7.6.3.6. Spin-off, merger or absorption of companies

General scheme

In the case of a spin-off, merger or absorption of companies, the taxpayer's capital gain or loss will be computed as the difference between the acquisition value of the securities, rights or values representing the partner's participation and the market value of the securities, cash or rights received or the market value of those delivered.

Special regime

When the special regime for corporate mergers and spin-offs regulated by the Corporate Tax Law is applicable, the following rules shall be taken into account:

Income arising from the attribution of securities from the acquiring entity to the shareholders of the transferring entity will not be included in the tax base.

For tax purposes, the securities received are valued at the value of those delivered, determined in accordance with personal income tax regulations. This valuation will be increased or decreased by the amount of the additional monetary compensation delivered or received. The values received will retain the date of acquisition of those delivered.