Skip to main content
Form 100. 2020 Personal Income Tax Return Declaration

8.2.3.4. Non-monetary contributions to companies

For non-monetary contributions to companies, the profit or loss will be determined by the difference between the acquisition value of the assets or rights contributed and the highest of the following amounts:

  • The nominal value of the shares or corporate interests received for the contribution or, where applicable, the corresponding part thereof. The amount of the issue premiums will be added to this value.

  • The market value of the securities received on the day the contribution is formalized or the immediately preceding day.

  • The market value of the asset or right contributed.

The transfer value thus calculated 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 branches of activity and contributions of assets related to economic activities (art. 37.3 Law)

The special regime for contributions from branches of activity and contributions of assets related to business activities in exchange for securities representing the share capital of an entity, regulated in articles 83 et seq. of the consolidated text of the Corporate Income Tax Act, may be applied to natural persons listed below provided that, once the contributions have been made, they participate in the equity of the entity receiving the contribution by at least 5%.

  • Contributions from branches of activity

  • Contributions of elements affected by economic activities.

    In both cases, the taxpayer must keep accounts of his or her economic activity in accordance with the provisions of the Commercial Code.

  • Contributions of shares or equity interests in entities resident in Spanish territory to which the special regime for Spanish or European economic interest groups and temporary business associations is not applicable, and which do not have as their main activity the management of movable or immovable assets in the terms provided for in article 4.Eight.Two of Law 19/1991, of June 6, on the Wealth Tax.

    The shares or interests contributed must represent a participation of at least 5% of the entity's equity and be in the possession of the contributor without interruption during the year prior to the date of the public document in which the contribution is formalized.

When this special regime is applicable, the income that arises as a result of the transfers made will not be included in the tax base.

For their part, shares or interests received in exchange for contributions from branches of activity or elements related to business activities will be valued, for tax purposes, at the book value of the elements transferred and taking as their seniority the date of acquisition of the element contributed. The assets contributed may not be valued, for tax purposes, at a value greater than their normal market value.