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Practical Manual for Companies 2022.

Deduction for investments in production and exhibition of live performing arts and musical shows

Regulation: Article 36.3 LIS and 94 Law 20/1991 and DA 14 Law 19/1994

  • To apply the deduction for expenses incurred in the Canary Islands in the production and exhibition of live performing arts and music shows, entities must meet the general requirements established for these deductions in article 36.3 of the LIS .

  • Percentages

    The deduction percentages established in article 36.3 of the LIS will be increased according to the provisions of article 94.1 a) of Law 20/1991, so the rate of 40 percent will be applied.

  • Limits

    The limits applicable to this deduction will be increased in accordance with the provisions of article 94.1.b) of Law 20/1991 , so it will be subject to the joint limit of 60/90 or 70/100 (La Palma, La Gomera and El Hierro) percent.

    Furthermore, the Fourteenth Additional Provision of Law 19/1994 establishes, with effect for tax periods beginning on or after January 1, 2021, a specific limit for this deduction, indicating that its amount may not exceed the result of increasing by 80 percent the maximum amount set out in article 36.3 of the LIS, when it comes to expenses incurred in the Canary Islands. Therefore, the maximum amount of this deduction will be 900,000 euros (500,000 euros x 1.8).