4.8. TRD EXCHANGE, MERGER, ABSORPTION AND DIVISION WITH DEFERRAL
The transfer of the shares of a company as a consequence of exchange, merger and spin-off operations to which the special tax deferral regime provided for in Chapter VII of Title applies will be recorded with this Transmission with Deferral (TRD) key. VII of Law 27/2014, of November 27, on Corporate Tax.
The application of this regime means that on the date of exchange, merger or spin-off, no capital gain or loss is produced on the shares transferred from the old entity, but rather the gain or loss is deferred to the future moment of transmission of the shares awarded in the new entity.
At the time of the future transfer of the shares received from the new entity, the capital gain or loss is determined by the difference between:
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The transmission price and
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The acquisition value of the old shares that were delivered in the exchange, merger or spin-off. This valuation will be increased or decreased by the amount of the complementary monetary compensation given or received.
These deferred transfer operations (TRD) must be linked to the deferred acquisition operation (ADD) of the shares in the new entity, but each one is recorded separately in the grouping of its corresponding shares.
The ADD and TRD operations will be understood to be linked when both operations have the same date and the following equality is also met:
TRD amount = ADD amount + Compensation received – Compensation delivered.
(Note: In securities exchange operations, mergers, absorptions or splits to which the special deferral regime provided for in Chapter VII of Title VII of the Corporate Tax Law does not apply, a transfer operation (TR) of the shares delivered and an acquisition transaction (AD) for the new shares received.)
TRD operation type.
Date of the operation of transfer of the shares.
Market key according to the operation carried out:
Number of titles.
Amount of the operation.
Nominal titles.
Bills.