Fully exempt entities

The following entities are exempt from IS:

• The State, Autonomous Communities and Local Entities.

• The autonomous bodies of the State and public-law entities of an analogous nature of the Autonomous Communities and Local Entities.

• The State Agencies of Act 28/2006.

• The Bank of Spain, the Deposit Guarantee Fund and the Investment Guarantee Funds.

• Management agencies and common services of Social Security.

• The Instituto de España and the Official Royal Academies integrated in it, as well as the institutions of the Autonomous Communities with their own language that have similar purposes to those of the Real Academia Española.

• The Public Interest Oversight Board in audit standards, professional ethics and related matters.

• The following public agencies, as well as public entities of an analogous nature of the Autonomous Communities and Local Entities: Agencia Estatal de Administración Tributaria, Agencia Española de Protección de Datos, Comisión Nacional de los Mercados y la Competencia, Comisión Nacional del Mercado de Valores, Consejo de Seguridad Nuclear, Consejo Económico y Social, Consorcio de la Zona Especial Canaria, Instituto Cervantes, Museo Nacional Centro de Arte Reina Sofía, Museo Nacional del Prado, non-transferred universities and the Consejo de Transparencia y Buen Gobierno.

The income obtained by these entities is not subject to Corporation Tax, nor to withholding on the income received; however, they are required to make withholdings, when applicable, on the income they pay to third parties. They are not required to file a Corporation Tax return.