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2021 Wealth Tax practical guide.

For the participation in the equity of entities that operate real estate in historic centres

Regulations: Article 13 of the five Consolidated Text of the legal provisions of the Autonomous Community of Galicia with regard to taxes assigned by the State, approved by Legislative Decree 1/2011 of 28 July.

Requirements for applying the deduction

  • That the assets or rights of economic content calculated for determining the taxable base include holdings in the equity of entities in whose assets are real estate located in one of the historic centres specified in the Annex to the Order of 1 March 2018.

    See Order of 1 March 2018, which determines the historical centres for the purposes of these deductions (DOG of 13). 

  • That these real estate assets are subject to an economic activity at least during the half of the calendar year corresponding to accrual.

Amount of the deduction

  • On 100% of the share corresponding proportionately to these shares. 100
  • The deduction will only reach the value of the shares, determined according to the rules of this tax, in the part corresponding to the existing proportion among these real estate assets, less in the amount of the debts intended to finance them, and the value of the entity's net assets.

    To determine this proportion, the value derived from the accounting will be taken, provided that it faithfully reflects the true equity situation of the company.


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

This deduction is also incompatible with the deduction "For the creation of new companies or the extension of the activity of recently created companies" 

Documentary justification

The ownership of the property in a historic centre will be accredited in accordance with the provisions of article of the Order of nico.2 1 March 2018 (DOG of 13), by means of a certificate issued by the corresponding town hall that the property is located located within the scope of the definition set out in the Annex to the Order of 1 March 2018.