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Practical Handbook for Companies 2021

Deduction base

Regulation:Article 18 Law 49/2002.

The basis for deductions for donations, gifts and contributions made in favour of any of the following entities will be:

  1. On the monetary donations, its amount

  2. In the case of donations or gifts of goods or rights, the book value they had at the time of transfer and, failing that, the value determined in accordance with the rules of Wealth Tax.

  3. In the constitution of a real right of usufruct over real estate, the annual amount resulting from applying, in each of the tax periods of duration of the usufruct, 2 percent to the cadastral value, determined proportionally to the number of days corresponding to each tax period.

  4. In the constitution of a real right of usufruct on securities, the annual amount of dividends or interest received by the usufructuary in each of the tax periods of the duration of the usufruct.

  5. In the constitution of a real right of usufruct over other goods and rights, the annual amount resulting from applying the legal interest of the money of each financial year to the value of the usufruct determined at the time of its constitution in accordance with the rules of the Transfer Tax and Stamp Duty.

  6. In the donations or donations of works of art of guaranteed quality and goods that form part of the Spanish Historical Heritage referred to in Article 17 of Law 49/2002, the valuation carried out by the Qualification, Valuation and Export Board.In the case of cultural assets that do not form part of Spanish Historical Heritage, the Board will also assess the sufficiency of the quality of the work.

The value determined in accordance with the aforementioned rules shall have as its maximum limit the normal market value of the property or right transferred at the time of its transfer.