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Practical Handbook for Companies 2021

Incompatibility

The application of the RIC is incompatible, for the same goods and expenses, with the deductions to encourage the performance of certain activities regulated in Chapter IV of Title VI of the LIS, and with the deduction for investments in the Canary Islands regulated in Article 94 of Law 20/1991.

In the case of used assets and land, with effect for the tax periods beginning on or after 7 November 2018, these may not have previously benefited from the regime provided for in this article, for allocations that had been made with profits from tax periods beginning on or after 1 January 2007 or from the deductions to encourage the performance of certain activities regulated in Chapter IV of Title VI of the LIS, or from the deduction for investments regulated in Article 94 of Law 20/1991.However, investment in used assets which have only partially benefited from the Canary Islands investment reserve scheme in the corresponding proportional part will be considered eligible.