SMEs will be able to reduce their taxable base by 10% if they allocate an unavailable reserve.
Everyone is aware of the possibility of offsetting negative taxable income obtained in a year with profits that may be obtained in the future.
What the tax regulations now propose is precisely compensation in the opposite sense, allowing part of the profits obtained in the year not to be taxed in the same year, while providing for the possibility that these may serve to offset future losses.
Thus, for fiscal years beginning on or after 1-1-2015, a new incentive is created for small businesses that allows them to reduce their positive taxable base by up to 10% with a limit of 1 million euros.
The 10% reduction, which is therefore not taxed in the tax period in question, will be added to the taxable income of the tax periods ending in the five immediately following years, provided the entity has negative taxable income, and will be limited to that amount of negative taxable income. In other words, the 10% that was not taxed will be offset against the negative taxable income of the following five tax years until it is fully applied. However, if the negative taxable income of the following five years is insufficient to offset that reduced 10%, or even if it is nonexistent due to the achievement of the desired continued profits, the remaining amount must be included in the taxable income of the tax period corresponding to the end of the five-year period.
This is therefore an interesting incentive for deferring taxation that simply requires the allocation of an unavailable reserve for the amount of the reduction made during the time necessary for its addition, that is, for a maximum period of five years.
It should be noted that the reserve must be funded with the profits from the same period in which the reduction of the taxable base is made. Only in the event of insufficient profits, due to the fact that accounting results do not coincide with taxable bases because of the various extra-accounting adjustments that the entity must make, may the reserve be funded with the first positive results obtained in subsequent fiscal years. If, even within the following five fiscal years, sufficient profits are not obtained to fund the reserve, the requirement would not be considered breached, and no adjustment would be necessary.
A special adjustment will be required in the event of non-compliance with the allocation requirements (not due to the aforementioned situation) or if the reserve is used before the stipulated deadline. This adjustment will consist of adding to the full fee for the period in which the non-compliance occurs the full fee corresponding to the amounts that were previously reduced, increased by 5%, plus late payment interest. If the adjustment is made in a timely manner, no penalty proceedings will be initiated.
In the different posts we will expand on the different tips that Ambit Assessor offers you for an optimal fiscal closing of the 2015 fiscal year.
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A Àmbit Assessor, SL has 40 years dedicated to the tax, comptable and labor consultancy of the Pime.
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