Rules for determining the minimum net share

Firstly, the full rate will be reduced by the amount of the applicable bonuses, including those regulated by Law 19/1994, of July 6, amending the Economic and Tax 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 result of the above operations:

• It is an amount lower than the minimum net quota calculated as indicated in the previous paragraphs, this amount will be considered, as an exception , the minimum net quota.

• If the amount is higher than the minimum net quota calculated as indicated in the previous paragraphs, the remaining deductions that are applicable will be applied, with the limits applicable in each case, up to the amount of said minimum net quota.

Deductions whose amount is determined in accordance with the provisions of Law 20/1991, of June 7, amending the fiscal aspects of the Economic Fiscal Regime of the Canary Islands, and Law 19/1994, of July 6, amending the Economic and Fiscal Regime of the Canary Islands, will be applied , respecting their own limits, even if the resulting net quota is less than the aforementioned minimum net quota .

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.