Affected elements: Transmission and acquisition value

1. Transmission value

   • 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, without exceeding the market value.

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

2. Cost price

   The acquisition value for affected elements will be made up of:

   • The acquisition value of the good (or production cost or affectation value)

   • Further: The cost of investments or improvements made in the transferred element.

   • Less: The amount of tax-deductible amortization, calculating, in any case, the minimum amortization.

   • Less: The amount of partial disposals that, if applicable, had been carried out previously, as well as the losses suffered by the asset element.

   The program does not contemplate the calculation of profits or losses derived from equity elements covered by the Balance Sheet Update.