Tax rate and tax liability

Regulation: Article 115 LIS

In any case, the general tax rate of 25 percent provided for in article 29.1 of the LIS will be applied to the total tax base.

The general rate of Corporate Tax applies both to the part of the tax base derived from the application of the special regime and to the base part taxable amount derived from the rest of the activities that the entity could carry out and that is subject to the general tax rules.

The part of the full quota derived from applying the general tax rate to the tax base determined under the objective estimation regime , cannot be reduced by the application of any type of deduction or bonus. Likewise, the acquisition of vessels that are affected by this regime will not imply the application of any tax incentive or deduction.

The part of full tax that comes from the rest of the tax base may not be reduced by the application of deductions generated by the acquisition of the aforementioned vessels before their allocation to the special regime.

Bonuses and deductions may only be included on the full quota derived from the part of the tax base subject to the general regime and, where applicable, from the full quota derived from the income obtained as a result of the transfer of vessels subject to this special regime and that do not make up the part of the tax base determined under the objective estimation regime.