7.4.4.9. Reduction for young farmers and activities in La Palma

1. In accordance with article 20 of Law 19/1995, of July 4, on the Modernization of Agricultural Holdings (BOE of July 5), young farmers (over 18 years of age and under 40 years old) or agricultural employees may reduce the net yield of modules by 25% in the tax periods closed during the five years following the first installation as holders of a priority exploitation, provided that, in addition, they prove the realization of a farm improvement plan.

   The qualification as a priority exploitation must be accredited by certification issued by the competent body of the Autonomous Community, or through inclusion in the General Catalog of Priority Exploitations of the Ministry of Agriculture, Fisheries and Food.

2. Taxpayers who carry out economic activities on the Island of La Palma may reduce the net yield of modules corresponding to such activities by 20%.

These reductions will be applied to the resulting net performance of modules after applying the general reduction.