The PSOE has presented a legislative amendment aimed at modifying the Corporate Tax Law to restore limits on the offsetting of negative taxable bases and deductions for international double taxation, declared null by the Constitutional Court in January 2024.

This proposed measure would affect the fiscal year 2024, adjusting the limits on the offsetting of taxable bases to 50% for entities with turnover exceeding 20 million euros, and to 25% for those exceeding 60 million euros.

On the other hand, the deduction for international double taxation would be limited to 50% for companies with turnover exceeding 20 million euros.

The amendment also contemplates extending until 2024 the measure that restricts the inclusion of 50% of negative individual taxable bases in the declaration of business groups taxed under the fiscal consolidation regime, with gradual integration in subsequent years.

Likewise, it seeks to reintegrate fiscally deductible impairments of participations, affecting those pending reversal since before 2013, in the first tax period beginning after January 2024.

With this amendment, the aim is to counteract the effects of the nullity declaration by the Constitutional Court in its judgment of January 18, 2024, regarding the same measures approved in 2016 and which lost their validity as a consequence of the mentioned judgment.

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