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Form 100. Personal Income Tax Return 2021

8.2.5.2. Collective investment institutions in territories classified as non-cooperative jurisdictions

Imputation of income

Taxpayers who participate in collective investment institutions established in countries or territories that are considered non-cooperative jurisdictions will impute to the general income of the tax period the positive difference between the net asset value of the participation on the closing date of the tax period and its acquisition value.

It will be presumed, unless proven otherwise, that this difference is 15% of the acquisition value of the share or participation.

The amount charged will be considered greater value acquisition.

The profits distributed by the collective investment institution will not be imputed and will reduce the acquisition value of the share.

Shares or interests acquired before 1-1-99 (DT 8 Law)

For the purposes of calculating the excess of the net asset value, the acquisition value will be taken as the net asset value as of January 1, 1999, with respect to the shares and stocks owned by the taxpayer in it.

The difference between this value and the effective acquisition value shall not be taken as the acquisition value for the purposes of determining the income derived from the transfer or reimbursement of the shares or interests.

Benefits obtained before 1-1-99 (DT 8 Law)

Dividends and profit shares distributed by collective investment institutions, which derive from profits obtained prior to 1 January 1999, shall be included in the tax base of the partners or participants thereof.

For these purposes, it shall be understood that the first distributed reserves have been allocated with the first profits earned.

Until the countries or territories that are considered non-cooperative jurisdictions are determined, the following will be considered as such:

  1. Eel
  2. Old and bearded
  3. Bermuda
  4. Emirate of the State of Bahrain
  5. Fiji
  6. Gibraltar
  7. Granada
  8. Isle of Man.
  9. Cayman Islands
  10. Cook Islands
  11. Guernsey and Jersey Islands
  12. Falkland Islands
  13. Mariana Islands
  14. Solomon Islands
  15. Turks and Caicos Islands
  16. British Virgin Islands
  17. United States Virgin Islands.
  18. Macau
  19. Mauricio
  20. Montserrat
  21. Principality of Liechtenstein
  22. Principality of Monaco
  23. Hashemite Kingdom of Jordan
  24. Republic of Dominica
  25. Republic of Liberia
  26. Republic of Nauru
  27. Republic of Seychelles
  28. Republic of Vanuatu
  29. Lebanese Republic
  30. St. Vincent and the Grenadines
  31. St. Lucia
  32. Sultanate of Burei