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Form 100. Personal Income Tax Declaration 2019 Transfer value: unaffected elements

Transmission value (Unaffected elements)

After indicating the dates of transmission and acquisition, you must provide the following information:

  • Transmission amount

    As a general rule, the actual amount for which the sale would have been carried out will be recorded.

    The amount actually paid will be taken as the actual amount of the sale value, provided that it is not lower than the normal market value, in which case the latter will prevail.

    When the transfer was for profit (inheritance or donation), the actual amount resulting from the application of the Inheritance and Donation Tax rules will be taken as the actual amount.

  • Value for wealth tax purposes in 2005 (exclusively for securities traded on organized markets acquired before 12-31-1994)

    The value will be recorded for the purposes of the Wealth Tax for the year 2005. This value will be the average trading value corresponding to the fourth quarter of 2005 included in the Order of the Ministry of Economy and Finance EHA/492/2006, of February 17. The value that must be reflected will be the result of multiplying the number of shares by their unit value.

  • Transmission costs

    The expenses and taxes inherent to the transfer will be recorded as soon as they are paid by the transferor.

The result will be obtained from the difference in the global amounts of the transfers made during the year, indicating whether any of said transfers are applied to the creation of annuities for taxpayers over 65 years of age, or affected by the application of the corrective coefficients. and the overall amount of the acquisitions.

You must check the corresponding boxes, in the transfer of assets, if these are affected by the reducing coefficients for acquisitions made before December 31, 1994. And if, for each element, you want to exhaust the existing limit of 400,000 euros to be able to apply these coefficients.

  • Term operations: amount collected in 2019 (art. 14.2.d) Law)

    Transactions in installments or with a deferred price are considered those whose price is received, totally or partially, through successive payments, provided that the period elapsed between delivery or making available and the expiration of the last term is greater than one year.

    In the case of installment operations or with a deferred price, the taxpayer may choose to proportionally allocate the income obtained in such operations, as the corresponding charges become payable.

    If it is a transaction in installments or with a deferred price, the box established for this purpose will be checked and the part of the transfer amount collected in 2019 will be indicated unless you choose to fully allocate the capital gain or loss at the time of the transaction. transmission. Additionally, you must complete the boxes corresponding to the number of years in which you will collect (excluding 2019), the year in which you will receive the last payment, the year in which you will receive the pending payments (up to a maximum of 4). and the amount to be collected in each of them. (If the number of years is greater than 4, the amounts pending collection will be reflected in the box enabled for this purpose). This information will be transferred by the program to Annex C1 of the declaration.

    The exercise of the action for the temporary attribution of the application of the criterion of deferred collections must be carried out element by element by checking the box enabled for this purpose that corresponds to the asset element.

    If the transaction was carried out in cash, this box must be left unfilled.

  • Reinvestment exemption (habitual residence)

    When the capital gain comes from the sale of the habitual residence and the amount obtained in the transfer is totally or partially reinvested in the acquisition of another habitual residence, the amount reinvested or to be reinvested must be reflected, provided that the conditions are met. regulations provided to exempt the gain derived from the sale from taxation.

    The program will calculate the capital gain obtained and the exempt amount, and will transfer the data to the corresponding section.

    • Reinvested amount:

      • Amount reinvested until 12-31-2019

        The amount reinvested during 2019 in the acquisition of a new habitual residence will be reflected.

        The reinvestment must be made, in one go or successively, in a period of no more than two years.

      • Amount committed to reinvest, after 2019, in the following two years

        The amount whose reinvestment is committed to be made within the two years following the transfer of the previous home will be stated.

        It will be understood that the reinvestment is carried out within the deadline when the sale has been carried out in installments or with a deferred price, provided that the amount of the installments is used for the purpose indicated within the tax period in which they are received.

    • Loan for the acquisition of the transferred home pending amortization:

      If the taxpayer had used external financing to acquire the transferred home, the principal of the loan pending amortization at the time of transfer will be indicated in this box.

Transfer of assets by taxpayers over 65 years of age with reinvestment of the amount obtained in annuities

Capital gains that are revealed during the transfer of assets by taxpayers over 65 years of age are exempt from tax, provided that the total amount obtained from the transfer is used to constitute a life annuity insured in their favor.

Keep in mind that the exemption for reinvestment in annuities is also applicable to capital gains derived from the transfer of assets used for economic activities, as well as to those obtained through entities attributing income when the member of the entity performs the reinvestment meeting the required requirements.

Reinvestment term

The life annuity must be established within six months from the date of transmission of the asset element.

However, when the capital gain is subject to withholding and the transfer value reduced by the amount of the withholding is used entirely to constitute a life annuity within the aforementioned period of six months. The period to allocate the withholding amount, if applicable, to the constitution of the annuity will be extended until the end of the year following the one in which the transfer is made.

Conditions and requirements for the application of the exemption

  1. The annuity contract must be signed between the taxpayer, who will have the status of beneficiary, and an insurance entity.

    In life annuity contracts, reversal mechanisms or certain benefit periods or counterinsurance formulas may be established in the event of death once the annuity has been established.

    In order to ensure that the application of the exemption of reinvestment gain provided for in article 38.3 of the Personal Income Tax Law fulfills the intended purpose, it is required for contracts entered into after April 1, 2019, in which establish reversal mechanisms, certain benefit periods or counterinsurance formulas in the event of death, compliance with the following requirements (Additional Provision Ninth Law):

    • In the case of reversal mechanisms in the event of the death of the insured, there may only be one potential beneficiary of the annuity who reverts.
    • In the case of certain benefit periods, said periods may not exceed 10 years from the constitution of the annuity.
    • In the case of counterinsurance formulas, the total amount to be received upon the death of the insured may at no time exceed certain percentages with respect to the amount allocated to the constitution of the annuity.
  2. The life annuity must have a periodicity of less than or equal to one year, beginning to be received within a period of one year from its constitution, and the annual amount of the annuities may not decrease by more than five percent with respect to the previous year.

  3. The taxpayer must inform the insurance company that the life annuity contracted constitutes the reinvestment of the amount obtained from the transfer of assets, for the purposes of applying the exemption provided for in this article.

Maximum reinvestment limit

The maximum total amount whose reinvestment in the creation of annuities will give the right to apply the exemption will be 240,000 euros.

If, as a result of the reinvestment of the amount of a transfer in a life annuity, the amount of 240,000 euros is exceeded, considering the previous reinvestments, only the amount of the difference between 240,000 euros and the amount of the previous reinvestments will be considered reinvested.

Partial reinvestment

When the reinvested amount is less than the total amount received in the transfer, only the proportional part of the capital gain obtained that corresponds to the reinvested amount will be excluded from taxation.

Reinvestment in a year other than that of the disposal

When the reinvestment is not carried out in the same year as the sale, the taxpayer will be obliged to state in the declaration for the year in which the capital gain is obtained his intention to reinvest under the conditions and deadlines indicated, completing to do so the corresponding heading.

Failure to comply with the conditions of the reinvestment, total or partial anticipation of the economic rights derived from the life annuity established

Failure to comply with any of the conditions established in this article, or the anticipation, in whole or in part, of the economic rights derived from the life annuity established, will determine the subjection to taxation of the corresponding capital gain.

In such case, the taxpayer will allocate the non-exempt capital gain to the year of its obtaining, performing complementary self-assessment, including late payment interest, and it will be presented within the period between the date on which the non-compliance occurs and the termination. of the regulatory declaration period corresponding to the tax period in which said non-compliance occurs.

  • Repurchase operations of the transferred item

    This box will be checked if the transfer causes a loss and the transferred assets (or homogeneous values) have been acquired again within the terms and conditions provided for in article 33.5, letters e), f) and g) of the Tax Law, since that the asset loss should not be computed until the subsequent definitive transfer of the reacquired assets (or homogeneous values) occurs. However, the loss must be declared and quantified in the declaration of the year in which it was generated even if it is not included for liquidation purposes.

  • Capital gains obtained from the transfer of urban properties acquired for consideration between May 12 and December 31, 2012

    You must check the corresponding box if the gain produced is from the sale of an urban property acquired between the dates May 12, 2012 and December 31, 2012.

  1. Listed shares: value for the purposes of the 2005 Wealth Tax