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Form 100. Personal Income Tax Declaration 2019 Shares and units of collective investment institutions

From the transmission or reimbursement for consideration of shares or participations representing the capital or assets of the collective investment institutions referred to in article 94 of this Law, the capital gain or loss will be computed by the difference between their value acquisition and the transfer value, determined by the net asset value applicable on the date on which said transfer or redemption occurs or, failing that, by the last published net asset value. When there is no net asset value, the theoretical value resulting from the balance sheet corresponding to the last fiscal year closed prior to the date of accrual of the Tax will be taken.

In cases other than the redemption of units, the transfer value thus calculated may not be less than the greater of the following two:

  • The price actually agreed upon in the transmission.

  • The listing value on official secondary markets for securities defined in Directive 2014/65/EU of the European Parliament and relating to markets in financial instruments and, in particular, in organized securities trading systems authorized in accordance with the provisions of the Law of the Securities Market approved by Royal Legislative Decree 4/2015, on the date of transmission.

For the purposes of determining the acquisition value, the provisions of the Law for the transmission of securities admitted to trading in any of the regulated securities markets defined in Directive 2014/65/EU of the European Parliament and of the Council.

Notwithstanding the provisions of the previous paragraphs, in the case of transfers of shares in listed investment funds or listed SICAV index shares referred to in article 79 of the Regulation of Law 35/2003, of November 4 , of Collective Investment Institutions, approved by Royal Decree 1082/2012, of July 13, carried out on the stock exchange, the transfer value will be determined in accordance with the provisions for the transfer of securities admitted to trading.