Rules to determine the minimum liquid quota
Know the rules to determine the minimum liquid contribution in Corporate Tax
Firstly, the full fee will be reduced by the amount of the applicable bonuses, including those regulated in Law 19/1994, of July 6, modifying the Economic and Fiscal Regime of the Canary Islands, and by the amount of the deduction provided for in article 38 bis of Law 27/2014.
Secondly, the deductions for double taxation regulated in articles 31, 32, 100 and the twenty-third transitional provision of Law 27/2014 will be applied, respecting the limits that are applicable in each case.
If as a consequence of the previous operations:
- An amount is lower than the minimum liquid quota calculated as indicated in the previous paragraphs; this amount will, as an exception , be considered the minimum liquid quota.
- If an amount is greater than the amount of the minimum liquid quota calculated as indicated in the previous paragraphs, the remaining deductions that are appropriate will be applied, with the limits applicable in each case, up to the amount of said minimum liquid quota.
The deductions whose amount is determined in accordance with the provisions of Law 20/1991, of June 7, modifying the tax aspects of the Economic Fiscal Regime of the Canary Islands, and in Law 19/1994, of July 6, of modification of the Economic and Fiscal Regime of the Canary Islands, will be applied , respecting their own limits, even if the resulting liquid quota is lower than the aforementioned minimum liquid quota .
The amounts not deducted by application of the previous rules may be deducted in the following tax periods in accordance with the regulations applicable in each case.