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Form 200. Corporate Income Tax Declaration 2019

8.6.2 Basis of deduction

According to article 18 of Law 49/2002, the basis for deductions for donations, gifts and contributions made in favor of non-profit entities will be:

  1. In monetary donations, the amount.

  2. In the case of gifts or presents of assets or rights, the book value they had at the time of transfer and, failing that, the value determined in accordance with the regulations of the Wealth Tax.

  3. In the constitution of a real right of usufruct over real estate, the annual amount resulting from applying, in each of the tax periods of duration of the usufruct, 2% to the cadastral value, determined proportionally to the number of days that corresponds to each tax period.

  4. In the creation of a real right of usufruct over securities, the annual amount of dividends or interest received by the usufructuary in each of the tax periods of duration of the usufruct.

  5. In the creation of a real right of usufruct over other assets and rights, the annual amount resulting from applying the legal interest of the money of each fiscal year to the value of the usufruct determined at the time of its creation in accordance with the regulations of the Tax on Property Transfers and Documented Legal Acts.

  6. In the case of donations or gifts of works of art of guaranteed quality and of goods that form part of the Spanish Historical Heritage referred to in Article 17 of Law 49/2002, the valuation carried out by the Qualification, Valuation and Export Board. In the case of cultural assets that do not form part of the Spanish Historical Heritage, the Board will also assess the sufficiency of the quality of the work.

The value determined in accordance with the rules expressed will have as its maximum limit the normal market value of the asset or right transferred at the time of its transfer.

Taxpayers will have the right to deduct 35% of the deduction base from the full amount, less the deductions and bonuses provided for in Chapters II, III and IV of Title VI of the LIS . The amounts corresponding to the tax period not deducted may be applied in the settlements of the tax periods that conclude in the next 10 years.

If in the two immediately preceding tax periods donations, gifts or contributions with the right to deduction have been made in favor of the same entity for an amount equal to or greater than that of the previous tax period, in each of them, the deduction percentage applicable to the deduction base in favor of that same entity will be 40 percent.

The deduction base may not exceed 10% of the taxable base of the tax period. Amounts exceeding this limit may be applied in tax periods ending in the next ten years.