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Practical Income Manual 2021.

Common limits and formal obligations to apply deductions

Regulations: Art. 18 Consolidated text of the current legal provisions issued by the Autonomous Community of the Canary Islands regarding transferred taxes , approved by Legislative Decree 1/2009, of April 21.

Common limits

  • The sum of the deductions applied to the full autonomous community fee may in no case exceed its amount.

  • No more than one of the regional deductions may be applied to the same asset.

    Consequently, regional deductions cannot be applied simultaneously for investment in a habitual residence and for works to adapt the habitual residence when the amounts that give rise to them refer to the same residence, even if the amounts invested are different.

Formal obligations

  • Taxpayers of Personal Income Tax are obliged to keep, during the limitation period, the supporting documents and documents that prove the right to enjoy the deductions from the quota that they have actually applied.

  • By Order of the Counselor of the Autonomous Community of the Canary Islands competent in tax matters, obligations of justification and information may be established for the control of the deductions referred to in the previous section.