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Form 100. 2020 Personal Income Tax Return Declaration

7,2,3,5. Income derived from the transmission, amortization or reimbursement of other financial assets

Full income

Returns on movable capital are considered to be those derived from the transmission, reimbursement, amortization, exchange or conversion of any type of assets representative of the collection and use of foreign capital (obligations, bonds, bills, promissory notes, mortgage bonds, etc.).

Completion

In these cases, the difference between the value of transmission, reimbursement, amortization, exchange or conversion of the securities and their acquisition or subscription value will be computed as full performance.

The exchange or conversion value will be taken as the value corresponding to the values received.

Ancillary acquisition and disposal expenses will be computed for the quantification of performance, as long as they are adequately justified.

If the performance has been received in kind, the market value of the goods or services received must be computed as full income. The payment on account will be added to this value, unless its amount has been passed on to the recipient of the income.

Exclusions

The returns derived from the transmission or reimbursement of Treasury Bills and the returns derived from subordinated debt securities or preferred shares will not be included in this heading, but in the specific sections.

Inclusions

In addition, the following performances will be included in this section:

  • Income derived from temporary transfer operations of financial assets with a repurchase agreement.

  • The income paid by a financial entity, as a consequence of the transmission, assignment or transfer, total or partial, of a credit owned by it.

  • Income from any drawing instrument, including those originated by commercial operations, from the moment it is endorsed or transmitted, unless the endorsement or assignment is made as payment for a credit from suppliers or suppliers.

Negative returns

Negative returns will be recorded preceded by a minus sign (-).

However, it must be taken into account that negative returns derived from transfers of financial assets, when the taxpayer had acquired homogeneous assets within the two months before or after said transfers, will be integrated as the financial assets that remain are transferred. in the taxpayer's assets.

Lucrative transfers due to death

It is estimated that there is no return on capital in lucrative transfers, due to the death of the taxpayer, of the financial assets referred to in this section (art. 25.6 Law).

Withholdings

Likewise, this section will indicate the withholdings made or payments on account made on the accrued income, amounts that the program transfers to box 0597 of page 22 of the declaration.

Deductible expenses

Exclusively the expenses of administration and deposit of negotiable securities will be recorded as deductible expenses.