Act 7/2024 reintroduces the automatic reversal of the impairment losses on value of shares in other entities, which were tax deductible in the CIT, thus accelerating the process to three tax years (2024–2026). Consequently, this reversal has an impact on 2024 CIT.
A special regime is also established for offsetting this reversal with losses carried forward (“BINs”) from previous years.
This special regime has raised concerns among legal entities subject to CIT regarding the scope of the planned waiver.
In the tax consolidation regime, the application of the special regime for offsetting BINs leads to greater uncertainties regarding how to raise the offsetting limits both individually and at group level, as well as regarding the interaction of this special regime with the controversial criteria by the Spanish tax authorities on the application of tax credits in tax groups.