10.6.7. For investment in the acquisition of shares or interests in new or recently created entities

Amount and requirements

Taxpayers may deduct 15% of the amounts invested during the year, with the limit of 1,000 euros per year in the acquisition of shares or social interests as a result of agreements to form companies or increase capital in public limited companies, limited companies, public limited employee companies, limited employee companies or cooperatives and which are considered SMEs in accordance with the definition thereof given by the recommendation of the European Commission of 6 May 2003, provided that the following requirements are met:

1. The taxpayer's participation, computed together with that of the spouse or persons related by reason of kinship, in a direct or collateral line, by consanguinity or affinity, up to the third degree included, may not exceed 40 percent of the share capital of the company that is the object of the investment or its voting rights.

2. That said participation is maintained for a minimum of three years.

3. The entity from which the shares or interests are acquired must meet the following requirements set out in points 1, 2 and 3 for a minimum period of three years:

   1. It must have its registered office and tax domicile in the autonomous community of Cantabria and maintain it for three years following its incorporation or expansion.

   2. Must carry out an economic activity. For this purpose, its main activity must not be the management of movable or immovable assets.

   3. In the event that the investment made corresponds to the establishment of the entity, and from the first fiscal year, it must have at least one person employed with a full-time employment contract, registered in the General Social Security Regime, and resident in the Autonomous Community of Cantabria.

   4. In the event that the investment was made through a capital increase, the commercial company must have been established in the three years prior to the date of this increase, and in addition, the average workforce of the entity during the two fiscal years following the increase increases with respect to the average workforce it had in the previous twelve months by at least one person with the above requirements, and said increase is maintained for at least another 24 months.

      To calculate the company's total average workforce and its increase, the number of people employed will be taken into account, in accordance with the terms established by labour legislation, taking into account the contracted working hours in relation to the full working day.

4. The taxpayer may be a member of the board of directors of the company in which the investment was made, but may not perform executive or management functions under any circumstances. Nor may the company maintain an employment relationship with the entity that is the object of the investment during that same period. This requirement must be met for a minimum period of three years from the effective date of the capital increase or incorporation agreement that gives rise to the right to the deduction.

5. The operations to which the deduction is applicable must be formalized in a public deed, in which the identity of the investors and the amount of the respective investment must be specified.

6. The shares acquired must remain in the taxpayer's assets for a minimum period of three years following the incorporation or expansion.

Failure to comply with the above will result in the loss of the tax benefit.

Completion

The window will reflect the amounts paid by the holder of the declaration and the NIF of the entity.

In the case of marriage, if the amount paid corresponds to the spouses in equal parts, each of them will reflect 50% of the total amounts paid.

The program will transfer the data to Annex B.8 of the declaration.