Phase 2: Determination of the net reduced return

Regulations: See Annex II and instructions 2.2 of Order HAC/1264/2018, of November 27 (BOE of 30).

The reduced net return is the result of reducing the previous net return by the amount of employment and investment incentives, in the manner established below:

1. Reduction due to employment incentives
2. Minority due to investment incentives