The income obtained as taxpayers throughout 2018 is ordered, according to its origin or source, into three categories, such as yields, income imputations and capital gains, which we have already discussed in this guide urgency.
It is necessary to differentiate between the rules established for the integration and compensation of income obtained in the tax period itself and those established for the compensation of items from previous years, taking into account for this purpose the transitional regime provided for in sections 5, 6 and 7 of the 7th Transitory Provision for patrimonial losses pending compensation that come from the years 2011 to 2014.
This classification serves to quantify income. Thus, the net income is obtained by the difference between the computable income and the deductible expenses, without prejudice to the application of the reductions on the full or net income that, where appropriate, correspond.
Income imputations are quantified by directly applying the legally established criteria and rules and capital gains and losses are determined, in general, by the difference between the transfer and acquisition values.
a new classification
However, in order to calculate the income obtained in the declaration, we must, in accordance with the Personal Income Tax Law, resort to a new classification: on the one hand, general income, and, on the other, savings income.
Thus, in the general income we will include what comes from work income, real estate capital, movable capital -exclusively those provided for in section 4 of article 25 of the Personal Income Tax Law, such as those derived from intellectual property, the provision of technical assistance, the leasing of movable property, businesses or mines or subleasing and the assignment of the right to exploit the image- and those obtained through the development of economic activities.
Also part of this general income are the imputations of real estate income, international fiscal transparency, the transfer of image rights, collective investment institutions established in tax havens, economic interest groups, Spanish and European, and unions. company temporary.
And, finally, we will include the capital gains and losses that have been obtained in 2018, which do not derive from the transfer of capital elements.
savings income
Savings income is formed with the income from movable capital and the capital gains and losses revealed on the occasion of the transfer of capital elements.
In the first case, in the case of income from movable capital, we include those derived from the participation of own funds of any type of entity, those obtained by the assignment of own capital to third parties, those from capitalization operations and life or disability insurance contracts and income derived from the taxation of capital.
However, the income from movable capital corresponding to the excess of the amount of own capital transferred to a related entity with respect to the result of multiplying by three the own funds, in the part that corresponds to the participation of the taxpayer, is part of the general income. of the latter.
In this regard, it is necessary to take into account in the cases in which the relationship is defined based on the relationship of the partners or participants with the entity, the participation must be equal to or greater than 25%.
On the other hand, capital gains and losses that become apparent on the occasion of transfers of capital elements, regardless of the generation period, must be included in this savings base.
The integration and compensation of income in the general tax base has two different phases. The purpose of the first is to determine the general tax base obtained in 2018 and, the second, to offset the negative items obtained in the period itself or in previous years that are pending compensation.
General Basis Operations
Net returns are integrated and offset without limits, yielding a total positive or negative balance. If it is positive, it is included in the general tax base, without prejudice to the compensation of income from movable capital and profits and losses obtained in both cases in the year 2018.
The negative balance is offset by the positive balance of capital gains and losses that do not derive from transfers of capital elements obtained in 2018 itself.
In the case of capital gains and losses that do not derive from transfers of elements, we will integrate and compensate each other exclusively, with a positive or negative balance result. In the first case, if it is positive, we integrate it into the general tax base. If it is negative, we must compensate it with the positive balance of income and imputation of income obtained in the tax period, with a maximum limit of 25 percent of this positive balance.
And now comes a fundamental calculation to carry out this year’s declaration correctly, as it is that the rest that we have left over, that we have not compensated, we can save to compensate it in the following four years, following the order established in the Personal Income Tax Law.
Thus, first of all, we will focus on the positive balance of capital gains and losses of this same group that could have been obtained in 2018.
On the other hand, with the positive balance of income and income allocations, once the balance has been reduced by compensation for the negative balance, if any, of capital gains and losses obtained in the year.
The compensation of the negative balances of capital gains and losses of the year and of previous years pending compensation, may not jointly exceed the limit of 25 percent of the positive balance of income and income allocations before said compensations.
Compensation is made in the maximum amount allowed by each of the following years and in no case can this compensation be made outside of this four-year period by accumulating capital losses from subsequent years.
Previous exercises
Negative items from previous years pending compensation may therefore be the net negative balances of capital gains and losses not derived from transfers of capital elements corresponding to the years 2015, 2016 and 2017.
And, on the other hand, of the negative net balances of the general tax base of capital gains and losses of 2014.
In the first case, regarding the negative items from previous years pending compensation, the balances are compensated in the manner provided for the compensation of the negative balance of capital gains and losses, for which, in the first place, it is compensated with the balance positive net of capital gains and losses obtained in the 2018 financial year itself, up to the maximum amount of said balance.
Secondly, we will compensate it with the positive balance of income and income allocations, once said balance has been reduced by the compensation of the negative balance, if any, of capital gains and losses obtained in the year. The compensation of the negative balances of capital gains and losses of the year and of previous years pending compensation, may not jointly exceed the limit of 25 percent of the positive balance of income and income allocations before said compensations.
With respect to the negative net balances of the general tax base of capital gains and losses corresponding to 2014, we must proceed to differentiate between the part of the negative balance that does not come from capital transfers, which we will compensate in the same way that we have explained in the two balances from the previous paragraph. Meanwhile, the part of the negative balance derived from transfers of assets with a generation period equal to or less than one year will be offset with the positive balance, corresponding to 2018, of the equity gains and losses to be included in the savings tax base. , according to the rules of integration and compensation in the tax base of savings.
Operations on savings
The integration and compensation of income in the savings taxable base is carried out in the same way as those of the general base. For this reason, there are also two different phases: the first to determine the taxable base of the savings obtained in 2018 and, the second, to compensate with the positive balance that we have been able to obtain, the negative items from previous years that are pending compensation. .
previous negative games
Among the negative items from previous years pending compensation as of January 1, 2018, the negative balances of income from movable capital and the negative balances of capital gains and losses stand out.
These balances also include the net negative balances of capital gains and losses for the year 2014 derived from the transfer of capital elements acquired one year or less prior to the date of transfer.
With respect to these last balances, it must be taken into account that these capital gains and losses formed part, according to the regulations in force in that year, of general income and were included and offset in the general tax base.
However, with the reform of the Personal Income Tax Law of 2014, the amounts that were pending compensation as of January 1, 2015, are now compensated from that date as capital gains and losses for the year to be included in the taxable savings.
balance clearing
With the positive balance of returns on movable capital for the year 2018, once said balance has been reduced by the compensation of property losses corresponding to the year 2018, the negative returns on movable capital pending compensation for 2014 and those pending for 2015, 2016 and 2017.
In the same way, we will act with the positive balance of profits and losses for the year 2018 and the years pending compensation.
best treatment
A more favorable treatment is maintained in 2018 to offset negative income from subordinated debt or preference shares generated before January 1, 2015. After compensation, the negative balance of capital gains and losses not compensated in the previous phase, from 2014, with the rest of the positive balance of income from movable capital for the year up to the amount of the positive balance.
Joint taxation
In joint taxation, the negative items not compensated as of January 1, 2017 by the components of the family unit are compensable, even if they derive from previous tax periods in which they have taxed individually.
The negative games as a whole are…
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