For investment in the acquisition of shares or equity interests in new or recently created entities
Regulations: Art. 110-9 Text Consolidated provisions issued by the Autonomous Community of Aragon on transferred taxes, approved by Legislative Decree 1/2005, of September 26
Amount and maximum limit of the deduction
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20% of the amounts invested in the year in the acquisition of shares or corporate interests as a result of agreements to establish companies or to increase capital in commercial companies referred to in article 68.1 of the Personal Income Tax Law ## with the following limitations:
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This deduction may only be applied to the amount invested that exceeds the maximum base of the general deduction for investment in the acquisition of shares or interests in new or recently created entities provided for in the aforementioned article 68.1 of the Tax Law.
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If the taxpayer transfers shares or interests and chooses to apply the exemption provided for in article 38.2 of the Tax Law, only the portion of the reinvestment that exceeds the total amount obtained from the transfer of the shares or interests will form part of the deduction base corresponding to the new shares or interests subscribed. In no case may a deduction be made for new shares or interests as long as the amounts invested do not exceed the aforementioned amount.
The exemption from capital gains arising from the transfer of shares or interests when the amount obtained is reinvested in another newly or recently created entity is discussed in Chapter 11 of Volume 1 of this Manual.
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The maximum amount of this deduction will be 4,000 euros .
Requirements and other conditions for the application of the deduction
The application of the deduction is subject to compliance with the same requirements and conditions provided for in article 68.1 of the Income Tax Law in relation to the general deduction for investment in the acquisition of shares or equity interests in new or recently created entities and, in addition, following:
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The Public Limited Company, Limited Company, Public Limited Labor Company or Limited Labor Company where the investment must be made must have its registered office and tax domicile in Aragon .
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The taxpayer may be a member of the board of directors of the company in which the investment has been made, without, in any case, being able to carry out executive or management functions or maintain an employment relationship with the entity that is the object of the investment .
Loss of the right to the deduction made
Failure to comply with the established conditions and requirements entails the loss of the tax benefit and the taxpayer must include in the regional net quota of the tax return corresponding to the year in which the breach occurred the amounts unduly deducted, plus the accrued late payment interest.
Incompatibility
This deduction is incompatible , for the same investments , with the application of the regional deductions "For investment in shares of entities listed in the expansion companies segment of the Alternative Stock Market" and "For investment in social economy entities".
Note: Once the information required for the calculation of the deduction has been entered by the taxpayers entitled to it, it will be automatically transferred to 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 Andalusia, Aragon, the Principality of Asturias, the Balearic Islands, Cantabria, Castile and León, Castile-La Mancha, Catalonia, Extremadura, Galicia, Madrid, Murcia and the Valencian Community" in Annex B.9 of the declaration.