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 corporate participations as a consequence of agreements to establish companies or increase capital in commercial companies that take the form of a Public Limited Company, Limited Liability Company, Labor Limited Company or Labor Limited Liability Company and that are considered SMEs in accordance with the definition of the same given by the Recommendation of the European Commission of May 6, 2003 and that meet the following requirements:

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% of the entity's share capital or its voting rights on any day of the calendar year.

2. That said participation is maintained for a minimum of three years from the effective date of the capital increase or incorporation agreement that gives rise to the right to the deduction.

3. The entity from which the shares or interests are acquired must meet the requirements indicated below. Those provided for in points 1, 2 and 3 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:

   1. Have the registered office and tax domicile in the autonomous community of Cantabria.

   2. Carry out an economic activity. For this purpose, it is not considered that it carries out an economic activity when its main activity is the management of movable or immovable assets.

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

   4. In the event that the investment is made through a capital increase, the commercial company must have been established in the three years prior to the date of this increase, and the average workforce of the entity during the two fiscal years following the increase must be increased 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 must be 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 can it maintain an employment relationship with the entity that is the object of the investment. These requirements 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.

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.