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Form 100. 2019 Personal Income Tax return Non-monetary contributions to companies

From non-monetary contributions to companies, the gain or loss will be determined by the difference between the acquisition value of the assets or rights contributed and the greater amount of the following:

  • The nominal value of the shares or share holdings received by the contribution or, where applicable, the corresponding share of the contribution. The amount of the issue premiums will be added to this value.

  • The share price of the securities received on the day the contribution is made or the previous one.

  • The market value of the asset or right provided.

The calculated transfer value will be taken into account to determine the acquisition value of the securities received as a result of the non-monetary contribution.

Special regime for contributions from activity branches and contributions of equity elements relating to economic activities (Article 37,3 Act)

The special scheme of contributions from activity branches and contributions of equity elements used for business activities in exchange for securities representing the share capital of an entity, regulated in Articles 83 and following of the consolidated text of the Corporation Tax Act, may be applied to individuals who , below are always listed whenever, once the contributions have been made, they participate in the bank's own funds that receive the contribution at least 5 per 100.

  • Contributions from activity branches

  • Contributions of elements related to economic activities.

    In both cases, the taxpayer must keep the accounting records of their economic activity in accordance with the provisions of the Commercial Code.

  • Contributions of shares or social holdings in entities resident in Spain to which the special economic interest scheme is not applicable, Spanish or European companies, and temporary partnerships of companies, and do not have as their main activity the management of movable or immovable assets under the expected terms in article 4.Ocho.Dos of the Wealth Tax Act 19/1991, of 6 June.

    The shares or shares contributed must represent at least 5 per cent of the bank's equity and be held by the contributor uninterruptedly during the year prior to the date of the public document in which the contribution is formalized. 100

When this special regime is applicable, the income that is shown as a result of the transfers made will not be included in the taxable amount.

Shares or shares received in exchange for contributions from activity branches or elements related to business activities, for tax purposes, they will assess the book value of the elements transferred and, as their age, will take the acquisition date of the contributed element. The capital assets contributed may not be valued, for tax purposes, for a value greater than their normal market value.