation, or when there are differences, be eliminated by making the necessary comparability adjustments.

5. the analysis of comparability laid down in this article is part of the documentation to that referred to in article 16 of this regulation and fill the obligation provided for in the number 3 of the letter b) of paragraph 1 of that article.

6. the degree of comparability, the nature of the operation and the information on comparable operations are the main factors that will determine, in each case, in accordance with the provisions of paragraph 4 of article 18 of the tax law, the most appropriate method of valuation.

7 when, although there is no sufficient data, it has been able to determine a range of values that reasonably meets the principle of free competition, taking into account the process of selection of comparable and the limitations of the available information, measures statistics may be used to minimize the risk of error caused by defects in the comparability.

Article 18. Requirements of the arrangements entered into between persons or entities related costs.

A_efectos_de the provisions of paragraph 7 of article 18 of the tax law, sharing agreements of costs of goods and services entered into by the taxpayer must include the identification of other individuals or partners, in the terms provided for in subparagraph a) of paragraph 1 of article 16 of this regulation, the scope of activities and specific projects covered by agreements , its duration, criteria to quantify the distribution of the benefits expected between participants, the form of calculation of their respective contributions, specification of the duties and responsibilities of participants, consequences of accession or withdrawal of participants as well as any other provision which envisages to adapt the terms of the agreement to reflect a change in economic circumstances.

Section 2 article 19 linked operations checking. Verification of the related-party transactions.

1. when verification of the related-party transactions is not the only object of regularization which appropriate practice in the inspection procedure which is carried out, the proposal of settlement resulting from the same is documented in an act other than that should be formalized by the other elements of the tax liability. In said Act justify regularization resulting by application of article 18 of the tax law. The liquidation under this Act shall be provisionally in accordance with article 101.4. b) of law 58/2003, of December 17, General tax.

2. If the taxpayer filed appeal or claim against the provisional settlement practiced as a consequence of the practiced regularization, such liquidation and the existence of the revising procedure to other persons or entities linked to the object that can appear in the procedure, in accordance with the provisions of articles 223.3 and 232.3 of the Act 58/2003 shall be notified.

After the appropriate deadlines without the taxpayer has filed appeal or claim, shall be notified the provisional liquidation practiced to other persons or entities concerned linked so that those wishing to do so may opt jointly for the appropriate remedy of replacement or administrative claim.
3. once liquidation practiced the taxpayer has acquired firmness, the tax administration regularize ex officio tax situation of other persons or entities related, unless they had already made the aforementioned regularization prior. The adjustment will take place through the practice of a winding-up or, where appropriate, of an autoliquidación or a liquidation for a request for rectification of the autoliquidación for the last tax period whose filing and payment period had ended at the time thereof such firmness. For taxes that tax period does not exist, this regularization will take place through the practice of a liquidation corresponding to the time in which occurs the firmness of liquidation or, where appropriate, an autoliquidación or a settlement arising out of a request for rectification of the practiced autoliquidación taxpayer.

In the case of taxes when there are tax periods, this regularization must include all those who are affected by the correction carried out by the tax administration, for the verification of the linked operation.

Regularization shall include, where appropriate, the corresponding interest on arrears calculated from the end of the deadline for the presentation of the autoliquidación of each of the tax periods in which the linked operation has taken effect or, if regularization would lead to a return and the autoliquidación arose out of time from the date of the untimely presentation of the autoliquidación.

Interest will be calculated up to the date that the liquidation is performed or, where appropriate, the autoliquidación, for the tax period in which the regularization of this operation is effective against other persons or related entities, in accordance with article 18.12.3. º of the tax law and in the first subparagraph of this paragraph.

The adjustment made by the tax administration must be taken into account by taxpayers in the declarations submitted after the settlement finality, when the linked operation produces effects in the same.

For the practice of the previous settlement, inspection bodies may exercise the powers provided for in article 142 of the law 58/2003, and carry out the actions of obtaining information necessary.

Persons or entities concerned, which can invoke a treaty or Convention that has become a part of domestic, may go to friendly procedure or the arbitration procedure to eliminate possible double taxation generated by the correction, in accordance with the number 5 of paragraph 12 of article 18 of the tax law.

Section 3 property restitution article 20. Property restitution for the differences between the agreed value and the market value of the related-party transactions.

1. in those operations in which the agreed value is different from the market value, the difference between both values will have to persons or entities linked the tax treatment that corresponds to the nature of income make clear as a result of the existence of such difference, pursuant to article 18.11 of the tax law.

2. does not apply the provisions of the preceding paragraph when the heritage restoration between persons or entities related. To do so, the taxpayer must justify such restitution until rendered the settlement that includes the application as provided in the preceding paragraph.

Chapter VII previous agreements for the evaluation of transactions between persons or entities related section 1 previous agreements for the evaluation of transactions between persons or related entities article 21. Previous actions.

1. persons or related entities wishing to apply for the tax administration to determine the market value of transactions between them, in conditions that respect the principle of free competition may submit a prior request, whose content is as follows: to) identification of persons or entities who are to perform the operations.

(b) brief description of the object of the same operations.

(c) basic elements of the proposal of assessment that is intended to formulate.

2. the tax administration will examine the request, and can gather stakeholders relevant clarifications and communicated to stakeholders the feasibility or not of the prior agreement of valuation.

Article 22. Commencement of the procedure.

1. persons or related entities may ask the tax administration prior agreement for the evaluation of transactions between persons or entities related to prior to the completion of these, without prejudice to the provisions of article 25.8 of this regulation.

Such a request may include the determination of the market value of income estimated by operations carried out by a taxpayer with a permanent establishment abroad, in those cases in which is thus a Convention to avoid double international taxation resulting from application.

The request must be accompanied by a proposal which shall be based on the principle of free competition, and which shall contain a description of the method and analysis followed to determine the market value.

The request must be signed by persons or entities applicants, who must prove to the Administration that other persons or related entities that perform operations whose valuation is requested to attend know and accept the request for valuation.

2. the request should be accompanied by the documentation referred to in articles 15 and 16 of this regulation, insofar as it is applicable to the proposal for the evaluation, and will be adapted to the circumstances of the case.

Article 23. Regime of the documentation submitted.

1. the documentation submitted only shall have effect with respect to the procedure regulated in this chapter and will be exclusively used with respect to the same.

2. the provisions of the preceding articles shall not relieve taxpayers of the obligations which are incumbent upon them in accordance with article 29 of the Act 58/2003, of December 17, General tax, or other disposition, in terms of compliance with them might affect the documentation referred to in article 21 of this regulation.

3. in cases of withdrawal, revocation or refusal of the proposal will be the return of the documentation provided.

Article 24. Processing.

The tax administration will consider the proposal along with the documentation presented. For this purpose, may require taxpayers how much data, reports, records and supporting documents relate to the proposal, as well as explanations or additional clarification on it.

Article 25. Termination and effects of the agreement.

1 the resolution putting an end to the procedure you can: to) approve the proposal for the evaluation presented by the taxpayer b) approve, with the acceptance of the taxpayer, a proposal for a valuation that differs from the one initially presented.

(c) reject the proposal of assessment made by the taxpayer.

2 the prior valuation agreement will be formalized in a document which shall include at least: a) place and date of its formalization.

(b) name or business name or full name and tax identification number of the taxpayer referred to in the proposal.

(c) compliance of taxpayers with the content of the agreement.

(d) description of the operations referred to in the proposal.

(e) essential elements of the method of valuation and value or range of values that are derived from the same.

(f) periods tax or settlement which applies to the agreement and date of entry into force of the same.

(g) critical assumptions whose occurrence determines the applicability of the agreement in the terms set out in this agreement.

3 the rejection of the proposal for the evaluation will include along with the identification of contributors the reasons why the tax administration rejected the proposal.

4. the procedure must finish within the period of 6 months. Expiry of that period without having notified the express resolution, the proposal can understand is rejected.

5. the tax administration and taxpayers shall apply to whichever of the approved proposal.

6. the tax administration can see that facts and operations outlined in the approved proposal correspond to the actually incurred and that the approved proposal has been properly applied.

When checking it appears that facts and operations outlined in the approved proposal does not correspond to reality, or that the approved proposal has not been applied correctly, the inspection of the tributes will proceed to regulate the tax status of taxpayers.

7. the withdrawal of any of the contributors will determine the completion of the procedure.
8. the agreement shall take effect with respect to the transactions after the date in which it is approved, and is valid for the tax periods that materialize in the agreement itself, without that it does not exceed the 4 tax periods following the existing at the date of approval of the agreement.

In addition, you can determine its effects reach to transactions in earlier tax periods, provided that it had not prescribed the right of management to determine the tax debt through appropriate assessment or had firm liquidation falling upon the subject of application operations.

Article 26. Resources.

The resolution putting an end to the procedure or dismissing alleged act will not be actionable, without prejudice the resources and that claims against the acts of settlement that once handed down may stand.

Article 27. Competent bodies.

It will be competent to instruct, resolve and, in the case of modification of the agreement, initiate proceedings the body of the State tax administration agency concerned in accordance with its rules of organizational structure.

Article 28. Information on the implementation of the agreement for the assessment of transactions with persons or entities related.

Together with the Declaration of corporate tax, personal income tax or the tax on the income of non-residents, taxpayers shall submit a letter concerning the implementation of the approved valuation agreement, whose content must include, among other, the following information: a) transactions carried out during the tax period or settlement which referred to the Declaration that has been implementing the agreement.

(b) prices or values that previous operations as a result of the implementation of the agreement have been made.

(c) description, if any, significant changes in the economic circumstances existing at the time of the adoption of the previous valuation agreement.

(d) operations carried out during the tax period or settlement similar to those concerning the agreement, prices for which have been made and description of differences exist with regard to the operations included in the scope of the previous agreement.

(e) that is determined in the agreement itself.

However, in the agreements signed with other administrations, the documentation that the taxpayer must submit annually will be which arises from the agreement itself.

Article 29. Modification of the previous valuation agreement.

1. in the case of significant variation in the economic or technological circumstances existing at the time of the approval of the prior agreement of valuation, this can be modified to adapt to the new economic circumstances. Modification procedure may be initiated ex officio or at the request of taxpayers.

2 the application for amendment must be signed by the persons or entities applicants, who must prove to the Administration that other persons or related entities that will perform operations whose valuation is requested, know and accept the application for amendment, and it should contain the following information: a) justification for the significant variation in economic circumstances.

(b) modification that, under such a variation, is appropriate.

The withdrawal of any of the persons or entities concerned determine the completion of the procedure of modification.

The tax administration, once examined the documentation submitted, and after hearing of the taxpayers, who will have to effect within 15 days, will give reasoned ruling, which can be: 1 approve the modification made by the taxpayer.

2nd pass, with the acceptance of the taxpayer, a valuation that differs from the one initially presented.

3rd dismisses the modification made by the taxpayer, confirming or leaving without effect the previous valuation agreement initially approved.

3 when the modification procedure has been initiated by the tax administration, the content of the proposal shall be notified to the taxpayers who will have a period of one month counted from the day following the notification of the proposal to: to) accept the modification.

(b) formulate a modification alternative, duly justified.

(c) reject the amendment, expressing the reasons on which they are based.

The tax administration, once examined the documentation submitted, shall adopt reasoned ruling, which may: 1 approve the modification, if taxpayers have accepted it.

2nd, with the acceptance of taxpayers, to approve alternative modification.

3rd rescind the agreement whereby it approved the initial proposal for the evaluation.

4th declaring the continuation of the implementation of the proposal for initial assessment.

4. in the case of mediating an agreement with another tax administration, the modification of the previous valuation agreement will require the prior amendment of the agreement reached with the administration. To do so follow the procedure laid down in article 31 of this regulation.

5. the procedure should finalized in within 6 months. Expiry of that period without having notified an express resolution, the proposed amendment can understand is rejected.

6. the resolution putting an end to the procedure for amending or dismissing alleged act will not be actionable, without prejudice to the appeals and claims that may be filed against the acts of settlement that may dictate.

7. the adoption of the amendment, will have the effects provided for in article 25 of this regulation, in relation to the operations carried out subsequent to the application for amendment or, where appropriate, to the communication of proposed modification.

8. the resolution by which the prior consent of initial assessment rescission will determine the extinction of the effects provided for in article 25 of this regulation, in relation to the operations carried out subsequent to the application for amendment or, where appropriate, to the communication of proposed modification.

9 the rejection of the amendment made by taxpayers will determine: to) the confirmation of the effects provided for in article 25 of this regulation, when the significant variation in economic circumstances is not proven.

(b) the termination of the expected impacts in article 25 of this regulation, with regard to the operations carried out subsequent to the change request, in other cases.

Article 30. Extension of the previous agreement of valuation.

1. taxpayers may ask the tax administration is to extend the period of validity of the agreement's assessment that had been approved. Such a request must be made before the 6 months prior to the completion of the period of validity and must be accompanied by documentation they consider convenient to justify that the circumstances make clear in the original application have not changed.

2. the request for extension of the previous valuation agreement must be signed by persons or entities that have signed the agreement whose extension is requested, and must prove to the Administration that other persons or related entities that will perform operations know and accept the request for extension.

3. the tax administration shall have a period of 6 months to examine the documentation to that referred to in paragraph 1 above, and notify the contributors extension or not in the term of validity of the previous valuation agreement. For this purpose, the Administration may request any information and additional documentation.

4. once the period referred to in the preceding paragraph without having notified the extension of the period of validity of the previous valuation agreement, the request may be rejected.

5 resolution that agreed the extension of the agreement or the dismissing alleged act will not be actionable, without prejudice to the resources and claims that may be filed against the acts of settlement that in can dictate.

Section 2 previous agreements for the evaluation of operations related to other tax administrations article 31. Procedure for the agreement on operations linked with other tax administrations.

The procedure for the conclusion of agreements with other tax administrations will be governed by the rules laid down in this chapter with the specifications set out in sections 32 to 36 of this regulation.

Article 32. Commencement of the procedure.

1. in the event that taxpayer request formulated proposal is subject to the consideration of other tax administrations of the country or territory where residing persons or related entities, the tax administration will assess the appropriateness of this procedure. The rejection of the initiation of the procedure should be motivated, and may not be contested.
2. when the tax administration in the course of a procedure of evaluation considers appropriate to refer the matter to the consideration of other tax administrations that may be affected, it will be knowledge persons or related entities. The taxpayer acceptance will be a prerequisite for communication to the other administration.

3. the taxpayer must submit the request accompanied by the documentation provided for in article 22 of this regulation.

Article 33. Processing.

1. in the course of relations with other tax administrations, persons or entities linked will be obliged to provide few details, reports, records and supporting documents related to proposal assessment.

Taxpayers may participate in the actions aimed to finalize the agreement, when so agreed between the representatives of both tax administrations.

2. the proposed agreement of the tax administrations will be knowledge of the interested subjects, whose acceptance is a prerequisite for the signing of the agreement between the administrations involved.

Opposition to the proposed agreement will determine the rejection of the proposal for the evaluation.

Article 34. Resolution.

In case of acceptance of the proposed agreement, the competent authority will sign the agreement with other tax administrations, giving stakeholders a copy of the transfer.

Article 35. Competent bodies.

It will be competent to start, inform, instruct the procedure, establish appropriate relations with the authorities referred to in the previous article, resolve the procedure and sign the agreement with the other tax administration body of the State tax administration agency concerned in accordance with its rules of organizational structure.

Article 36. Application of other tax administration.

When another tax administration to ask the tax administration the initiation of a procedure aimed at signing an agreement for the valuation of transactions between persons or related entities be observed the rules laid down in the preceding articles insofar as they are applicable.

Chapter VIII documentation of operations with persons or residents not related entities in tax havens article 37. Documentation of operations with persons or residents not related entities in tax havens.

A_efectos_de provisions of article 19.2 of the tax law, person performing operations with persons or entities resident in countries or territories considered as tax havens will be required to keep at the disposal of the tax administration specific documentation provided for in chapter V of title I of this regulation, with the following specialties: to) will not apply the provisions of point (d)) of article 13.3 of this regulation.

(b) shall keep the documentation relating to the operations carried out with persons or related entities residing in a country or territory described as a tax haven, except that reside in a Member State of the European Union or Member States of the European economic area with which there is an effective exchange of information on tax matters in the terms provided for in paragraph 4 of the first additional provision of law 36/2006 of 29 November, measures for the prevention of tax fraud, and the contributor accredits operations to respond to valid economic reasons and that these individuals or entities perform economic activities.

((c) the documentation referred to in article 16(1). to) of this regulation must include, in addition, in the case of operations carried out with persons or entities resident in countries or territories considered as tax havens, the identification of persons who, on behalf of such persons or entities involved in the operation and, in case of transactions with entities concerned , the identification of these administrators.

For the purposes of article 18.13 of the tax law, persons and administrators concerning this letter will be considered data.

(d) transactions with persons or entities resident in countries or territories considered as tax havens that do not have the consideration of persons or entities related in the terms established in article 18 of the tax law, will not be them required specific documentation of the taxpayer referred to in article 16 of this regulation with respect to international sales of goods and services including mediation in these commissions, as well as expenditures accessories and related, when the following requirements are met: 1 under the taxpayer test that the completion of the transaction through a country or territory regarded as tax haven responds to the existence of valid economic reasons 2nd the taxpayer to perform operations comparable with people or not related entities not residing in countries or territories considered as tax havens and certifying that the agreed value operation it corresponds to the value agreed upon such comparable transactions, once made, where appropriate, the corresponding corrections that may be necessary.

Chapter IX prior assessment of expenditure on scientific research or technological innovation article 38 projects. Prior assessment of expenditure on scientific research or technological innovation projects.

1. persons or entities that have the purpose of scientific research or technological innovation activities may ask the tax administration the assessment, in accordance with the tax rules, and with prior and binding nature, of expenditure on such activities that consider likely to enjoy the deduction referred to in article 35 of the tax law.

2 the application must be submitted in writing prior to expenditure and shall contain, at a minimum, the following: a) identification of the person or entity requesting.

(b) identification and description of the proposed scientific research or technological innovation within the meaning of the request, indicating the specific activities that will be carried out, the expenses to be incurred for the execution of the same and the period of time which will be carried out such activities.

(c) proposal for the evaluation of the expenditure to be carried out, expressing the rule applied valuation and economic circumstances taken into consideration.

3. the tax administration shall examine the documentation referred to in the preceding paragraph, and may require the applicant how much data, reports, records and supporting documents related to the application. Both the tax administration and the applicant may request or provide expert reports related to the content of the proposal for the evaluation. Also, they may propose the practice tests that understand relevant by any means accepted in law.

4. once instructed the procedure and prior to the drafting of the draft resolution, the tax administration will it show the applicant, together with the content and conclusions of the tests carried out and requested reports, so that it can formulate allegations and present documents and supporting documents deemed relevant within the period of 15 days.

5 the resolution putting an end to the procedure you can: to) approve the proposal initially made by the taxpayer.

b) approve, with the taxpayer acceptance, another proposal for a valuation that differs from the initially presented c) rejected the proposal made by the taxpayer.

6 the resolution will be motivated and, in the event that it is approving, shall contain at least: a) place and date of its formalization b) name and surname or business name or full name and tax taxpayer identification number.

(c) the taxpayer with the valuation made compliance.

(d) description of the operation referred to in the proposal.

(e) assessment by the tax authorities under tax rules, indicating costs of specific activities referred to and of the method of valuation used, with an indication of its essential elements.

(f) period of validity of the assessment and the date of its entry into force.

7. the procedure must terminate within a maximum period of 6 months, starting from the date in which the proposal has had input in any of the records of the competent administrative body or from the date of correction of the same at the request of the tax administration. The lack of reply from the tax administration within the indicated deadlines will imply the acceptance of the values proposed by the taxpayer.

8. the resolution issued not be appealed, without prejudice to the resources and claims that may be filed against acts of liquidation carried out as a result of the application of the values set out in the resolution.
9. the tax administration shall apply the valuation of the costs resulting from resolution during its period of validity, provided that the legislation does not change or vary significantly from the economic circumstances which had such a valuation.

10. the documentation provided by the applicant only have effects in connection with this proceeding. Officials involved in the procedure must keep strict secrecy and observe strict secrecy with respect to the documents and other information which in the course of the same.

11. the competent organ to inform, instruct, and resolve the procedure will be the organ of the State tax administration agency that corresponds according to their standards of organizational structure.

Chapter X agreements prior assessment or classification and valuation of income from certain intangible assets article 39. Commencement of the procedure.

1. persons or entities that have the purpose of operations likely to benefit from the reduction contained in article 23 of the tax law, may ask the tax administration prior agreement for the evaluation of revenue from the transfer of the assets referred to in paragraph 1 of that article and expenses associated therewith as well as of the income generated in the transmission, or a prior agreement of classification and valuation, which includes the qualification of assets as belonging to one of the categories referred to in paragraph 1 of that article, and the assessment of the income and expenses associated to them, as well as income generated in the transmission.

2 the application must be submitted in writing, prior to the transactions giving rise to the application of article 23 of the law of tax reduction, and will contain, at a minimum, the following: a) identification of the person or entity requesting and persons or entities assigns.

(b) description of the asset that is intended to be subject to disposal or transfer.

(c) where appropriate, description of the right of use or exploitation that is intended to establish and duration.

(d) in the procedure of classification and valuation, motivated rating of assets for the purposes of article 23 of the tax law.

e) proposal of estimation of revenues and costs associated with the transfer of the asset, or of revenues generated in its transmission with an indication of the value of acquisition and transmission, expressing the method or criteria of evaluation applied and economic circumstances taken into consideration.

(f) other information, elements and documents that can contribute to the formation of judgment by the tax administration.

3 you may agree accordingly inadmissible admissible request when any of the following circumstances: to) that the proposed valuation, or classification and valuation, which is intended to formulate clearly lacks Foundation to determine the value of the revenue from the transfer of assets and associated costs, or well of the incomes generated in the transmission , or the qualification of the asset such as apartment

(b) that it had rejected proposals to valuation, or classification and valuation, substantially equal to the proposal which aims to formulate.

4. the documentation submitted only have effect in relation to the procedure regulated in this chapter and will be exclusively used with respect to the same.

5. the provisions of the preceding paragraphs shall not relieve taxpayers of the obligations which are incumbent upon them in accordance with article 29 of the Act 58/2003, of December 17, General tax, or other provision.

6. in cases of withdrawal, file, as inadmissible, or rejection of the proposal will be the return of the documentation provided.

Article 40. Processing.

1. the tax authorities examine the application together with the documents submitted. For these purposes, you will require taxpayers, anytime, how much data, reports, records and supporting documents relate to the proposal, as well as explanations or additional clarification on the same.

2. in the prior agreement of classification and valuation procedure, the body competent to instruct shall require binding report to the General direction of tributes, in relation to the qualification of assets for the purposes of article 23 of the law of the tax reduction. If you estimate it from, the General direction of tributes may request non-binding opinion thereon to the Ministry of economy and competitiveness.

The General direction of tributes will evacuate the report, which will be communicated to the requesting authority within a maximum period of 3 months. This time not counted in the maximum period specified in paragraph 6 of article 41 of this regulation.

Article 41. Termination and effects of the agreement.

1 the resolution putting an end to the procedure of the previous valuation agreement may: to) approve the proposal for the evaluation presented by the taxpayer.

(b) approve, with the acceptance of the taxpayer, a proposal for a valuation that differs from the one initially presented.

(c) reject the proposal of assessment made by the taxpayer.

2 the resolution putting an end to the prior agreement of classification and valuation procedure may: to) qualify assets such as unsuitable for the purposes of article 23 of the tax law.

(b) qualify as eligible assets and pass the assessment initially made by the taxpayer.

(c) qualify as eligible assets and approve another alternative proposal, with the acceptance of the taxpayer.

(d) qualify as eligible assets and rejected the proposal of assessment made by the taxpayer.

3 the prior agreement of valuation, or classification and valuation, will be binding and will be formalized in a document which shall include at least: a) place and date of its formalization.

(b) name or business name or full name and tax the taxpayer identification number.

(c) compliance of the taxpayer with the content of the agreement.

(d) description of the operation referred to in the proposal.

e) in the case of the prior agreement of classification and valuation, motivated rating of assets for the purposes of article 23 of the tax law.

(f) assessment arising from the agreement, with indication of essential elements of the valuation method used, as well as the economic circumstances which should understand basic in order to your application.

(g) time of entry into force of the agreement and date of entry into force of the same.

4 in the rejection of the proposed valuation or classification and valuation is included along with the identification of the taxpayer the reasons why the tax administration dismisses the same.

5. the withdrawal of the applicant will determine the completion of the procedure.

6. the procedure must be completed within a maximum period of 6 months. Expiry of that period without having notified the express resolution, the proposal can understand is rejected.

7. the tax administration and the taxpayer must apply the assessment and, where appropriate, rating, resulting from resolution, during its term of validity, always that do not vary significantly the economic circumstances that had this classification and valuation.

8. the tax administration can see that facts and operations outlined in the approved proposal correspond to the actually incurred and that the approved proposal has been properly applied. When checking it appears that facts and operations outlined in the approved proposal does not correspond to reality, or that the approved proposal has not been applied correctly, the inspection of the tributes will proceed to regulate the tax status of taxpayers.

9. the resolution putting an end to the procedure or dismissing alleged act will not be actionable, subject resources and that claims against the acts of settlement that once handed down can stand.

Article 42. Competent body.

It will be competent to instruct, resolve and, in the case of modification of the agreement, start, the procedure referred to in this chapter the organ of the State tax administration agency concerned in accordance with its rules of organizational structure.

Article 43. Modification of the agreement of valuation or classification and valuation.

1. in the event of significant change in economic circumstances that have determined the valuation, existing at the time of the adoption of the agreement of assessment or rating and valuation, this can be modified to adapt to the new economic circumstances. Modification procedure may be initiated ex officio or at the request of taxpayers.

2 the application for amendment must be signed by the person or entity requesting, and shall contain the following information: a) justification for the significant variation in economic circumstances.

(b) modification of assessment which, according to such variation, is appropriate.

The withdrawal of the applicant will determine the completion of the procedure.
The tax administration may require taxpayers, anytime, how much data, reports, records and supporting documents relate to the proposal, as well as explanations or additional clarification on it.

The tax administration, once examined the documentation submitted, and after hearing the taxpayer, who will have to effect within 15 days, will give reasoned ruling, which may be: 1 approve the modification of assessment made by the taxpayer.

2nd pass, with the acceptance of the taxpayer, a valuation that differs from the one initially presented.

3rd dismisses the modification made by the taxpayer, confirming or leaving without effect the proposal initially approved assessment. However, it does not affect asset rating, made in the prior agreement of classification and initial valuation.

3 when the modification procedure has been initiated by the tax administration, the content of the proposal shall be notified to the taxpayer who shall have a period of one month, from the day following the notification of the proposal, to: to) accept the modification.

(b) formulate a modification alternative, duly justified.

(c) reject the amendment, expressing the reasons on which they are based.

The tax administration, once examined the documentation submitted, shall adopt reasoned ruling, which may: 1 approve the amendment, if the taxpayer has accepted it.

2. approve alternative modification made by the taxpayer.

3rd rescind the agreement which was approved the initial proposal for the evaluation, without affecting the qualification of assets in the event of a prior agreement of classification and initial valuation.

4th declaring the continuation of the implementation of the proposal for initial assessment.

4. the procedure should finalized in within 6 months. Expiry of that period without having notified an express resolution, the proposed amendment can understand is rejected.

5. the resolution putting an end to the procedure of modification not be appealed, without prejudice to the appeals and claims that may be filed against the acts of settlement that may dictate.

6. the adoption of the amendment will have the effects provided for in article 41 of this regulation, since the application for the amendment or, where appropriate, from the communication of the proposed amendment.

7. the resolution that rescission prior agreement initial valuation, or classification and initial valuation in relation to the assessment, shall determine, with respect to this, the extinction of the effects provided for in article 41 of this regulation, since the application for the amendment or, where appropriate, from the communication of the proposed amendment.

8 the rejection of the amendment made by the taxpayer will determine: to) the confirmation of the effects provided for in article 41 of this regulation, when the significant variation in economic circumstances is not proven.

(b) the termination of the effects provided for in article 41 of this regulation, since the dismissal.

Article 44. Extension of the previous agreement of valuation or the prior approval of classification and valuation.

1. the taxpayer may ask the tax administration is to extend the period of validity of the agreement of valuation, or classification and valuation, which had been approved. Such a request must be made before the 6 months prior to the completion of the period of validity and must be accompanied by documentation that considers appropriate to justify the circumstances make clear in the original application have not changed.

2. the tax administration shall have a period of 6 months to examine the documentation to that referred to in paragraph 1 above, and notify the contributors extension or not in the term of validity of the agreement of valuation, or classification and valuation. For this purpose, the Administration may request any information and documentation as well as the collaboration of the taxpayer.

3. once the period referred to in the preceding paragraph without having notified the extension of the period of validity of the agreement of valuation, or classification and valuation, the request may be rejected.

4. resolution that agreed or is denied the extension or dismissing alleged act will not be subject to appeal, subject resources and claims that can stand against the acts of settlement which might dictate.

Title II limits in aid deriving from the application of the right of the article European Union 45. Limits of the accumulation of aid to the film industry.

Accordance with article 54.4 of Regulation (EU) No. 651/2014 of the Committee, on 17 June 2014, by which declare certain categories of aid compatible with the internal market in application of articles 107 and 108 of the Treaty, the deduction provided for in paragraph 2 of article 36 of the law of the tax will be applicable (, provided that the following limits are taken into account: to) productions generating right to the aforementioned deduction must have a minimum of 2 million euros cost.

(b) the basis of the deduction may not exceed 80 per cent of the total cost of the production.

Application of certain special schemes chapter I economic interest groupings Spanish and European, temporary unions of companies article 46 title III rules. Obligations of economic interest groupings, Spanish and European, and temporary unions of companies.

1. the economic interest groupings, Spanish and European, which result from application the special scheme provided for in chapter II of title VII of the tax law, must submit, together with its statement by such a tax, a list of persons or entities who have inherent rights or the quality of partner or member company on the last day of the tax period (, with the following information: a) identification, address Prosecutor and percentage of participation of the partners or of persons or entities that hold the economic rights inherent in the quality of partner.

(b) total amount of the quantities attributed to persons or entities who have inherent rights or the quality of partner or member company who are resident in Spanish territory or not resident with a permanent establishment therein, relating to the following concepts: 1 accounting profit.

2. net financial expenses not deducted for the entity.

3rd reserve capitalization not applied by the entity.

4th Base, reduced or increased, where appropriate, in the amounts deriving from the application of the reserve of leveling.

5 Base deductions to avoid international double taxation and, in his case, percentage of ownership in the entity from which it comes the income.

6 based on bonuses.

7th Base deductions to encourage certain activities, as well as, where appropriate, the basis of the deduction for investment in new plant and equipment elements.

8th withholdings and payments on account corresponding to the economic interest grouping.

(c) dividends and shares in profits distributed with charged to reserves, distinguishing that apply to periods in which the entity the special regime were not you apply.

(2 economic interest groupings shall notify the persons or entities who have inherent economic rights or the quality of partner or member company total to assign amounts and individual allegation with the concepts referred to in point (b)) of the preceding paragraph, as soon as they were chargeable in accordance with the rules of this tax or the tax on the income of physical persons.

3 a the effects of no taxation of dividends and shares in profits first established in paragraph (3) of article 43 of the tax law, groups must include the following information in the notes on the accounts: to) benefits applied to reserves corresponding to tax periods where paid in General.

(b) benefits applied to reserves corresponding to tax periods in which paid for the special scheme, distinguishing between those who corresponded to partners resident in Spanish territory of those who corresponded to non-resident partners in Spanish territory.

((c) in the case of distribution of dividends and shares in profits charged to reserves, designation of the reserve applied the three who, for the kind of benefits that come from, relate letters a) and b) above.

4 mentions in the annual report referred to in the preceding paragraph shall be carried out while there are reserves of the referred in point (b)) of that paragraph, even if the entity not tribute in the special scheme.

5 reporting obligations set out in paragraphs 3 and 4 of this article shall be also required with respect to successive entities who have ownership of the reserves referred to in point (b)) of paragraph 3.
6. the provisions of the preceding paragraphs of this article, insofar as it is applicable, will require temporary unions of companies subject to the special regime provided for in chapter II of title VII of the tax law, in relation to its members resident in Spanish territory companies the last day of the tax period.

Chapter II article 47 tax consolidation system. Application and obligations of information of the entities under the tax consolidation system.

1. the exercise of the option by the regime of fiscal consolidation will be communicated to the delegation of the State tax administration of the fiscal domicile of the representative entity or to the regional offices of inspection agency or the Central delegation of great contributors where the representative entity is attached to them.

The communication shall contain the following information: a) identification of the entities comprising the tax group.

In the event that the parent is resident in Spanish territory is not required, in addition, the identification of this.

In the case of permanent establishments of non-resident entities in Spanish territory, shall be required, in addition, the identification of the non-resident entity in Spanish territory they belong to those.

(b) copy of the agreements by which the companies of the group have chosen by the regime of fiscal consolidation and, in the event that the parent is not resident in Spanish territory, document in which designated the representative entity.

(c) the relationship of the direct or indirect participation rate maintained by the parent for all and each one of the entities that comprise the tax group, percentage of voting rights held on them and the date of acquisition of the stakes.

The entity representative revealed that all the requirements set out in article 58 of the tax law.

2 administrative organs referred to in the preceding paragraph shall notify the representative entity the number of the granted tax group.

3 it shall have jurisdiction for verification and investigation of entities in groups who pay tax in the tax consolidation regime the organ of the State tax administration agency concerned in accordance with its rules of organizational structure.

Chapter III regime for mergers, divisions and contributions of assets, an exchange of values and change of registered office of a European company or European cooperative society of a Member State of the European Union article 48. Communication from the special scheme.

1. the realization of transactions covered in Chapter VII of title VII of the tax law should be subject to communication to the tax administration.

The communication will be made by the acquirer's operations, unless the same is not resident in Spanish territory, in which case such communication shall be made by the transferring entity.

However, for operations in which either the acquirer or the transferor are resident in Spanish territory, the communication must be carried out by the shareholders of the transferor entity, provided that they are resident in Spanish territory. Otherwise, the transferor entity will be communication.

2. the communication shall be made within a period of three months from the date of registration of the deed on which the operation is documented.

If the registration is not required, the term shall be calculated from the date in which granting the public deed or equivalent document that corresponds to the operation.

Change of registered office operations, communication must be made within a period of three months from the date of registration in the register of the Member State of the new registered office of the public deed or equivalent document in which the operation is documented.

However, for operations in which either the acquirer or the transferor are resident in Spanish territory, the communication will be in the period provided for the submission of statements or self-assessments, corresponding members of the transferring entity, provided that they are resident in Spanish territory. Otherwise, the time limit referred to in the first subparagraph of this paragraph shall apply.

3. the communication will head the delegation of the State tax administration of the fiscal domicile of the entities or permanent establishments if it's non-resident entities, which, in accordance with the previous paragraphs, are obliged to do it, or to the regional offices of inspection agency or the Central delegation of major contributors, being attached to the same taxpayers.

Article 49. Content of the communication.

The communication shall contain: a) identification of the participants in the operation and a description of the same.

(b) a copy of the deed or equivalent document that corresponds to the operation.

c) in the case that operations had been carried out by means of a public offer for acquisition of shares, also must be provided copy of the corresponding brochure.

(d) indication, where applicable, the non-application of the special tax regime of Chapter VII of title VII of the tax law.

Chapter IV taxation of certain contracts of leasing article 50. Leasing contracts.

1. the exercise of the option provided for in paragraph 8 of article 106 of the tax law will be subject to communication to the General direction of taxes of the Ministry of finance and public administration.

2. the communication of choice must be made before the end of the tax period in which intended it to take effect.

3 the communication will contain, at a minimum, the following information: a) identification of the active subject of the contract of leasing.

(b) indication of the date of the effective start and end of the period of construction of the asset.

(c) determination of the amounts and the temporary moment that will satisfy the contract of leasing fees.

(d) indication that assets meet unique technical and design requirements and that does not correspond to a serial production.

Chapter V regime of holdings of foreign securities article 51 entities. Communication of choice and the resignation in the regime of holdings of foreign securities institutions.

1. the choice by the regime of holdings of foreign securities institutions should contact the tax administration.

2. the system shall apply to the tax period that ends after the communication and subsequent which conclude until the surrendered shall be communicated to the tax administration.

Chapter VI regime of shipping entities according to the tonnage article 52. Scope of application: operation of ships.

1 may opt for taxation by this regime: to) entities whose social object include the exploitation of vessels owned or leased. The option shall relate to all ships, owned or leased, that exploit the applicant, as well as those who purchased or rented after.

(b) entities which perform, in its entirety, the technical management and crew of ships. The option will include all vessels managed by the applicant, as well as which they manage later.

In both cases, vessels must comply with the requirements of paragraph 2 of article 113 of the tax law.

2. the option can be extended to all vessels taken in chartering by the applicant. Despite the above, the net tonnage of the vessels taken in chartering may not exceed 75 per cent of the total tonnage of the fleet of the entity or, where appropriate, the tax group, which administers the scheme, being excluded from this vessels which cause the overcoming of this limit.

Article 53. Procedure of application of the regime.

1 the application, where appropriate, shall be referred to the entire vessels exploited, or respect them for technical management and crew, by the same fiscal Group entities that fulfil the conditions referred to in the previous article shall be accompanied by the following documents: to) statutes of the entity, or project of these if you are still not established.

(b) with regard to the existing entities, certificate of registration of the entity in the register of ships and shipping companies or in the special ships and shipping companies, and with respect to the unincorporated register, project incorporation or registration request for these records. This documentation shall not apply to entities that carry out, in its entirety, technical management and crew of ships.

(c) identification and description of the activities of the entities for which is requested the application of the scheme.

((d) accreditation, in respect of each vessel, title which is used or will be used, or technical management is carried out, in its entirety, and crew, the territorial area in which its strategic and commercial management will take place, its flag and its affectation exclusive to the activities referred to in article 113.2. b) of the tax law.

e) in the case of companies already established, the last approved balance sheet of the entity.
(f) accreditation or, in the case of unincorporated entities, forecast of the net book value and the market value of the vessels in which the circumstances provided for in the second subparagraph of paragraph 2 of article 114 of the tax law.

(g) in the case of entities carrying out, in its entirety, the technical management and crew of ships, document demonstration of compliance with the requirements of the code CGS, issued under the terms established in the prescription 13.2 of the international code for the safety of the operation of ships and pollution prevention and management, adopted by the International Maritime Organization by resolution a. 741.

2. the request shall be submitted before the end of the tax period in respect of which is intended to have effects.

3. the competent authority for the statement and resolution of this procedure will be the General direction of tributes, which may request the taxpayer how much data, reports, records and supporting documents are needed.

You can also collect report of the competent bodies to verify the existence of a contribution to the objectives of the Community policy of maritime transport, particularly as regards the technological level of vessels that ensures the safety of navigation and the prevention of the pollution of the environment and the maintenance of Community employment both on board as in auxiliary tasks to maritime transport , and to verify the activity carried out by the entities which perform, in its entirety, technical management and crew of ships. The application of the report determined the interruption of the period of the resolution referred to in paragraph 5 of this article.

The contributor may, at any time in the previous procedure to the hearing process, the appeals and provide documents and supporting documents that it deems appropriate.

4 Instruido the procedure, and immediately before drafting the motion for a resolution, is will show the taxpayer, who shall have a period of 15 days to formulate allegations, as well as to present documents and justifications as he deems appropriate.

5 the resolution putting an end to the procedure will be motivated and be able: to) authorize the regime of shipping entities according to the tonnage, determining the tax period from which it will take effect. The authorization shall be granted for a period of ten years.

(b) dismiss the concession of the regime of the shipping entities depending on the tonnage.

The application must resolve in the period of three months, from the date in which the application has been filed or from the date of its correction at the request of cystography, elapsed which may be denied.

6. the taxpayer may request extensions of the initial authorization for additional periods of 10 years. The request for extension will be presented before the end of the tax period in respect of which is intended to have effects.

7. If subsequent to the granting of an authorization the taxpayer acquires, leases, taken in chartering or manages, in its entirety, other vessels that meet the requirements of the regime, shall submit, in the terms outlined in the preceding paragraphs, a new application referred to these. The additional authorization shall be granted for the temporary period that subtract from the initial authorization regime.

Article 54. Resignation and failure to comply with the regime.

1. the taxpayer may waive the application of the scheme. The resignation will be presented before the end of the tax period in respect of which is intended to have effects. During the five years following the date before it is not able to request a new application of the regime.

2 non-compliance with the requirements established in this scheme will result in the immediate loss of the right to apply it and determine the obligation to jointly enter the amount corresponding to the tax period in that such breach took place, the unabridged contributions for all exercises in which the regime resulted from implementation, calculated in accordance with the general tax regime without prejudice to the interests of delay, surcharges and penalties, if any, are coming. A new application of the regime may not be requested during the five years following the date of beginning of the tax period in which the breach took place.

Chapter VII parties politicians article 55. Exempt of political parties economic holdings in corporation tax.

1 to enjoy the exemption provided for in article 10, dos.d) Law 8/2007 4th of July, on financing of political parties, these should be made by application addressed to the Department of State tax administration agency tax management before the end of the tax period in which should be valid.

The requesting party will provide, together with the letter of request, simple copy of the deed of Constitution and by-laws, certificate of inscription in the registry of political parties of the Ministry of Interior as well as, memory, which explains and justifies economic operations which requested the exemption to coincide with their own activity.

For these purposes, means that economic holdings match the activity of the political party when: to) contribute directly or indirectly to the achievement of its purposes.

(b) when the enjoyment of this exemption does not produce distortions in competition in relation to companies that carry out the same activity.

(c) that will pay equal to generic collectivities of people. Means that this requirement is not met when the promoters, affiliates, compromisarios and members of its management and administration bodies, as well as spouses or relatives to the fourth degree inclusive of any of them, are the main recipients of the activity or to benefit from special conditions for use of their services.

2. the body of the State tax administration agency concerned in accordance with its rules of organizational structure will solve reasoned way the requested exemption. This exemption will depend, to the audience at all times, of the conditions and requirements laid down in the organic law 8/2007 and in this article.

Exemption shall be granted if the aforementioned organ has not notified the resolution within a period of six months.

3. Once granted the exemption referred to in the preceding paragraphs will not be necessary to reiterate your request for your application to the following tax periods, unless circumstances which justified granting or applicable regulations are changed.

The political party must report to the body of the State tax administration agency concerned in accordance with its rules of organizational structure any relevant modification of the conditions or requirements for the application of the exemption. The Court may declare, after hearing of the political party for a period of ten days, whether or not the continuation of the application of the exemption. In the same way when the tax administration by any means shall be the amendment of the conditions or requirements for the application of the exemption.

4. the failure to comply with the requirements for the application of this exemption will determine the loss of the right to its application from the own tax period in which the failure occurs.

5. to promote the adequate control of economic and financial activity of the political parties, the State tax administration agency shall notify the Court of Auditors of exemption filings and the result of the same.

Article 56. Accreditation for the purposes of the exclusion from the obligation of withholding or paying on account with respect to the exempt income perceived by the political parties.

The accreditation of political parties for the purpose of the exclusion of the obligation of withholding or paying on account referred to in article 11. º, two of the organic law 8/2007, on 4 July, on financing of political parties, will be made by a certificate issued by the competent body of the State tax administration agency concerned in accordance with its rules of organizational structure on request will be accompanied to which copy of the certificate of inscription in the registry of political parties of the Ministry of the Interior.

This certificate shall state its period of validity, which shall extend from the date of its issue until the end of the tax period in course of the applicant.

Title III management of the tax chapter I index entities, return and obligations of cooperation article 57.indice entities.

1. through the Census of entrepreneurs, professionals and retainers referred to in article 9 of the General Regulation of proceedings and the procedure of tax inspection and management and development of the application of taxes procedures common rules, approved by the Royal Decree 1065 / 2007, of 27 July, will be at each of the delegations the index of entities that referred to in article 118 of the tax law.
2. Census amendments and requests for lower rate taxpayers attached to the regional inspection units and the Central delegation of large taxpayers shall be addressed, in the first case, special delegations for their fiscal domicile and in the second the concerned Central delegation.

3 when he had dictated agreement provisional low as a consequence as provided in paragraph b) of paragraph 1 of article 119 of the tax law and, subsequently, the entity submit omitted statements, the competent body of the State tax administration agency agreed the rehabilitation of the inscription on the index and shall refer the agreement to the public registry in which the marginal note corresponding to the cancellation thereof been extended.

Article 58. Return.

The refunds referred to in article 127 of the tax law will be made by bank transfer. The Minister of finance and public administrations may authorize the return by crossed cheque when the circumstances justifying it.

Article 59. External collaboration in the presentation and management of statements.

1. the tax administration can make effective social collaboration in the presentation of statements by this tax through agreements with the autonomous communities and other public administrations, entities, institutions and representative bodies of sectors or social, employment, business or professional interests.

2 the agreements referred to in the preceding paragraph may refer, among others, the following aspects: to) information and dissemination campaigns.

(b) assistance in the preparation of statements and correct and accurate filling.

(c) remission of statements to the tax administration.

(d) rectification of defects, prior authorization from the taxpayer.

(e) information on the status of processing of returns, prior authorization from the taxpayer.

3. the tax administration will provide the necessary technical assistance for the development of specified actions without prejudice to offer these services with general taxpayers.

4. by order of the Minister of finance and public administration be established assumptions and conditions that entities that have signed these agreements may be submitted by electronic means statements, settlements or any other documents required by tax legislation, on behalf of third parties.

Such an order may also provide that other persons or entities have access to the filing system by telematic means on behalf of third parties.

Chapter II obligation to retain and enter with article 60. Income subject to withholding or income account.

1 must proceed with retention, in respect of a payment on account of tax corresponding to the recipient, with regard to: to) the incomes derived from participation in own funds of any type of entity, the assignment to third parties of capital and reserves and the remaining income covered by article 25 of Act 35/2006 of 28 November, the tax on physical persons income and partial tax laws amendment on Societies, on the income of non-residents and heritage.

(b) the awards derived from participation in games, contests, raffles or random combinations, whether or not linked to the offer, promotion or sale of certain goods, products or services.

(c) the benefits obtained as a result of the allocation of charges of administrator or counselor in other societies.

(d) income from the transfer of the right to the exploitation of the image or consent or authorization for its use, even though they constitute income from economic exploitation.

(e) income from the lease or sublease of urban properties, even though they constitute income from economic exploitation.

(f) the income obtained as a result of transmissions or redemption of shares representing the capital or assets of collective investment institutions.

(g) the income obtained as a result of the reduction in capital contributions and the distribution of the share premium return carried out by investment companies regulated in the law on collective investment institutions not subject to the general type of assessment or ucis equivalent societies of variable capital registered in another State irrespective of any limitations that have with respect to restricted groups of investment, acquisition, assignment or rescue of their actions, as well as by companies covered in Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions on certain bodies for collective investment in transferable securities.

2. when the same contract understand services or transfer of real property, together with the assignment of property and rights of those included in paragraph 4 of article 25 of law 35/2006, you must practice retention on the total amount.

When the same contract understand lease, sublease or assignment of country estates, together with other movable property, retention is not practise unless it's lease or transfer of businesses or mines.

3 must undergo an income on account of the tax corresponding to the recipient with respect to the income of the preceding paragraphs, when they are satisfied or paid in kind.

Article 61. Exceptions to the obligation to retain and access account.

There is no obligation to withhold or enter to account with regard to: a) the yields of securities issued by the Bank of Spain that constitute regulatory instrument of intervention in the money market and the Treasury bills yields.

However, institutions of credit and other financial institutions that formalize with customers accounts based on transactions on Treasury bills, contracts will be obliged to retain with regard to yields obtained by the above account holders.

(b) the interests which constitute right in favor of the treasure as consideration of State loans to the official credit.

(c) interest and commissions of loans which constitute income of entities of credit and financial institutions of credit entered in the special registers of the Bank of Spain, resident in Spanish territory.

The above exception shall not apply to performance of obligations, bonds or other securities issued by public or private, national or foreign entities that comprise the portfolio of concerned entities and interests.

(d) the interests of the operations of lending, credit or advance, both active and passive that made the State industrial holdings company with companies in which it holds majority share in capital, and may not extend this exception to the interests of certificates, debentures, bonds or other similar titles.

e) interest earned by securities firms as a result of the loans made in connection with transactions for the purchase or sale of securities referred to in article 63.2 b) of law 24/1988, of July 28, the stock market, as well as the interests earned by the companies of investment services with respect to the active operations of loans or deposits referred to in paragraph 2 of article 49 of the Royal Decree 217/2008 15 February, on the legal regime of the companies of other entities providing investment services and investment services and which partially amending the regulation of the law 35/2003, 4 November, collective investment institutions, approved by the Royal Decree 1309 / 2005 of 4 November.

Either there is obligation to practice retention in relation to interests perceived by companies or agencies of values, in consideration to the guarantees made to operate as a member of the futures and options markets financial, in the terms referred to in chapters IV and V of the Royal Decree 1282 / 2010, of 15 October, which regulates futures official secondary markets options and other derivative financial instruments.

(f) obligations in stock conversion premiums.

((g) revenues derived from the distribution of the premium from issuance of shares carried out by entities other than those indicated in the letter g) of paragraph 1 of article 60 of this regulation.

((h) benefits received by a parent company resident in Spain of its subsidiaries resident in other Member States of the European Union, in relation to the retention provided for in paragraph 2 of article 62 of this regulation, when fulfilled the requirements set out in the letter h) of paragraph 1 of article 14 of the revised text of the law on income tax of non-residents approved by Royal Legislative Decree 5/2004, of 5 March.

(i) income from the leasing and subleasing of urban real estate in the following cases: 1 as regards housing leases by companies for their employees.
2nd when you the rent paid by the tenant to a same lessor does not exceed the 900 euros per year.

3rd when the activity of the lessor is classified in any of the headings of the 861 group of the first section of the rates of the tax on economic activities, adopted by Royal Legislative Decree 1175 / 1990, 28 September, or under some other heading that empowered to lease or subletting immovable urban activity, and applying to the rateable value of the property for lease or sublease the rules for determining the quota established in the consumption of the aforementioned group 861, had not been zero quota.

For these purposes, the lessor must provide proof against the tenant compliance with this requirement, in the terms established by the Minister of finance and public administration.

4th when the yields derived from financial leases referred to in article 106 of the tax law, insofar as they relate to urban real estate.

(j) yields that are required between a Spanish or European economic interest grouping and its partners, as well as those that are required between a joint venture and its member companies.

(k) yields of mortgage participations, loans or other credit rights which constitute income from securitisation funds.

(l) the performance of accounts abroad satisfied or paid by permanent establishments abroad of credit institutions and financial institutions resident in Spain.

(m) satisfied yields on entities benefiting from exemption for tax pursuant to an international treaty signed by Spain.

(n) the dividends or share in profits, interest income and other income satisfied among companies that are part of a group that tribute in the tax consolidation system.

(n) the dividends or shares in profits distributed by Spanish or European economic interest groupings and joint enterprises, except for those who must file returns complies with the General of the tax, corresponding to partners who need to support the allocation of the tax base and come from tax periods during which the entity has paid pursuant to the special diet of chapter II of title VII of the tax law.

(o) income derived by the exempt entities referred to in paragraph 1 of article 9 of the tax law.

Exempt entity status may be established by any of the means test admitted in law. By resolution of the competent body of the State tax administration agency that corresponds according to its organizational structure, the means and form may be established to accredit the exempt status.

By order of the Minister of finance and public administration is may determine the procedure to make effective the exemption from the obligation of withholding or payment to account in relation to income derived from the titles of the public debt of the State perceived by the exempt entities referred to in paragraph 1 of article 9 of the tax law.

(p) dividends or shares in the benefits referred to in paragraph 1 of article 21 of the tax law.

For the purposes of this letter, the perceptual organization shall inform the entity obliged to withhold that the requirements set out in that article meet. The communication will contain, in addition to the identification of the recipient data, documents justifying the referral requirements.

(q) income derived by taxpayers in financial assets from corporation tax, always complying with the following requirements: 1 that are represented through book-entry.

2nd to be negotiated in an official Spanish Securities secondary market, or in the alternative market of fixed income, multilateral trading system established in accordance with the provisions in Title XI of the Act 24/1988.

However, credit institutions and other financial institutions that formalize contracts based operations on financial assets accounts with customers will be required to retain with regard to yields obtained by the above account holders.

Financial institutions through which payment of interests of values included in this letter or that involved in transmission, redemption or refund thereof, shall be obliged to calculate performance attributable to the owner of the value and report the same to both the holder and the tax administration, which will also provide data for persons involved in the operations listed.

The Minister of finance and public administration will also establish obligations of intermediary and information on separations, transmissions, reconstructions, refunds or repayments of public debt values for which authorized negotiating separate principal and coupons. In such cases, the managing bodies of the market of public debt in notes will be required to calculate performance attributable to each owner and inform him, both the holder and the tax administration, which also provide information pertaining to persons involved in the operations on these values.

It empowers the Minister of finance and public administration to establish the procedure to enforce the exclusion of retaining regulated in this letter.

r) Awards referred to in paragraph b) of paragraph 1 of the preceding article, when the amount does not exceed 300 euros, as well as prizes in lotteries and betting which, by its amount, are exempt from the special charge referred to in the third additional provision thirty law 35/2006 of 28 November, the tax on physical persons income and partial tax laws amendment on Societies, on the income of non-residents and heritage.

(s) income derived by taxpayers of tax from debt issued by public administrations of OECD countries and financial assets traded on organised markets of these countries.

However, credit institutions and other financial institutions that formalize with clients contracts accounts based on operations on financial assets referred to in the preceding paragraph, shall be obliged to retain with regard to yields obtained by the above account holders.

Financial institutions through which payment of interests of values included in this letter or involved in transmission, redemption or refund thereof, shall be obliged to calculate performance attributable to the owner of the value and report the same to both the holder and the tax administration, which also will provide data for persons involved in the operations listed.

It empowers the Minister of finance and public administration to establish the procedure to enforce the exclusion of retaining regulated in this letter.

(t) income derived from the transfer or repayment of shares representing the capital or assets of collective investment institutions obtained by: 1 funds investment of financial and investment firms regulated in the law 35/2003, 4 November, of collective investment institutions, whose regulations for management or statutes have established a minimum investment superior to 50 per cent of their assets in shares (several institutions for collective investment provided for in paragraphs c) and (d)), regardless of the article 48.1 of the rules of development of law 35/2003, of 4 November, of collective investment institutions, approved by Royal Decree 1082 / 2012, of 13 July.

2. the funds of investment of financial and investment firms regulated in law 35/2003, whose regulations for management or statutes have established investment, at least 85 percent of their assets in a single investment fund of a financial nature of the regulated in the first subparagraph of article 3(3) of the regulation of development of law 35/2003. When this investment policy relates to a compartment of the Fund or investment company, exception to the obligation to retain and enter account referred to in this letter only applies with respect to investments that integrate part of the heritage of the institution attributed to such compartment.

The application of the exclusion of retention provided for in this letter t) will require that the investment institution is included in the corresponding category which, for the types of investments mentioned in paragraphs 1 and 2, has established the National Commission of the market of stock, which must include in its prospectus.

(u) the amounts paid by insurance companies to pension funds as a result of the assurance of pension plans.

(v) income derived by the change of assets in which the provisions of the life insurance in which the policyholder assumes the risk of the investment are reversed.
For the implementation of the provisions of the preceding paragraph, insurance entities must notify the entities obliged to practice retention, on the occasion of the transmission or repayment of assets, the fact that it is an insurance contract in which the policyholder assumes the investment risk and in which the requirements laid down in article 14.2. h) of law 35/2006. The entity obliged to practise the retention must be kept duly signed communication.

(w) the income derived from the performance of the duties of liquidation of insurance companies and the bankruptcy proceedings to which they are subjected by the Consorcio de Compensación de Seguros, pursuant to the third subparagraph of paragraph 1 of article 24 of the revised text of the Legal Statute of the consortium of insurance compensation, approved by Royal Legislative Decree 7/2004 , October 29.

(x) income that gets revealed in decision-makers enterprises as a result of the variation in the commitments for pensions that are instrumented in a contract of group insurance, which has been the subject of a financing plan, as was has not full compliance to it, pursuant to article 36.5, second paragraph, of the regulation on the implementation of the commitments by pension companies with workers and beneficiaries approved by Royal Decree 1588 / 1999 of 15 October.

and the income derived from the reimbursement or transmission of shares in the funds governed by article 79 of the regulation of development of law 35/2003.)

(z) the remuneration and compensation for economic rights receiving the society of management the systems of registration, clearing and settlement of securities on loans of securities made pursuant to article 57 of the Royal Decree 116/1992, of February 14, on representation of securities through a book-entry account and clearing and settlement of stock exchange transactions.

In addition, the entity referred to in the preceding paragraph nor obliged to practice retention for remuneration and compensation arising from loans from values taken in accordance with provisions in the cited article 57, which paid to entities or persons lenders. All of this without prejudice to the fixing of such revenue retention that corresponds, in accordance with the regulations of the corresponding tax staff of the lender, which, where appropriate, must practice it the participating entity that end in your payment to him, whose effect does not mean that it performs a simple means of payment.

Article 62. Subjects bound to retain or make an income account.

1 will be required to retain or log in to account when they meet or paid vacation provided for in article 60 of this Regulation: to) legal persons and other entities, including entities and communities and property owners in income allocation regime.

(b) taxpayers by the tax on the income of physical persons engaged in economic activities, when they meet income in the exercise of their activities.

(c) physical, legal persons and other entities not resident in Spanish territory, that operate on it through permanent establishment.

2. not be considered that a person or entity satisfies, or pay an income when it is limited to make a simple mediation of payment, understanding by this payment of an amount per account and order of a third party, except that in the case of foreign securities depository entities owned by resident in Spanish territory or who are in charge of the management of collection of income from these securities. Cited depository institutions must practice the corresponding retention whenever such income have not supported previous retention in Spain.

3. in the case of awards shall be required withholding or paying on account the person or entity that satisfies them.

4 in the operations on financial assets will be required to retain: to) in the yields obtained in the amortization or repayment of financial assets, person, or authority. However, in case the realization of such operations, the obligor is refer to a financial institution to retain will be the financial entity in charge of the operation.

In the case of spinning instruments developed after its issuance in financial assets, expired it is obliged to retain the notary public or financial institution involved in the presentation to the collection.

(b) in the yields obtained in the transmission of financial assets including spinning instruments that referred to above, when it is channeled through one or more financial institutions, the Bank, box or financial institution acting on behalf of the transferor.

For the purposes of this issue, means that it acts on behalf of the transferring Bank, box or financial institution receives from him the order of sale of financial assets.

(c) in cases not included in the preceding paragraphs, the notary public who must obligatorily intervene in the operation.

5. in the transmission of values of the debt of the State shall practice retention the managing body of the public debt market in annotations that play a role in the transmission.

6 in transmissions or redemption of shares representing the capital or assets of collective investment institutions, must practice retention or deposit to account the following persons or entities: a) in the case of repayment of the shares of investment funds, management companies, except for holdings registered on behalf of trading entities on behalf of participants , with respect to which will be such distributors the obliged entities practice retention or deposit account.

(b) in the case of repurchase of shares through an investment company of variable capital whose shares are not listed on stock exchange or in another market or organized system of securities trading, acquired by the taxpayer directly or marketer to society, society itself, except that it involved a management company; in this case, it will be this.

(c) in the case of collective investment institutions domiciled abroad, trading entities empowered intermediaries for the marketing of the shares or participations of those and, subsidiarily, the entity or entities responsible for placement or distribution of values among potential subscribers, when the refund.

(d) in the case of agencies that operate under freedom to provide services, the designated representative pursuant to article 55.7 and the second additional provision of law 35/2003, 4 November, of collective investment institutions.

(e) in the cases where appropriate the practice of withholding pursuant to the preceding paragraphs, it is obliged to make a payment to account partner or shareholder who perform transmission or get refund. The mentioned payment on account shall be made in accordance with the rules contained in the articles 64.4 paragraph first, 65.3 and 66 of this regulation.

7. in operations for reduction of capital with repayment of contributions and distribution of the share premium, by investment companies regulated in the law on collective investment institutions not subject to the general tax rate, society itself must practise retention or deposit to account.

In the case of collective investment institutions regulated by Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions on certain bodies for collective investment in transferable securities, incorporated and domiciled in any Member State of the European Union and entered in the special register of the National Commission of the stock market for the purpose of marketing by entities resident in Spain, they will be forced to practice retention or income account trading entities or intermediaries authorized to sell the shares or participations of those and, subsidiarily, the entity or entities responsible for placement or distribution of the values involved in the payment of pensions in the case of collective investment undertakings equivalent to variable capital investment companies registered in another State irrespective of any limitations that have with respect to restricted groups of investment, acquisition, assignment or rescue of their actions, the obligation of practicing the retention or deposit to account will correspond to the depositary entity of the values or that have charge collection of income derived from the same management.

In the cases where appropriate the practice of withholding or income account pursuant to the preceding paragraphs, it is obliged to make a payment to account partner or shareholder who receives the return of contributions or the distribution of the share premium. The mentioned payment on account shall be made in accordance with the rules contained in the articles 64.8, 65.1 and 66 of this regulation.
8. in operations carried out in Spain by insurance entities that operate under freedom to provide services, he shall be obliged to practice retention or deposit to account the representative appointed in accordance with the provisions of article 86.1 of the consolidated text of the law of management and supervision of private insurance, approved by Royal Legislative Decree 6/2004 , October 29.

9 subjects bound to retain shall assume the obligation to carry out income in Treasury, unless the breach of that obligation can excuse them from this.

Retention and corresponding income, when the entity paying for performance is the administration of the State shall be directly.

Article 63. Evaluation of financial assets and tax requirements for transmission, repayment and amortization of financial assets.

1 shall be regarded as financial assets with implicit performance those in which performance is generated by the difference between the amount paid on the issue, first placement or endorsement and the committed to reimburse the expiration of those operations whose performance is assessed, wholly or partly, implicitly, through any securities used for the acquisition of foreign resources.

Issuance, redemption or refund premiums include implied yields.

Bonuses are excluded from the concept of implicit performance or raw placement, tapped on the issue price, which always stipulated within the market practice and constituting income in its entirety to the mediator, intermediary or financial Director, acting on the issuance and putting into circulation of the financial assets covered in this standard.

Any instrument turning even the originated in business operations, from the moment that it endorses or transmitted, except that the endorsement or assignment is made as payment for a credit from suppliers or suppliers shall be considered as a financial asset with implicit performance.

2. they shall be regarded as financial assets with explicit performance those that generate interest and any other form of agreed remuneration as consideration to the assignment to third parties of capital and reserves and is not included in the concept of yield implicit in the terms referred to in the preceding paragraph.

3 financial assets with mixed performance will follow the regime of financial assets with explicit performance when annual cash they produce of this nature is equal or higher than the type of existing reference at the time of the broadcast, although in conditions of issuance, redemption or refund other additional performance had set, implicitly. This reference type will be, for each natural quarter, 80 per cent of the effective rate corresponding to the rounded weighted average price that would have been in the last auction of the quarter preceding, corresponding to three-year government bonds, if they were financial assets with a term exceeding four years; a five-year government bonds, if you were financial assets with a term exceeding four years but equal to or less than seven, and obligations of the State to 10, 15 or 30 years if it were assets with longer term than. In the case that cannot be determined the type of reference for some time, it shall apply the time closest to the of the planned issue.

For the purposes of this section, with respect to financial assets with variable or floating performance emissions, will be taken as effective interest operation rate of internal performance, whereas only yields nature explicit and calculated, if any, with reference to the initial assessment of the parameter for which the final amount of accrued income is fixed periodically.

However, if it's public debt with mixed performance, whose coupons and repayment amount are calculated with reference to a price index, the percentage of the first paragraph shall be 40 per cent.

4. to proceed to the alienation or obtaining reimbursement of securities or financial assets with implicit performance and financial assets with explicit performance that they should be subject to withholding at the time of its transmission, redemption or refund, shall register the prior the acquisition with intervention from the notaries and financial institutions required to retain as well as the price that the operation was carried out.

When an instrument of twist turns into financial asset after putting them into circulation, already the first endorsement or assignment must be through notary public or financial institution, unless the same transferee or acquirer is a financial institution. The attestor or financial institution its character of financial asset, identifying its first acquirer or fork be entered in the document.

5 a. effects of the provisions of the preceding paragraph, the person or authority, the financial institution acting on behalf of this, the notary public or the financial institution that act or intervene on behalf of the purchaser or depositor, as appropriate, shall extend accreditation of the following certification: to) date of operation and identification of the asset.

(b) name of the purchaser.

(c) the said purchaser or depositor fiscal identification number.

(d) purchase price.

Of the said certificate, to be extended in triplicate, two copies will be delivered to the purchaser, and another in the possession of the person or entity that certifies.

6. financial institutions or the public notaries shall refrain from mediate or intervene in the transmission of these assets when the transferor does not justify its acquisition in accordance with the provisions of this article.

7. persons or entities issuing financial assets referred to in paragraph 4 no may reimburse them when the fork not accredited their prior acquisition by the timely certification, adjusted as indicated in paragraph 5 above.

The issuer or the financial institutions responsible for the operation which, in accordance with the preceding paragraph, must not be refund the holder of the title or active must be constituted by that number depot at the disposal of the judicial authority.

Buyback it, rescue, cancellation or early repayment shall require the intervention or mediation of financial institution or of notary public, being the entity or person issuing of the asset as a mere purchaser in the event that it put back into circulation title.

8. the holder of the title, in the case of loss of a supporting certificate of purchase, you can request the issuance of the corresponding duplicate of the person or entity that issued such certification.

This person or entity shall state the nature of duplicate of that document, as well as the date of issue of the latter.

9. in the case of lucrative transmission means that the purchaser subrogates is in the acquisition value of the transferor, while mediate sufficient referral cost.

Article 64. Basis for the calculation of the obligation to retain and access account.

1. in General, it will constitute the basis for the calculation of the obligation to withhold the full consideration payable or satisfied.

Lease or sublease of urban real estate, based on the retention will be made up of all the concepts that satisfy the lessor, excluding value added tax.

2. in the case of amortisation, reimbursement or transmission of financial assets will form the basis for the calculation of the obligation to retain the positive difference between the value of depreciation, reimbursement or transmission and the value of acquisition or subscription from such assets. As the value of acquisition will be taken which figure in the accrediting certification of acquisition. For this purpose, is not minorarán the costs to the operation.

Notwithstanding the retention that proceed to the transferor, where the CA acquires a financial asset issued by it, shall be retention and income on the performance obtained in any form of further transmission of the title, excluding amortization.

3. when the obligation to withhold have their origin by virtue of the provisions of point (b)) of paragraph 1 of article 60 of this regulation, will form the basis for the calculation of the amount of the award.

In the case of prizes of lotteries and betting that, by its amount, they were subject to and not exempt from the special charge of certain lotteries and betting referred to in the third additional provision thirty law 35/2006 of 28 November, personal income tax and partial modification of the laws of corporate non-residents income and on capital, the retention shall be the amount of the prize subject and not exempt, in accordance with the aforementioned provision.

4. when the obligation to withhold have their origin by virtue of the provisions of the letter f) of paragraph 1 of article 60 of this regulation, the retention base shall be the difference between the transmission or reimbursement value and the acquisition value of the shares or participations. These effects shall be considered that the values transmitted or reimbursed by the taxpayer are those who bought in the first place.
In the case of reimbursement of shares in investment funds regulated by law 35/2003, 4 November, of collective investment institutions, for which, by application of provisions in article 40.3 of the aforementioned law, there is more than one record of unit-holders, or transmission or redemption of shares or participations in collective investment institutions domiciled abroad sold, placed or distributed in Spanish territory, the rule of seniority referred to in the preceding paragraph shall apply by the managing body or marketer with which made reimbursement or transmission with respect to the values entered in its register of participants or shareholders.

5. when the obligation of paying on account have their origin by virtue of the provisions of paragraph 3 of article 60 of this regulation, the market value of the property shall constitute the basis for the calculation of the same.

For these purposes, will be taken as market value the result of increase by 20 percent the value of acquisition or cost for the payer.

6 when he could not prove the full consideration payable or satisfied, the tax administration may compute a quantity which, subtracted retention as such, dispose the actually perceived.

7. when the obligation of withholding or paying on account have their origin in the secondary setting derived from provisions in article 18.11 of the tax law, will form the basis of the difference between the agreed value and the market value.

8. in the case of income referred to in the letter g) of paragraph 1 of article 60 of this regulation, the retention base will be the amount to integrate into the taxable income calculated in accordance with paragraph 6 of article 17 of the tax law.

Article 65. Birth of the obligation to retain and access account.

1. in General, retain and enter account obligations will be born at the time of the enforceability of the incomes, cash or in kind, subject to retention or income account, respectively, or in the payment or delivery if it is older.

In particular, be construed as enforceable interests in the due dates indicated in the deed or contract for its liquidation or payment, or when in any other way be recognized into account, even if the recipient does not claim their bill or yields accumulate to the main operation, and dividends at the date set in the agreement of distribution or from the day following their adoption in the absence of the determination of the aforementioned date.

2. in the case of income derived from depreciation, reimbursement or transmission of financial assets, the obligation of withholding or paying on account will be born in the moment in which formalize the operation.

3. in the case of income obtained as a result of transmissions or redemption of shares representing the capital or assets of collective investment institutions, the obligation of withholding or paying on account will be born in the moment in which formalize the operation, any that are the agreed conditions of payment.

Article 66. Percentage of retention and income into account.

The percentage of retention or payment on account shall be as follows: to) as a general rule, 19 percent. In the case of income from the lease or sublease of urban buildings located in Ceuta, Melilla or their dependencies, obtained by entities domiciled in such territories or operate them through establishment or branch, that percentage will be divided by two.

(b) in the case of income from the transfer of the right of exploitation of the image or consent or authorization for use, 24 percent.

(c) in the case of prizes of lotteries and betting that, by its amount, they were not exempt from the special charge of certain lotteries and betting referred to in the third additional provision thirty law 35/2003 of 28 November, personal income tax and partial modification of the laws of corporate and subject non-resident income and on capital, 20 percent.

Article 67. Amount of retention or income account.

The amount of retention or income account shall be determined by applying the percentage referred to in the article prior to the basis for calculation.

Article 68. The retainer and the obligor's obligations into account.

1. the retainer and the obligor into account must be present in the first twenty natural days of the months of April, July, October and January, to the competent organ of the tax administration, Declaration of the amounts retained and revenues to account for immediate natural quarter and enter the amount in the Treasury.

However, the filing and payment referred to in the preceding paragraph shall be made in the first 20 calendar days of each month, in relation to the retained amounts and the payments on account corresponding by the immediately previous, in the case of retainers or forced that the circumstances referred to in paragraph 3.1. of article 71 of the regulation of the value added tax approved by the Royal Decree 1624 / 1992, 29 December.

Negative declaration will not proceed when not revenue subject to withholding or income account had fulfilled in the period of the Declaration.

2. the retainer or forced to enter account must submit in the first 20 days of the month of January, an annual declaration of withholdings and payments on account made. However, in the event that this Declaration be presented in directly readable by computer or has been generated using, exclusively, of the relevant modules printing developed, for these purposes, by the tax administration, the deadline will be between January 1 and January 31 of the year following the which corresponds the Declaration.

In this statement, as well as their identification data, may be required to register a personal relationship of holders with the following information: a) name of the entity.

(b) tax identification number.

(c) revenue gained, with an indication of the identification, description and nature of concepts, as well as of the office where such income had been earned.

(d) retention practiced or staged entry into account.

Entities domiciled, resident or represented in Spain, that pay self-employed income subject to withholding, are depositaries or manage the collection of income from securities is subject to the same obligations established in the preceding paragraphs.

3. the retainer or forced to enter account must be issued in favour of the taxpayer supporting certification the withholdings or the payments on account made, as well as other details pertaining to the taxpayer who must be included in the annual statement referred to in the preceding paragraph.

Cited certification must be available to the taxpayer prior to the beginning of the term of this tax return.

Entities domiciled, resident or represented in Spain, that pay self-employed income subject to withholding, are depositaries or manage the collection of income from securities is subject to the same obligations established in the preceding paragraphs.

4. payers must notify taxpayers withholding or income account practiced at the time they meet income, indicating the percentage applied.

5. the statements referred to in this article will be models that establish the Minister of finance and public administration, who may also determine the data to be included in the statements, those provided for in paragraph 2 above, being obliged the retainer for each kind of incomes or forced into account to fill out all of the data thus determined and contained in the statements that apply to you.

The filing and payment shall be made in the manner and place as shall be determined by the Minister of finance and public administration.

(6. the filing and payment of the payment on account referred to in letter e) Article 62.6 hereof, shall be in the form, place and time determined by the Minister of finance and public administration.

Chapter III Conversion of assets for tax deferred in due debts owed by the Treasury. Procedure of compensation and payment article 69. Procedure of compensation and payment of due debts owed by the Treasury.

1 deferred tax assets relating to provisions for impairment of loans and other assets arising from the possible insolvency of the debtors not related to the taxpayer, not due with public law bodies and whose deductibility does not occur by application of the provisions of article 13(1). a) of the tax law, as well as derivatives of paragraphs 1 and 2 of article 14 of the tax law corresponding to endowments or contributions to systems of social security and, where appropriate, early retirement, will become a payable credit against the tax administration, in the terms established in paragraph 1 of article 130 of the tax law.
2. the conversion of the deferred tax assets referred to in the preceding paragraph in a callable credit against the tax administration will occur at the time of the presentation of the autoliquidación of corporate income tax for the tax period in which the circumstances provided for in paragraph 1 of article 130 of the tax law have occurred.

3. the conversion of tax assets deferred in a callable credit against the tax administration shall determine that the taxpayer can also choose to apply for your subscription to the tax administration or compensate these loans with other debts of a tax nature of statehood that the taxpayer own generates from the time of the conversion.

4. the request for payment of the payable credit against the tax administration will take place through the autoliquidación of corporation tax. This fertilizer will be governed by the provisions of article 31 of the Act 58/2003, of December 17, General tax, and its implementing regulations, without causing, in any case, the accrual of interest on late payments referred to in paragraph 2 of that article 31.

5. in the case that the taxpayer calls the compensation of the callable credit against the tax administration with other debts, in the terms established in paragraph 3 of article 130 of the tax law, you must go to the competent organ for processing an application, for each debt whose compensation intended to carry out, in accordance with the model to be approved by order of the Minister of finance and public administration. Application form shall contain the following information: a) identification of the tax debt whose compensation is requested, at least, indicating their amount and concept. The date of expiry of the period of income in the case of debts with admission to voluntary period deadline shall also be indicated.

(b) identification of the autoliquidación which generates the callable credit against the tax administration whose compensation is sought.

(c) manifestation of the taxpayer indicating payment of referral credit has not been sought nor asked is your compensation for the same amount with other tax debts.

The request may be made in relation to those debts generated from the time of the conversion. This application will not prevent the request for deferment or subdivisions of the remaining debt.

The resolution of this application must be notified within the period of 6 months.

In matters not provided in this article, will apply the provisions of the General Regulation of fundraising, approved by Royal Decree 939/2005, of 29 July, in connection with the compensation of debts.

Competition for appraising the corresponding procedure and decision in the cases regulated in this article will be established by the corresponding standard of specific organization.

Sole additional provision. Concept of patrimonial entity in tax periods that are initiated prior to 1 January 2015.

For the purposes of the provisions of paragraph 2 of article 5, to determine whether an entity has or not the condition of heritage in tax periods that are initiated prior to 1 January 2015, will take into account the aggregate sum of the annual balance sheets of the tax periods corresponding to the time of holding of participation, with the limit of the initiated subsequent to January 1, 2009 , unless proven otherwise.

First transitional provision. Amortization of elements used.

The acquired assets used, which are amortized prior to the entry into force of law 43/1995, of 27 December, the corporation tax, will continue to be amortized in accordance with regulations in force prior to the entry into force of the Act.

Second transitional provision. Financial institutions credit risk.

1. the derogation provided for in article 7(3) of the regulation of the tax, approved by the Royal Decree 1777 / 2004, of 30 July, according to the wording effective until December 31, 2004, only affect the appropriations corresponding to the excesses of the balances of the concepts referred to in derogation with respect to the same nature balances corresponding to the date of entry into force of the order of 13 July of 1992 on application of the provision for bad debts to credit institutions subject to the administrative supervision of the Bank of Spain, without prejudice to the integration into the base of the insolvency fund balances that are released for any reason, as soon as these balances come from endowments that have had the consideration of tax deductible.

2. the derogation provided for in article 7(3) of the regulation of the tax, approved by the Royal Decree 1777 / 2004, of 30 July, according to the current wording for the tax periods started as of January 1, 2005, only affect the appropriations corresponding to the excesses of the balances of the concepts referred to in derogation with respect to the balances of the same nature on December 31, 2004, without prejudice to the integration into the base of the generic coverage balances that are released for any reason, as soon as these balances come from allocations that would have consideration of tax deductible.

Third transitional provision. Transitional regime of tax benefits on certain financial transactions.

1 application of the regime transition. - maintain acquired rights, in the terms in which they were granted, and in accordance with this transitional provision, entities which, at the time of the entry into force of law 43/1995, of 27 December, the corporation tax, enjoyed some tax benefits referred to in the sixth transitional provision of the tax law.

2. acquired rights.

a) to effects of the provisions of the preceding paragraph, shall be regarded as vested rights: 1 allowances recognized in the tax on the income of Capital to the concessionary companies of highways, granted for fixed term and on an individual basis, prior to January 1, 1979 under Covenant or solemn contract with the State.

2. the reductions in corporation tax, granted during the term of the law 61/1978, of 27 December, time-bound, recognized by the State, referred to in the sixth transitional provision of the tax law.

(b) the acquired rights may not be subject to any extension at the end of the recognized period.

3. application to the concessionary companies of motorways of the revenue from the tax on the income of the Capital.

(a) the benefits recognized of motorways concessionaires societies will continue to apply in accordance with the rules of the tax on the income of the Capital and which is applicable according to this tax.

(b) the beneficiary of the performances, when it appears subject to personal liability, may deduct from your share the tax on the income of Capital that would have been applied there is no profit.

(c) despite the provisions in the previous number, insurance, savings institutions and credit of all kinds, deducted from its share only the amount actually deducted.

4 bonuses granted during the term of the law 61/1978, of 27 December, the corporate income tax.

Entities which, at the entry into force of law 43/1995, of 27 December, the corporation tax, had rights acquired in connection with bonuses that referred to). 2nd paragraph 2 of this provision shall remain the same in the terms in which they were granted, without prejudice to the provisions of the following paragraphs.

5. creditos-puente.

(a) means creditos-puente those granted to cover the period of implementation of the refinancing operations for which it is intended to bonus, whenever his term not exceeding one year, renewable, prior notification to the tax administration, for another annual term.

(b) the performance of the creditos-puente shall not enjoy bonus.

((c) don't miss the bonus that had recognized pursuant to this provision 7 loans or loans whose amount is intended to cancel the creditos-puente referred to in paragraph a).

6 substitution and transmission of shares.

(a) in the cases of replacement and transmission of shares of credit operation not exceeding 5 per cent of the remainder of the operation, provided that you do not alter the degree of foreign participation in the financing and suppose variation in the direction of the operation, the borrower entity is limited to annually inform the body that granted the bonus record alterations.

(b) when the conditions outlined in the letter are not satisfied, the CA shall be bound to request the validation of the granted bonuses in its day.

7. refinancing operations.

(a) will be able to refinance, without losing the bonuses that were originally recognized provided that they meet the requirements laid down in this provision: 1 the loans concluded in the foreign market, as well as the loans issued in the same.
2. the loans issued in the domestic market.

(b) will be unavoidable requirements for refinancing operations can enjoy the bonus the following: 1 that in no case will exceed the maximum term of the original financial transaction.

2. the amount of refinancing operation not exceeding the amount of the debt and not expired at the date of the transaction.

In the case of operations carried out in foreign currency involving replacement of the used currency currency exchange rate will apply to currency of the date in which it takes place the refinancing operation.

((c) exceptionally, in the case of operations carried out in the international market the extension of the period referred to in paragraph (b) may authorize). 1st when the refinancing operation is performed in both interest and guarantees better.

(d) in any case the bonus may be applied to interest refinancing operations.

(e) the granting of bonuses of the refinancing operations must be requested by the borrower entity under the conditions laid down in this provision.

8 request: to) the request of the bonus in the operations referred to in this provision shall apply to the General direction of taxes of the Ministry of finance and public administration, accompanying the following documents: 1 memory about the investments to be carried out with funds from the lending or borrowing in which shall be recorded the detailed budget of the cost of those its location and dates and approximate times that will be carried out.

2nd financing such investment Plan, which should include the dates envisaged within which one or more times will make use of external, internal or external, financial means to obtain the necessary financing.

3rd copy of the contract or loan agreement. Certification of the minutes of the general meeting which approved the issuance or of the agreement of the Board of Directors that is run by delegation agreement taken at the time by the general meeting must be accompanied in the loans.

When a proposal of contract shall be sent the final copy once established.

4th picture of amortization of the loan or borrowing.

5th enjoyed Creditos-puente, as well as its duration.

6 degree of linkage or lack of it, between lenders and borrowers.

(b) the application must be accompanied of supporting economic and financial operation memory.

9 resolution: to) if the resolution taken by the Minister of finance and public administration, and by delegation the Director General of taxes, favorable, therein shall be determined: 1 percentage of bonus awarded.

2. total amount of the operation who will benefit from bonus.

3rd time limit within which investments contained in the report should be conducted.

4th schedule and conditions of financial transactions provided for, without that in no case will exceed the amount referred to in paragraph 2 above.

5 any other conditions that may be relevant.

(b) the resolution referred to in the previous number will have the character of provisional insofar as not to comply with the following procedures: 1 administrative authorization, in the form that is appropriate, when it is required for the completion of the financial transaction.

2. verification by the tax authorities after the deadline for the realization of investments, that society been born to effect and fulfilled the conditions under which subsidies had been granted. In any case, the tax administration may be anytime checks as it deems necessary to establish the appropriate follow-up of investments that the vested benefits relate.

In addition, will have provisional authorisation granted on the basis of a contract proposal as long as it is not ratified in within 15 days from the receipt of the final contract.

(c) the deadline for the provisional decision shall be one month, starting from the day following the one in which we are submitting accompanied by details and relevant documents or, where appropriate, since it will make good the omissions at the request of the tax administration.

(d) when the time limit set in the resolution for the realization of investments is not enough, the company may request, minimum notice of one month on the date that he would expire, a unique extension of it, exposing the reasons which justify this request. The tax administration notify the society the relevant resolution before the end of the regular term. Failure to do so means that the resolution has been favorable.

Fourth transitional provision. Transient changes in terms of deductions on the income from the capital and capital gains.

1. the obligation to withhold in transmissions, amortization or repayment of financial assets with explicit performance shall apply to the operations formalised since January 1, 1999.

In the transmissions of financial assets with explicit performance issued prior to January 1, 1999, if you do not register the acquisition price, the retention shall be on the difference between the emission of the asset value and the price of transmission.

Not undergo retention yields derived from the transmission, redemption or repayment of public debt securities issued prior to January 1, 1999 which, prior to this date, were not subject to withholding.

2. when received, as of January 1, 1999, explicit yields, for which, as the frequency of payments exceeding twelve months, made payments on account, the definitive retention shall be at the rate in force at the time of the chargeable event and will regularize attending the payments on account made.

Fifth transitional provision. Obligations of the fourteenth transitory provision of the tax law information.

For the purposes of the provisions of the fourteenth transitory provision of the tax law, taxpayers must submit, together with the statement by the corporation tax of the exercises which practice deduction referred to in that provision, the following information: a) identification and share in investee companies whose acquisition has generated the right to apply the aforementioned deduction.

(b) description of their activities.

(c) value and date of acquisition of the shares, as well as determined from the homogenized accounts corresponding to these accounting equity value.

(d) justification of the criteria of evaluative and temporary homogenization and imputation to the property and rights of the entity owned, of the difference between the purchase price of their shares and the accounting equity attributable to them on the date of its acquisition.

Sole final provision. Permits the Minister of finance and public administration.

Empowers the Minister of finance and public administration for: to) approve the Declaration by this tax model and determine the places and form of presentation of the same.

(b) approve the use of simplified or special modalities of Declaration, including the consolidated groups of societies statement.

(c) establish documents or supporting documents that must accompany the statement.

(d) approve the payment model and determine the place and form of presentation thereof.

e) approve the information model that should pay economic interest groupings and temporary unions of companies.

f) expand, according to well-founded reasons of a technical nature, the deadline for submission of tax returns established in the tax law and in this regulation when this presentation is performed via telematics.