Doctrine by topic · DGT Observatory

Newly Created Companies: DGT doctrinal evolution

How the DGT's position on this topic has evolved, and the rulings it rests on.

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How the DGT's position has evolved

Settled doctrine High confidence 45 rulings · 2014–2026

Current position

The deduction requires the subscription of shares or holdings that comply with the requirements of legal form, own funds, and share capital limits. The investment must involve a payment of amounts, excluding the offsetting of credits if there is no real cash contribution. The right to the deduction may be exercised in successive periods as long as the legal requirements and the company's incorporation deadlines are maintained.

The DGT's position remains constant in the application of the requirements of article 68.1 of the LIRPF (Personal Income Tax Law). Aspects regarding the offsetting of credits and the reinvestment of capital gains have been specified, but without altering the essence of the criterion. Recent evolution is limited to the application of the new rates and bases introduced by Law 28/2022.

Turning points

  1. V3269-16

    Establishes that the offsetting of due credits does not allow for the deduction as there is no payment of amounts by the subscribers.

  2. V2281-20

    Modifies the previous criterion by allowing both cash contributions and the offsetting of credits to qualify for the deduction, in accordance with the TEAC resolution.

Analysis based on 43 of 45 rulings with a stated position. Updated 23 September 2026.

Rulings on this topic

24
V0306-25 17 Mar 2025

Deduction for investment not allowed if family ownership exceeds 40%

SG de Impuestos sobre la Renta de las Personas Físicas
deducción por inversiónempresas de nueva creaciónempresas emergentescapital socialparentesco LIRPF — Ley 35/2006 del IRPF art. 68.1Ley 28/2022
Affects CompanyExpat · Non-residentIndividual
V1297-24 4 Jun 2024

Deduction for investment available for newly established companies

SG de Impuestos sobre la Renta de las Personas Físicas
deducción por inversiónempresas de nueva creaciónampliación de capitalfondos propiosincremento de patrimonio LIRPF — Ley 35/2006 del IRPF art. 68.1LIRPF — Ley 35/2006 del IRPF art. 70
Affects CompanyExpat · Non-residentIndividual
V1371-23 22 May 2023

Investment deduction applies from 1 January 2023

SG de Impuestos sobre la Renta de las Personas Físicas
deducción por inversiónempresas de nueva creaciónampliación de capitalempresas emergentesplazo de suscripción LIRPF — Ley 35/2006 del IRPF art. 68.1Ley 28/2022
Affects CompanyExpat · Non-residentIndividual
V1095-23 4 May 2023

30% deduction applies for investments in new enterprises made in 2022

SG de Impuestos sobre la Renta de las Personas Físicas
deducción por inversiónempresas de nueva creaciónempresas emergentesbase máxima de deducciónperiodo impositivo LIRPF — Ley 35/2006 del IRPF art. 68.1Ley 28/2022
Affects CompanyExpat · Non-residentIndividual
V0638-23 17 Mar 2023

Investment deduction limited to share or participation subscriptions

SG de Impuestos sobre la Renta de las Personas Físicas
deducción por inversiónempresas de nueva creaciónsuscripción de accionesparticipaciones socialesanalogía tributaria LIRPF — Ley 35/2006 del IRPF art. 68.1LGT — Ley 58/2003 General Tributaria art. 14
Affects CompanyExpat · Non-residentIndividual
V0816-21 6 Apr 2021

DGT rules that whether a company has human and material resources is a matter of fact

SG de Impuestos sobre la Renta de las Personas Físicas
deducción por inversiónempresas de nueva creaciónmedios personales y materialesactividad económicapromoción inmobiliaria LIRPF — Ley 35/2006 del IRPF art. 68.1LGT — Ley 58/2003 General Tributaria art. 89.1
Affects CompanyExpat · Non-residentIndividual
V0106-21 28 Jan 2021

Capital gains from the sale of shares may be exempt if reinvested in start-ups

SG de Impuestos sobre la Renta de las Personas Físicas
exención de ganancias patrimonialesdeducción por inversiónempresas de nueva creaciónreinversión de fondostransmisión de participaciones LIRPF — Ley 35/2006 del IRPF art. 38.2LIRPF — Ley 35/2006 del IRPF art. 68.1
Affects CompanyExpat · Non-residentIndividual

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