Law 11/2020, of December 30, on the General State Budget for the year 2021, with effect for tax periods beginning on or after January 1, 2021, has amended article 39.7 of Law 27/2014, of November 27, on Corporate Income Tax (LIS) to extend the application of the deductions to which the Producer is entitled, regulated in article 36.1 and 36.3 of the LIS, to the taxpayer who participates in the financing Investor of Spanish productions of feature films and short films and of audiovisual series of fiction, animation, documentary or production and exhibition of live shows of performing and musical arts carried out by another taxpayer, when meet certain requirements.

To carry out the communication regulated in art. 39.7 LIS, the management "Presentation of communication regulated in art. 39.7 LIS" has been created in the electronic headquarters of the State Tax Administration Agency, in order to facilitate that taxpayers who intend to benefit from the deduction of this article present the communication provided for in article 39.7 of the LIS to the tax administration, indicating that the financing contract and certification of compliance with requirements [a'] and [b'] of section 1 or requirement [a'] of section 3 of article 36, as appropriate, are attached.

This communication must be submitted prior to the end of the tax period in which the right to the deduction is generated.

The following filing procedures are provided for taxpayers of Corporate Tax and Personal Income Tax, respectively: