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Practical Heritage Manual 2022.

For participation in the own funds of entities that exploit real estate in historic centers

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

Requirements for applying the deduction

  • That among the assets or rights of economic content computed for the determination of the tax base are included shares in the equity of entities whose assets include real estate located in one of the historic centers determined in the annex of the Order of March 1, 2018.

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

  • That said real estate assets are affected by an economic activity for at least half of the calendar year corresponding to the accrual.

Amount of deduction

  • 100% of the portion of share that proportionally corresponds to said shares.

  • The deduction will only apply to the value of the shares, determined according to the rules of this Tax, in the part that corresponds to the proportion existing between said real estate assets, less the amount of the debts used to finance them, and the value of the net worth of the entity.

    To determine this proportion, the value deduced from the accounting records will be taken, provided that this faithfully reflects the true financial situation of the company.

Incompatibility

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

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

Documentary justification

The fact that the property belongs to a historic centre shall be accredited, in accordance with the provisions of sole article 2 of the Order of 1 March 2018 ( DOG of 13 March), by means of a certificate issued by the corresponding town hall stating that the property is located within the boundaries set out in the annex to the aforementioned Order of 1 March 2018.