| Direct
aids to investment |
| Concept |
Amount |
Comments |
| Subsidies
for major investments in production facilities |
Maximum: 25% |
* Minimum investment: 360
million pesetas.
* Minimum jobs generated:30.
* Own resources > 30% of total Liabilities.
* Industrial companies or services connected with industry.
|
| Financial
Aid for SMEs |
Reduction of
2 to 5 points (interestrate) |
* Minimum self-financing
by company: 30%.
* Minimum investment: 10 million pesetas.
* Minimum permanent staff: 3.
|
 |
| Tax
Incentives |
| Concept |
Amount |
Comments |
| Investment
processes |
45% |
* Investment processes for
amounts of over 2.500 million pesetas. |
Newly-created
Companies
Reduction of the tax base for four consecutive periods,
to start from the first year in which a positive tax
base is generated during the four-year span. |
99%, 75%, 50%
and 25%, respectively. |
* Minimum capital outlay
of 20 million.
* Not subject to fiscal transparency regime.
* Minimum investment of 80 million pesetas 10 new jobs.
* The new activity shall not have been carried out previously.
|
| Management,
co-ordination and financial centres (specificity in
the way the tax base is determined). |
Tax base = 25%
on expenses, except for financial cost. |
* Corporate bodies, taxpayers
subject to Company tax.
* Must form part of an international group of companies.
* Their pupose shall be to administer, direct, supervise
and centralise the activities of the international group
of companies to which they belong.
* Full time employment of at least 8 persons.
* Must comply with 2 conditions:
- Share capital > 250 million or own resources > 600
million.
- Annual turnover > 1000 million.
|
Small and
medium-size companies
Small: < 715 million operations volume.
Medium: < 2860 million operations volume.
* Small companies:
- With net tax base between 0 and 10 million.
- Net tax base in excess of 10 million.
* Depreciation applicable to small companies.
* Depreciation applicable to medium size-companies.
* Reinvestment of transferred assets.
|
Tax rate: 30%
Tax rate: 32.5%
Freedom to depreciate.
Table coefficient X 1.5.
Exempt.
|
* More than 80% of the capital
must be owned by physical persons.
* More than 80% of the capital must be owned by physical
persons.
* Buildings excluded.
* Buildings excluded.
* Income under 50 million and completely reinvested.
|
Creation
of employment
a) Increase in the average number of employees, with
respect to the previous tax year.
b) If included in the labour agreement, a reduction
of at least 10% of the work time and a 10% of the workforce,
which must be maintained for 3 years.
|
600.000
750.000 and also freedom of depreciation and increase
to 35% of the deduction for new investments in tangible
fixed assets.
|
* The staff increase shall
be maintained for two years.
* If the persons with the right to deductions are those
belonging to groups of persons who experience some difficulty
in finding employment, deductions may be increased a
further 500,000 pesetas.
|
Professional
Training
* Deduction from Net Company Tax Quota.
|
10% |
* Possibility of applying
a further deduction of 15% on the costs incurred during
the tax year in excess of those incurred over the two
previous years. |
Export activities
a) The setting up of branches or permanent establishments
abroad, and the acquisition of shares in foreign companies,
and the establishment or extension of Capital at subsidiary
companies in relation with export activities (25% participation).
b) Publicity and advertising costs, over several years,
in launching products, opening up markets and fairs.
|
25%
25%
|
* The limit shall be 4% of
the income from exportation activities. |
Performance
of activities in the field of R&D
a) Deduction from the Company Tax Quota.
b) Depreciation.
|
30%
Freedom of Depreciation
(Buildings 10 yrs.)
|
* Expenses incurred over
the tax period.
* Possibility of deducting an additional 20% (on the
costs incurred during the tax year in excess of those
incurred over the two previous years.)
|
| Activities
in relation with conservation and improvement of the
Enviroment |
15%
Freedom of depreciation.
|
* Investment in new tangible
fixed assets intended to reduce the impact of contamination.
* Investment in Fixed Capital Assets and Expenses incurred
in soil-cleaning operations.
* The investment should be maintained for 5 years, or
the duration of its service life if this is shorter.
|
Investment
in New Tangible Fixed Assets
Deduction from the Corporate Tax Quota.
|
15% |
* Minimun depreciation period:
5 years.
* Investment > 10 million or the drawing up of a work
contract of unspecified duration implying an increase
in staff and its maintenance over 2 years.
* The assets must be kept in operation for 5 years or
their working life if this is smaller.
|
Reserve for
Investments in Production
Deduction from the Company Tax Quota.
|
10% |
* The Reserve is materialised
after 2 years in new fixed assets (excluding vehicles
and land).
* Companys´own resources should increase by provision
made to the Reserve Fund and be maintained for 5 years.
* The assets should be kept in operation for 5 years,
or the duration of their service life if this is smaller.
|
Purchase
of Variable Interest-Bearing Securities
Deductions are always applied to the excess mean volume
for the tax period with respect to the previous such
period.
a) Purchase of shares in companies engaged in business
activities.
b) Purchase of capital shares in companies quoted on
the Bilbao Stock Exchange.
c) Purchase of shares admitted for quotation on the
Bilbao Stock Exchange.
|
5%
6,50%
8,50%
|
* Cash investments
* Investments must be made in Companies to wich the
autonomous community standards are applied.
* Maintenance of the mean volume of amounts invested:
1 year.
|
| Cash investments,
in Capital-Risk companies and enterprises dedicated
to promoting companies. |
20% |
|
| Cash investments
by the constitution of Economic Interest Groups or European
Groups of Economic Interest. |
25% |
|
Investment
in Assets of Cultural Interest, Film or Audio-visual
Productions and the publication of books.
|
10%
5%
(Book publishing)
|
* Allow a physical support
to be created.
|
|
| Aids
to Competitiveness in Small Business |
| Concept |
Amount |
Comments |
Training
|
Up to 100%
|
|
For new entrepreneurs
|
Low rental office
space and industrial buildings and provision of risk
capital |
* In order to carry out a
survey of the new business project. |
Projects
to improve competitiveness
|
Up to 50%
Maximum:
6 million / company
|
* Permanent Staff < 250
* Yearly turnover < 3350 million pesetas.
|
