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Practical Heritage Manual 2021.

By investment in agricultural companies

Regulations: Art. 13 ter.Two Consolidated text of the legal provisions of the Autonomous Community of Galicia regarding taxes transferred by the State, approved by Legislative Decree 1/2011, of July 28.

Requirements for applying the deduction

  • That the assets or rights of economic content computed for determining the tax base are:

    1. Participations in the share capital of:

      1. Forest development societies regulated in Law 7/2012, of June 28, on the mountains of Galicia.

      2. Agricultural entities, agricultural cooperatives or community exploitation of land whose exclusive purpose is agricultural activities.

      3. The entities whose objective is the mobilization or recovery of agricultural land in Galicia, under the protection of the instruments provided for in Law 11/2021, of May 14, on the recovery of agricultural land in Galicia.

    2. Loans made in favor of the same entities mentioned in letter a) above, as well as guarantees that the taxpayer constitutes personally in favor of these entities.

    3. Participations of the capitalist partners in joint accounts established for the development of agricultural activities and in which the managing participant is one of the entities mentioned in letter a) above.

  • The investments to which the deduction is applicable must be formalized in a public deed , in which the identity of the taxpayers who intend to apply this deduction and the amount of the respective operation must be specified.

  • The investments made must be maintained in the taxpayer's assets for a minimum period of five years , computed from the day following the date on which the operation is formalized in a public deed. In the case of financing operations, the maturity period must be greater than or equal to five years, and an amount greater than 20% per year of the principal amount cannot be amortized. During that same period of five years, the guarantees established must be maintained.

Deduction amount

  • 100 percent of the part of the quota that proportionally corresponds to the aforementioned assets or rights.

  • In the case of participations in the share capital of entities [section a) of the assets or rights of economic content indicated in the previous section], the deduction will only be applied to the value of These, determined according to the rules of this tax, in the part that corresponds to the proportion existing between the assets necessary for the exercise of agricultural activity, reduced by the amount of the debts derived from it, and the value of the net assets of the entity. To determine this proportion, the value deduced from the accounting will be taken, provided that it faithfully reflects the true financial situation of the entity.

  • In the case of loans or participations in joint accounts [sections b) and c) of the assets or rights of economic content indicated in the previous section], the deduction will only be applied to the amount that finances the agricultural activity of the entity. , understanding that they finance this activity in the part resulting from applying to its total amount the proportion determined in accordance with the provisions of the previous paragraph.


This deduction will be incompatible with the application for the same assets or rights of the exemptions of article 4 of the Wealth Tax Law, even if said exemption is partial.

Likewise, this deduction is incompatible with the deduction " For the creation of new companies or expansion of the activity of recently created companies "