7.6.3.1. Shares and interests admitted to trading on official markets

When the alteration in the value of the assets comes from the transfer for consideration of securities admitted to trading in any of the official secondary securities markets defined in Directive 2014/65/EU of the European Parliament and of the Council, of May 15, 2014, relating to financial instrument markets, and representative of the participation in own funds of companies or entities, the gain or loss will be computed by the difference between its acquisition value and the transfer value, determined by its price in said markets. on the date on which it occurs or for the agreed price when it is higher than the quote.

The acquisition value will be reduced by the amount obtained from the transfers of subscription rights made prior to January 1, 2017, with the exception of the amount of such rights that would have been taxed as capital gains.

When shareholding is not the totality of subscription rights, it shall be understood that the transferred correspond to securities acquired in the first place (art. 37.2 Law).

Subscription rights

As of January 1, 2017, the amount obtained from the transfer of subscription rights will be considered capital gain for the transferor in the tax period in which said transfer occurs.

Free shares

1. Fully paid-up shares

   In the case of fully paid-up shares, the acquisition value of both the former and the subsequent shares will result from dividing the total cost between the number of shares, both the old ones and the corresponding paid-up shares; and their seniority shall be considered to be that which corresponds to the shares from which they derive (art.37.2 Law).

2. Partially paid shares

   In the case of partially paid-up shares, their acquisition value will be the amount actually paid by the taxpayer and their seniority will be that corresponding to the date of delivery.