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Practical Income Manual 2021.

By investment by an angel investor for the acquisition of shares or social participations

Regulations: Art. 20 Law 26/2009, of December 23, on fiscal, financial and administrative measures, of the Autonomous Community of Catalonia.

(*) This article has been modified by article 52 of Law 7/2011, of July 27, on Fiscal and Financial Measures (DOGC 07-29-2011- BOE 08-16-2011)

Amounts and maximum limits of the deduction

  • 30 percent of the amounts invested during the year in the acquisition of shares or corporate participations as a result of agreements to establish companies or increase capital in the commercial companies that are listed below detail, with the maximum deduction limit of 6,000 euros.

  • 50 percent of the amounts invested during the year, with a limit of 12,000 euros, in the case of companies created or owned by universities or research centers .

Note: In the case of a joint return, these limits apply to each of the taxpayers.

Requirements and other conditions for the application of the deduction

  1. The participation obtained by the taxpayer, computed together with those of the spouse or persons united by reason of kinship , in a direct or collateral line, by consanguinity or affinity up to the third degree included, cannot exceed 35 percent of the share capital of the company that is the object of the investment or its voting rights.

  2. The entity in which the investment must materialize must meet the following requirements:

    1. It must be a Public Limited Company, Limited Company, Labor Limited Company or Labor Limited Company .

    2. You must have social and tax domicile in Catalonia .

    3. You must carry out an economic activity .

      To this end, its main activity should not be the management of movable or real estate assets, in accordance with the provisions of article 4. Eight. Two. a) of State Law 19/1991, of June 6, on Wealth Tax.

    4. You must have, at least, one person employed with a full-time employment contract, and registered in the general Social Security regime.

    5. In the event that the investment has been made through a capital increase, the commercial company must have been incorporated in the three years prior to the date of this increase and cannot be listed on the market national securities market or in the alternative stock market.

    6. The annual turnover volume must not exceed one million euros .

  3. The taxpayer can be part of the board of directors of the company in which the investment has been made, but can under no circumstances carry out executive or management functions. Nor can you maintain an employment relationship with the entity that is the object of the investment.

  4. The operations in which the deduction is applicable must be formalized in a public deed , which must specify the identity of the investors and the amount of the respective investment.

  5. The acquired shares must be maintained in the taxpayer's assets for a minimum period of three years.

The requirements established in numbers 2, 3 and 4 of letter b above, and the maximum participation limit of 35 percent referred to in letter a above, must be met for a minimum period of three years from the date of effectiveness of the capital increase agreement or constitution that gives rise to the right to deduction.

Loss of the right to the deduction made

The requirements and conditions required to be entitled to the deduction must be maintained for a minimum period of three years counting from the date of effectiveness of the capital increase agreement or incorporation of the company. discussed in the previous paragraph. Failure to comply will determine the loss of the right to the deduction made, so the taxpayer must include in the tax return Personal Income Tax corresponding to the year in which non-compliance has occurred: the part of the tax that has not been paid as a result of the deduction made, together with the accrued late payment interest.

Important: Taxpayers entitled to the deduction must complete the section "Additional information to the regional deduction for investment in the acquisition of shares and social participations in new or recently created entities" of Annex B.8 of the declaration in which, in addition to the amount of the investment with the right to deduction, the NIF of the newly or recently created entity must be stated and, if it exists, that of the second entity, indicating the total amount of the deduction for investments in new or recently created companies in the corresponding box.