Exceptions to the application of limiting the deductibility of financial expenses

The limitation on the deductibility of net financial expenses will not apply:

• To the credit institutions and insurance companies.

  For these purposes, those entities whose voting rights correspond, directly or indirectly, entirely to them, and whose only activity consists of the issue and placement on the market of financial instruments to strengthen the regulatory capital and financing of such entities, will be treated as credit institutions.

• In the tax period in which the extinction of entity occurs, unless it is a consequence of a restructuring operation.