Other general deductions from previous years

General deductions from previous years for business investment

When, in a fiscal year following the one in which the deductions for business investment were applied, any of the requirements established in the regulations governing Corporate Tax to consolidate the right to said deductions are not met, the regularization must be carried out by the taxpayer himself in the declaration for the fiscal year in which the non-compliance occurred, adding to the net tax amount, in the terms discussed in the first two points above, the amount of the deductions made whose right would have been lost for this reason, plus the late payment interest corresponding to the period during which the deduction was enjoyed.

Deductions for donations of goods or works of art covered by Law 30/1994 or Law 49/2002

The loss of the right to the corresponding deduction for donations of goods or works of art in favor of foundations or associations declared to be of public utility included in the scope of application of Law 30/1994, of November 24, on Foundations and Tax Incentives for Private Participation in Activities of General Interest, or in the scope of application of Law 49/2002, of December 23, on the Tax Regime of Non-Profit Entities and Tax Incentives for Patronage, may occur as a consequence of the revocation of said donations.

Deductions for investments or expenses in assets of cultural interest and for actions for the protection and dissemination of the Spanish Historical Heritage and the World Heritage

The loss of the right to deductions made in previous years for the aforementioned concepts may occur due to failure to comply with the requirement that the assets of the Spanish Historical Heritage remain in the assets of the purchaser for a period of four years.

See, within Chapter 16, when examining this deduction the period of permanence of these assets in the estate of their owner.

Deductions for business savings accounts

Until December 31, 2014, 15 percent of the amounts deposited during the tax period in the so-called "business savings account" was deductible, intended to establish a New Business company regulated in Chapter XII of Law 2/1995, of March 23, on Limited Liability Companies when certain requirements and circumstances were met, with a limit of the deduction base of 9,000 euros per year.

Please note that Law 2/1995, of March 23, on Limited Liability Companies was repealed by the sole repealing provision 3 of Royal Legislative Decree 1/2010, of July 2, approving the revised text of the Capital Companies Law ( BOE of 3).

As of January 1, 2015, this deduction was eliminated.

However, with respect to deductions already made for amounts deposited in company savings accounts in years prior to 2015, and in accordance with what was indicated in section 5 of article 68.6 of the Income Tax Law in the wording prior to its deletion, right to them be lost in the following :

1. When the taxpayer has transferred the shares of the New Company company inter vivos within 2 years following the start of its activity.
2. When the New Business Company does not meet the conditions that determine the right to this deduction.

   To find out the conditions that determine the right to this deduction see article 68.6 of the Income Tax Law, in the version in force until 31 December 2014.