Deduction base

Article 18 of Law 49/2002 establishes that the basis for deductions for donations, gifts and contributions made in favor of any of the entities mentioned above will be:

1. In the monetary donations , its amount.

2. In the case of donations or gifts of assets or rights , the book value they had at the time of the 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 percent to the cadastral value, determined proportionally to the number of days that corresponds to each tax period.

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

5. In the constitution 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 constitution in accordance with the regulations of the Tax on Property Transfers and Documented Legal Acts.

6. In the donations or gifts of works of art of guaranteed quality and of the 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 will have as limit the normal market value of the asset right transferred at the time of its transfer.