Many business owners in Spain wait until their accountant starts preparing the corporate income tax return before asking:

“Is there any way we can pay less tax this year?”

In practice, however, many corporate tax incentives cannot simply be claimed at the time of filing.

Some require advance planning, others need supporting documentation, and certain decisions must be made before year-end.

If your company expects to make a profit in 2026, here are five areas worth reviewing before the year ends.

1. Invested in AI, Automation, or New Products? Explore R&D and Innovation Incentives

Spain offers corporate income tax incentives for qualifying research, development, and technological innovation activities, commonly referred to as I+D+i (Investigación, Desarrollo e Innovación).

Many business owners assume that R&D incentives are only relevant to technology companies.

That is not necessarily the case.

Consider whether your company has undertaken projects involving AI applications, production automation, logistics system improvements, new product development, or technical process upgrades.

Some of these activities may qualify for R&D or technological innovation tax credits.

The key question is not:

“Are we a technology company?”

It is:

“Do any of the projects we carried out this year qualify for I+D+i incentives?”

Of course, using AI or purchasing software does not automatically make a project eligible. Qualification depends on the nature of the activities, eligible expenditure, and supporting documentation.

2. Expecting Higher Profits? Consider Film and Live Performance Tax Financing

This is an area that many business owners may be less familiar with.

Spain provides corporate tax incentives for qualifying film and audiovisual productions, as well as certain live performing arts projects.

Under specific legal, contractual, and tax conditions, other businesses may participate in eligible projects through structured financing arrangements and benefit from associated tax deductions.

In simple terms, qualifying cultural projects may generate tax incentives, and profitable companies with corporate income tax liabilities may be able to participate through compliant financing structures.

However, these arrangements are considerably more complex than ordinary expense deductions.

Project eligibility, contractual terms, investment timing, and the amount of available tax relief must all be assessed in advance.

Investing in a film does not automatically guarantee a tax saving.

3. Made Charitable Donations? Check Whether Tax Relief Is Available

Many companies make donations to foundations, charities, and other nonprofit organizations each year.

Business owners may view these contributions primarily as part of their corporate social responsibility activities.

However, qualifying donations to eligible organizations may also provide corporate income tax benefits.

An important distinction is that not all donations receive the same tax treatment.

If your company has made donations during 2026, consider asking your accountant or tax advisor to review the donation certificates and applicable requirements.

This can help ensure that eligible tax benefits are not missed because of incomplete documentation or overlooked conditions.

4. Purchased Machinery, Computers, or Equipment? Review Depreciation

Suppose your company spends €30,000 on equipment this year.

Does that automatically mean its taxable profit can be reduced by €30,000 in 2026?

Not necessarily.

Long-term assets such as machinery, computers, and equipment are generally subject to depreciation rules, known in Spanish tax terminology as amortización.

In simple terms, because an asset may be used over several years, its cost is often recognized for tax purposes over its useful life rather than deducted entirely in the year of purchase.

Different asset categories and business circumstances may be subject to different depreciation rules and incentives.

If your company has invested significantly in machinery, computers, production equipment, or digital infrastructure during 2026, it may be worth reviewing the tax treatment of those new fixed assets before year-end.

5. Had Losses in Previous Years? Don’t Overlook Them

This is another area that business owners sometimes forget.

Imagine a company that recorded a €100,000 loss in 2024, returned to profitability in 2025, and continued making profits in 2026.

Does the earlier loss become irrelevant once the 2024 tax return has been filed?

Not necessarily.

Spain’s corporate income tax system provides for Bases Imponibles Negativas (BINs), or tax loss carryforwards.

In general terms, qualifying tax losses from previous years may be used to offset taxable income in later profitable years, subject to applicable rules and limitations.

Companies may also have other unused tax benefits from previous years, including tax credits that could not be fully applied when they first arose.

Year-end tax planning should therefore look beyond what happened in 2026.

It should also consider:

“What tax losses, credits, or other benefits from previous years may still be available?”

Why Review These Opportunities Before Year-End Instead of Waiting Until Tax Filing?

This is the most important distinction.

Tax compliance and tax planning are not the same thing.

Tax compliance focuses on calculating and reporting tax based on transactions and events that have already occurred.

Tax planning looks ahead and asks different questions:

What has the company done this year?

What decisions can still be made before year-end?

Which projects require supporting documentation?

What unused tax benefits remain available from previous years?

If these questions are only raised when the company begins preparing its 2026 corporate income tax return in 2027, some planning opportunities may already have passed.

Five Questions to Ask Your Accountant Before the End of 2026

1. Have we undertaken any projects this year that may qualify for I+D+i tax incentives?
2. Given our expected profits and tax position, should we explore tax financing arrangements for eligible film or live performance projects?
3. Do any donations made this year qualify for corporate tax relief?
4. Are we applying the appropriate depreciation treatment to machinery, computers, and other fixed assets purchased in 2026?
5. How much of our previous tax losses and unused tax credits can we still utilize?

Finally, reducing your company’s tax bill legally does not mean concealing income or finding additional invoices to inflate expenses.

Effective tax planning means identifying and making proper use of incentives already available under the law.

Whether a particular incentive applies, how much relief is available, and which conditions must be met will depend on your company’s circumstances and the Spanish tax rules applicable to the relevant year.