1st Subsection: Determination of net profits or income for the various categories of income

I. Subject to the application of articles 71 and 72 A to 73 E, the actual profit of the agricultural holding is determined and taxed according to the general principles applicable to industrial and commercial businesses, in accordance with all the legislative provisions and their implementing texts, without restriction or reservation in particular of vocabulary, applicable to industrialists or traders who have opted for the actual system but with rules…

I. – As from the first financial year opened after 31 December 1983, for crop production, income in progress consists solely of advances to crops which are entered, at their cost price, in the incoming and outgoing stocks of agricultural holdings subject to the system of taxation based on actual profits. II. – Advances to crops are represented by all costs and charges incurred during a financial year with a…

An indemnity intended to cover damage to crops caused by events of climatic origin which is acquired in respect of a financial year, but covers a loss actually incurred in respect of a subsequent financial year, is taxable in respect of the financial year in which that loss is established.

Farmers may not apply the provision for price increases provided for in 5° of 1 of Article 39 (1). The total amount of provisions for price increases set aside before 1 January 1984 may, as from the first financial year opened after that date, be reintegrated in equal fractions over a number of financial years equal to twice those in respect of which they were set aside. (1) Provision applicable…

The capital gain realised on land during the exchange transactions mentioned in 5° of II of article 150 U is not included in the taxable profit for the current financial year. In the event of a subsequent sale of the land received in exchange, the capital gain is determined on the basis of the date and value of acquisition of the original land.

In the event of a change from the taxation system provided for in article 64 bis to an actual taxation system, the receivables shown in the opening balance sheet for the first financial year subject to an actual taxation system are added to the taxable profit for that same financial year for their amount excluding tax after deduction of an 87% allowance.