4,2,19. Debts

In this section, the real charges and charges must be recorded, when the value of the respective assets and rights decreases, as well as the personal debts or obligations to be met by the taxpayer, including those related to elements relating to economic activities when the taxpayer does not keep accounting in accordance with the Commercial Code, and provided that these equity elements are not exempt from the Tax.

The charges, charges and debts related to elements that are exempt must be recorded in the section "D. Goods and exempt rights related to economic activities."

The debts will be valued at their nominal value on the date of accrual of the Tax (31 December) and will only be deductible when duly justified, without the interest being deductible in any case.

The following will not be deducted:

1. The amounts guaranteed, until the guarantor is obliged to pay the debt, for exercising the right against the principal debtor and being unsuccessful. In the case of joint and several obligations, the guaranteed amounts cannot be deducted until the right against the guarantor is exercised.

2. The mortgage that guarantees the deferred price of the purchase of a good, without prejudice to the fact that it is the deferred price or guaranteed debt.

3. The charges and charges corresponding to goods exempt from this Tax.

4. Debts incurred for the acquisition of exempt goods or rights. When the exemption is partial, the proportional part of the debts will be deductible, if applicable.

In the event of a REAL Obligation to contribute, only the charges and charges that affect the goods and rights that are carried on in Spanish territory or that can be exercised or have been fulfilled in the same, as well as the debts for capital invested in the assets indicated, will be deductible.

Completion.

On page 8 (I) a data capture window will open where it will indicate the amount of the debts corresponding to each good or right in accordance with the rules indicated above.