10,11,14. For investment in agricultural companies and cooperative companies
Taxpayers can deduct 20% of the amounts invested in the acquisition of capital as a result of agreements to set up companies or increase capital in agricultural companies and agricultural cooperatives or Community operations on land.
They may also deduct, with respect to the same entities, 20% of the amounts transferred in a loan or personally guaranteed by the taxpayer, at the time of the company's incorporation or the capital increase of the company.
The maximum limit of the deduction is 20,000 euros, regardless of the number of members of the family unit that satisfies the amounts that give entitlement to it.
- The taxpayer's participation, together with those of the spouse or of the persons connected by reason of kinship, in direct or collateral line, by blood or affinity up to the third degree inclusive may be greater than 40% of the company's share capital or its voting rights at no time and for the three years following the constitution or extension.
- The entities that are the subject of investment must have their registered office in Galicia for the three years following the constitution or extension.
- The exclusive corporate purpose of the agricultural activity must be the farming activity.
- The transactions subject to deduction must be formalized in a public deed.
- The investments must be maintained for a minimum period of three years in the taxpayer's assets, following the constitution or extension.
- In the case of loans, they must refer to financing operations with a term of 5 years or more.
- In the case of guarantees, these must be extended for the duration of the operation, and cannot be less than five years.
This deduction is incompatible, for the same investments, with the deductions "For investment in the acquisition of shares or social holdings in new or recently created entities, "For investment in the acquisition of shares or social holdings in new or recently created entities and their financing, "and" For investment in shares of companies listed in the expanding companies segment of the stock market. "
The program allows up to two entities to be included in the investment, and must enter, in a mandatory manner, the amounts invested in the entities, as well as their NIF (Personal Tax ID).