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Practical manual for Income Tax 2020.

By investment by an angel investor for the acquisition of shares or social participations

Regulations: Art. 20 Law 26/2009, of December 23, on fiscal, financial and administrative measures, of the Autonomous Community of Catalonia.

Amounts and maximum limits of deductions

  • 30% of the amounts invested during the year in the acquisition of shares or corporate interests as a result of agreements to form companies or increase capital in the commercial companies detailed below, with a maximum deduction limit of 6,000 euros.
  • 50% of the amounts invested during the financial year, with a limit of 12,000 euros, in the case of companies created or participated in by universities or research centres .

Note: In the case of a joint declaration, these limits apply to each of the taxpayers.

Requirements and other conditions for the application of the deduction

  1. The participation obtained by the taxpayer, computed together with those of the spouse or persons related by reason of kinship , in a direct or collateral line, by consanguinity or affinity up to the third degree included, cannot exceed 35% of the share capital of the company that is the object of the investment or its voting rights.

  2. The entity in which the investment is to be made must meet the following requirements:

    1. It must be in the nature of Public Limited Company, Limited Company, Labor Public Limited Company or Labor Limited Company .
    2. It must have the registered office and tax domicile in Catalonia .

    3. Must carry out a economic activity .

      For this purpose, its main activity must not be the management of movable or immovable assets, in accordance with the provisions of Article 4. Eight. Two. a) of State Law 19/1991, of June 6, on Wealth Tax.

    4. You must have at least one person employed with a full-time employment contract, and registered in the general Social Security system.
    5. In the event that the investment has been made through a capital increase, the commercial company must have been established in the three years prior to the date of this increase and cannot be listed on the national stock market or on the alternative stock market.
    6. The annual turnover volume must not exceed one million euros .
  3. Taxpayer may be a member of the board of directors of the company in which the investment has been made, but may not, under any circumstances, carry out executive or management functions. You may also not maintain an employment relationship with the entity that is the object of the investment.
  4. The operations in which the deduction is applicable must be formalized in a public deed , in which the identity of the investors and the amount of the respective investment must be specified.
  5. The acquired shares must remain in the taxpayer's assets for a minimum period of three years.

The requirements established in numbers 2, 3 and 4 of letter b above, and the maximum participation limit of 35% referred to in letter a above, must be met for a minimum period of three years from the effective date of the capital increase or incorporation agreement that gives rise to the right to the deduction.

Loss of the right to the deduction made

The requirements and conditions required to be entitled to the deduction must be maintained for minimum period of years from the effective date of the capital increase agreement or incorporation of the company discussed in the previous paragraph. Failure to comply will result in the loss of the right to the deduction made, so the taxpayer must include in the IRPF declaration corresponding to the year in which the failure to comply occurred the part of the tax that has not been paid as a result of the deduction made, together with the accrued late payment interest.

Important: Taxpayers entitled to the deduction must complete the section "Additional information on the regional deduction for investment in the acquisition of shares and equity interests in new or recently created entities" in Annex B.7) of the declaration in which, in addition to the amount of the investment entitled to deduction, the NIF of the newly or recently created entity must be stated and, if applicable, that of the second entity, indicating the total amount of the deduction for investments in newly or recently created companies in the corresponding box.