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Practical Income Manual 2021.

2. Deductible concepts and basis of deduction

Regulations: see articles 17 and 18 Law 49/2002, of December 23, on the tax regime for non-profit entities and tax incentives for patronage.

The types of donations that give the right to the deduction and the basis thereof are the following:

  • Monetary donations . The basis of the deduction is the amount of the donation.

  • Donations or donations of goods or rights. The basis of the deduction will be the book value that the aforementioned assets or rights had at the time of their transfer and, failing that, the value determined in accordance with the Wealth Tax regulations.

  • Membership fees for associations, other than political parties, that do not correspond to the right to receive a present or future benefit. The base of the deduction is constituted by the amount of the installments.

  • Constitution of the real right of usufruct over goods, rights or values, carried out without consideration. In these cases, the deduction base will consist of:

    1. Usufruct over real estate. 2 percent of the cadastral value of the property each year of the duration of the usufruct, determined proportionally to the corresponding number of days in each tax period.

    2. Usufruct over securities. The annual amount of dividends or interest received by the usufructuary in each of the tax periods of the duration of the usufruct.

    3. Usufruct over other assets or rights. The annual amount resulting from applying the legal interest of the money in each year to the value of the usufruct at the time of its constitution in accordance with the rules of the Tax on Property Transfers and Documented Legal Acts.

  • Donations or donations of goods that are part of the Spanish Historical Heritage or cultural goods of guaranteed quality . In both cases, the basis of the deduction will be the valuation carried out for this purpose by the Qualification, Valuation and Export Board.

The value determined in accordance with the previous rules has as its maximum limit the normal market value of the asset or right transferred at the time of its transmission.

Note: Article 23.1 of Law 49/2002 declares that the capital gains and positive income that are revealed due to the donations, donations and contributions referred to in the article will be exempt from personal income tax that taxes the income of the donor or contributor. 17 of that same Law.