Law 11/2020, of December 30, on the General State Budgets for the year 2021, with effects for tax periods starting on January 1, 2021, has modified article 39.7 of Law 27/2014 , of November 27, of the Corporate Tax (LIS) to extend the application of the deductions to which the Producer is entitled, regulated in the article 36.1 and 36.3 of the LIS, to the taxpayer who participates in the financing Investor of Spanish productions of feature films and short films and fictional audiovisual series , animation, documentary or production and exhibition of live performances of performing and musical arts carried out by another taxpayer, when they meet certain requirements.

To carry out the communication regulated in art. 39.7 LIS, the management "Presentation of communication regulated in article 39.7 LIS" has been created in the electronic headquarters of the State Tax Administration Agency, in order to facilitate taxpayers who intend to benefit from the deduction of this article to present the communication provided for in article 39.7 of the LIS to the Tax Administration, indicating that the financing contract and certification of compliance with requirements [a'] and [b'] of section 1 or requirement [a'] of section 3 are attached of article 36, as appropriate.

This communication must be submitted prior to the end of the tax period in which the right to deduction is generated.

The following filing procedures are reported for taxpayers of Corporate Tax and Personal Income Tax, respectively: