News published in INFORMA 2021
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143885 - DEDUCTION FOR INVESTMENTS IN FILM PRODUCTIONS, AUDIOVISUAL SERIES AND LIVE PERFORMING AND MUSICAL ARTS SHOWS. FOREIGN PRODUCTION: EXPENSES CAUSED BY COVID 19The expenses derived from implementing various risk prevention measures, which involve assuming a series of labor costs, infrastructure costs and the acquisition of materials cannot be part of the base of the deduction provided for in article 36.2 of the LIS to the extent that said provision requires that the expenses be directly related to production.
143893 - DEDUCTION FOR EXPENSES MADE IN THE PRODUCTION AND EXHIBITION OF LIVE PERFORMING AND MUSICAL ARTS SHOWS IN THE CANARY ISLANDSWith effect for tax periods beginning on or after January 1, 2021, the amount of the deduction for expenses incurred in the production and exhibition of live performing arts and musical performances , referred to in section 3 of article 36 of Law 27/2014, on Corporate Tax, may not be higher than the result of increasing by 80 percent the maximum amount to referred to in said article when it comes to expenses incurred in the Canary Islands.
143884 - NON-PROFIT ENTITIES SINCE 1-1-2021With effect from January 1, 2021, Law 14/2021, of October 11, modifies article 2 of Law 49/2002, of December 23, in relation to which entities are considered without profit purposes.
142812 - DEDUCTION FOR EXPENSES MADE IN SPANISH TERRITORY IN THE EXECUTION OF A FOREIGN PRODUCTION OF FILM FEATURE FILMS OR AUDIOVISUAL WORKS IN THE CANARY ISLANDSFor the tax periods beginning in 2020, producers registered in the Administrative Registry of Cinematographic Companies of the Institute of Cinematography and Audiovisual Arts, who are responsible for the execution of a foreign production of feature films or audiovisual works, made in the Canary Islands, which allow the preparation of a physical support prior to its serial industrial production, will be entitled for the expenses incurred in the Canary Islands to a deduction of 54% with respect to the first million base of the deduction and 45% on the excess of said amount. The amount of this deduction may not exceed 12.4 million euros for each production carried out in the Canary Islands. For tax periods beginning in 2021, this amount rises to 18 million.
142811 - DEDUCTION FOR INVESTMENTS IN SPANISH FILM PRODUCTIONS IN FEATURE FILMS AND SHORT FILMS AND AUDIOVISUAL SERIES OF FICTION, ANIMATION OR DOCUMENTARY IN THE CANARY ISLANDSFor the tax periods that begin during 2020, investments in Spanish productions of feature films and short films and audiovisual fiction, animation or documentary series, made in the Canary Islands, that allow the preparation of a physical support prior to their industrial production serial, will entitle the producer to a deduction of 54% with respect to the first million base of the deduction and 45% on the excess of said amount. The amount of this deduction may not exceed 12.4 million euros for each production carried out in the Canary Islands. For tax periods that begin in 2021, this amount rises to 18 million.
143886 - PROVISION FOR FUTURE COMPENSATION FOR DISMISSALA provision that is intended to cover the risk derived from a possible future compensation in the event of dismissal of workers is not tax deductible.
143164 - CAPITALIZATION RESERVE REDUCTION. SUPPLY FOR SUCCESSIVE YEARS: ORDER OF APPLICATIONThe reduction of the tax base corresponding to the allocation of the capitalization reserve, when there are amounts pending to be applied from previous periods together with that generated in the period itself, the taxable person may apply them in the order they want , since there is nothing established about whether one or the other has to be applied first.