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Practical Income Manual 2021.

Other general deductions from previous years

General deductions from previous years for business investment

When in a year subsequent to the one in which the deductions for business investment had been applied, non-compliance occurs with any of the requirements established in the regulations governing Corporate Tax to consolidate the right to said deductions, the regularization must be carried out by the person themselves. taxpayer in the declaration for the financial year in which the non-compliance occurred, adding to the net amount of the tax, 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.

For these purposes, it must be taken into account that, although the deduction for job creation in article 37 of the LIS is not applicable from the 2020 financial year, failure to comply with any of its requirements will determine the loss of the right to the deductions made in previous years.

However, the obligation to maintain the employment relationship for at least three years from the date of its beginning will not be deemed to have been breached when the employment contract is terminated, once the one-year trial period has elapsed, for objective reasons or dismissal. disciplinary action when one or the other is declared or recognized as appropriate, resignation, death, retirement or permanent total, absolute or severe disability of the worker.

Accuracy : See the 2019 Practical Income Manual for the requirements and amount of this deduction.

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 making donations of goods or works of art in favor of foundations or associations declared of public utility included in the scope of application of Law 30/1994, of November 24, on Foundations and of Fiscal Incentives for Private Participation in Activities of General Interest, or in the scope of application of Law 49/2002, of December 23, on the Fiscal 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 Spanish Historical Heritage and World Heritage

The loss of the right to deductions made in previous years for the aforementioned concepts may occur due to non-compliance with the requirement of permanence of the assets of the Spanish Historical Heritage in the assets of the acquirer for a period of four years.

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