Skip to main content
Practical Handbook for Companies 2021

Tax rate and tax liability

Regulation: Article 115 LIS

In any case, the general tax rate of 25 per cent provided for in Article 29.1 of the LIS shall be applied to the total tax base.

The general corporate income tax rate applies both to the part of the taxable income derived from the application of the special regime and to the part of the taxable income derived from the rest of the activities that the entity may carry out and which is subject to the general tax rules.

The part of the gross tax liability resulting from applying the general tax rate to the taxable base determined under the objective assessment system, may not be reduced by the application of any type of deduction or allowance.Likewise, the acquisition of vessels covered by this scheme shall not entail the application of any tax incentive or deduction.

The part of the gross tax liability that comes from the rest of the taxable base may not be reduced by the application of deductions generated by the acquisition of the vessels referred to before their assignment to the special regime.

Only allowances and deductions may be included on the gross tax liability derived from the part of the tax base subject to the general system and, where applicable, from the gross tax liability derived from the income obtained on the transfer of the vessels subject to this special system and which do not form part of the part of the tax base determined under the objective assessment system.