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Form 100. Personal Income Tax Declaration 2022

7.5.3.3. Imputation of income from participation in IC institutions

  1. Income subject to imputation

    Taxpayers who are partners or participants in the collective investment institutions regulated in the Collective Investment Institutions Law will charge:

    • The capital gain or loss obtained as a result of the transfer of the shares or participations or the reimbursement of the latter.

    • The results distributed by the IIC that will be considered return on capital.

    • In the event of a SICAV capital reduction whose purpose is the return of contributions, the amount of the reduction or the normal market value of the assets or rights received will be allocated as income from the capital, up to the limit of the greater of the following: amounts:

      • The increase in the net asset value of the shares from their acquisition or subscription until the moment of the reduction of share capital.

      • When the capital reduction comes from undistributed profits, the amount of said profits. The excess over the aforementioned limit will reduce the acquisition value of the affected shares until their cancellation. In turn, the excess that may result will be integrated as income from the capital from the participation in the equity of any type of entity, in the manner provided for the distribution of the share premium.

    • In the cases of distribution of the SICAV share issue premium, the entire amount obtained, without the reduction of the acquisition value of the shares provided for in article 25.1.e) of this Law being applicable.

  2. Deferral regime

    When the amount obtained is used for the acquisition or subscription of other shares or participations in collective investment institutions, the capital gain or loss will not be computed, and the new shares or participations subscribed will retain the value and date of acquisition of the shares or participations. transmitted or refunded.

    This deferral regime will be applicable in the following cases:

    1. In the redemptions of shares in collective investment institutions that are considered investment funds.

    2. In the transfer of shares of collective investment institutions with corporate form, provided that the following two conditions are met:

      • That the number of partners of the collective investment institution whose shares are transferred is greater than 500.

      • That the taxpayer has not participated, at any time within the 12 months prior to the date of transfer, in more than 5% of the capital of the collective investment institution.

    The regime will also apply to partners or participants in collective investment institutions, regulated by Directive 2009/65/EC of the European Parliament and of the Council, of July 13, 2009, which coordinates the legal and regulatory provisions and administrative regulations on certain collective investment organizations in securities, other than those provided for in Article 95 of this Law, incorporated and domiciled in a Member State of the European Union and registered in the special registry of the National Securities Market Commission, for the purposes of its marketing by entities resident in Spain when the following requirements are met:

    1. The acquisition, subscription, transmission and redemption of shares and participations will be carried out through marketing entities registered with the National Securities Market Commission.

    2. In the event that the collective investment institution is structured into compartments or sub-funds, the number of partners and the maximum percentage of participation provided for in letter B) above will be understood to refer to each compartment or sub-fund marketed.

    3. That the redemption or transfer or, where applicable, the subscription or acquisition, does not have as its object participations or shares in collective investment institutions analogous to listed investment funds or listed index SICAVs, regardless of the regulated market or the multilateral system. of trading in which they are listed and the composition of the index that they reproduce, replicate or take as a reference.

    The deferral regime will not apply, among other cases, when by any means, the amount derived from the reimbursement or transfer of the shares or participations is made available to the taxpayer.

  3. IICC established in countries or territories that are considered non-cooperative jurisdictions 

    Personal income tax taxpayers who participate in collective investment institutions established in countries or territories that are considered non-cooperative jurisdictions will allocate to the tax base the positive difference between the net asset value of the participation on the closing day of the tax period and its net asset value. acquisition. The amount charged will be considered greater value acquisition.

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

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

    The income derived from the transfer or redemption of the shares or participations will be determined by the difference between their acquisition value and the transfer value, determined by the net asset value applicable on the date on which said transfer or redemption occurs or, where applicable default, for the last published net asset value, as the acquisition value, for these purposes, the value resulting from the application of the provisions above will be taken.

Completion

You must include in the enabled boxes both the name of the collective Institution and the amount to be charged.