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Practical Manual of Companies 2022.

Assets subject to reinvestment

The assets in which the amount obtained in the transfer that generates the income object of the deduction must be reinvested are the following:

  1. Those belonging to tangible fixed assets, intangible assets or real estate investments assigned to economic activities whose entry into operation takes place within the reinvestment period.

  2. The values representing the participation in the capital or own funds of all types of entities that grant a participation of not less than 5 percent on the social capital of those. The calculation of the acquired participation will refer to the period established to carry out the reinvestment. These values may not generate another tax incentive at the level of tax base or full quota. For these purposes, value corrections and exemptions referred to in article 21 of RDLeg will not be considered a tax incentive. 4/2004, nor deductions to avoid double taxation.

When the values in which the reinvestment takes place correspond to entities that have assets not affected by economic activities , according to the balance sheet of the last closed year, in a percentage greater than 15 percent of the asset, the reinvestment will not be deemed to have been carried out in the amount resulting from applying the percentage obtained to the acquisition price of those securities. This percentage will be calculated on the consolidated balance sheet if the acquired securities represent a participation in the capital of a dominant entity of a group according to the criteria established in article 42 of the Commercial Code, regardless of residence and the obligation to prepare accounts. consolidated annual reports, which will include multi-group and associated entities under the terms of commercial legislation. However, the taxpayer may determine said percentage according to the market values of the elements that make up the balance sheet.

elements not affected by will be considered the participations, direct or indirect, in the entities referred to in section 4 of article 42 of the RDLeg. 4/2004 and the assets that constitute their assets, if they are part of the group referred to in the previous paragraph. The affected elements will be counted as those that meet the conditions established in numbers 1 and 2 of paragraph a) of article 4.Eight.Two of Law 19/1991, of June 6, on Wealth Tax.

Those referred to in letters a), b), c) and d) of the previous section will not be understood to be included among the values mentioned in letter ) above « Heritage elements transmitted that give the right to deduction ».

The reinvestment will not be deemed to have been carried out when the acquisition is carried out through operations carried out between entities of the same group in the sense of article 16 of the RDLeg. 4/2004 under the special regime established in Chapter VII of Title VII of the RDLeg. 4/2004. Nor will the reinvestment be deemed to have been carried out when the acquisition is made from another entity of the same group within the meaning of article 16 of the RDLeg. 4/2004, except in the case of new elements of tangible fixed assets or real estate investments