10.11.14. For investment in agricultural companies and cooperative societies

Taxpayers may deduct 20 percent of the amounts invested in the acquisition of share capital as a result of agreements to form companies or increase capital in agricultural companies and agricultural cooperative societies or in communal land exploitation.

Also, in respect of the same entities, percent of the amounts transferred as a loan or personally guaranteed by the taxpayer, at the time of the incorporation of the company or the capital increase thereof may be deducted.

Requirements

- The taxpayer's participation cannot exceed 40 percent of the entity's share capital.

- The entities subject to investment must have their registered office and tax domicile in Galicia.

- They must have agricultural activity as their exclusive corporate purpose.

- The operations subject to deduction must be formalized in a public deed.

- The shares must be held for a minimum period of three years in the taxpayer's assets following the incorporation or expansion.

- In the case of loans, they must refer to financing operations with a term equal to or greater than 5 years.

In the case of guarantees, these must extend for the entire duration of the operation, and may not be less than five years.

Incompatibility, this deduction is incompatible, for the same investments, with the deductions "For investment in the acquisition of shares or social participations in new or recently created entities", "For investment in the acquisition of shares or social participations in new or recently created entities and their financing", and "For investment in shares of entities listed in the segment of expanding companies on the alternative stock market".

Completion

The program allows you to include up to two entities as the object of the investment. You must indicate, in a mandatory manner, the amounts invested in the entities, as well as their NIF.