Things to bear in mind with regard to tax settlements in 2021
We inform you of the main novelties for the 2021 Corporate Tax Year.
Deduction for technological innovation activities of production processes in the value chain of the automotive industry.
Article 7 of Royal Decree-Law 23/2020 of 23 June, in the wording given by the eighth final provision of Royal Decree-Law 34/2020 of 17 November, with effects for tax periods beginning in 2020 and 2021, establishes that the percentage deduction referred to in letter c) of Article 35.2 of the LIS (Corporation Tax Law) will be increased by 38 percentage points for expenses incurred in projects starting from 25 June 2020, consisting of carrying out technological innovation activities resulting in a technological advance in obtaining new production processes in the value chain of the automotive industry or substantial improvements to existing ones.Thus, this deduction increases depending on the type of taxpayer between those taxpayers who have the consideration of small and medium-sized companies in accordance with the provisions of Annex I of the Regulation (EU (European Union)) No. 651/2014 of the Commission of 17 June 2014, and those who do not. In the case of taxpayers who do not have this consideration, the increase foreseen will be 3 percentage points.