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Practical Handbook for Companies 2021

Box 00070 Offsetting negative tax bases for start-ups (Article 26.3 LIS)

Check this box newly created entities referred to in article 29.1 of the LIS, and which, in accordance with article 26.3 of said Law, do not apply the 70 per cent limit established in the first paragraph of article 26.1 of the LIS for the offsetting of tax losses.

According to Article 26.3 of the LIS, these newly created entities will not apply the 70 per cent limit in the first three tax periods in which a positive taxable income is generated prior to its offset.