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Practical Handbook for Companies 2021

Common note to the exemptions of Article 21 of the LIS

Article 21.9 of the LIS states that the exemption provided for in this article shall not apply:

  1. To income distributed by the public regulation fund of the mortgage market.

  2. To income obtained by Spanish and European economic interest groupings, and by temporary joint ventures, when at least one of their members is a natural person.

  3. Foreign source income which the entity includes in its taxable income and in relation to which it elects to apply, if applicable, the deduction provided for in Articles 31 or 32 of this Law.