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 regarding 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 include participations in the own funds of entities whose assets include real estate located in one of the historic centers determined in the annex to 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 is subject to an economic activity for at least half of the calendar year corresponding to the accrual.
100 percent of the part of the quota that proportionally corresponds to said shares.
The deduction will only reach 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, minus the amount of the debts intended to finance them, 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 company.
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 "
The belonging of the real estate to a historic center will be accredited, in accordance with the provisions of article 2 of the Order of March 1, 2018 ( DOG of March 13), by means of a certificate issued by the corresponding city council that the real estate is located within the delimitation set in the annex to the aforementioned Order of March 1, 2018.