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 if it has been acquired from third parties or the production cost if it is produced by the company itself or the impact value if the activity has been affected after its acquisition. In relation to the impact, it is necessary to distinguish: 

     • If the allocation is made after January 1, 1999, the acquisition value will be taken to be the value of the asset at the time of the allocation, and the date of acquisition will be the date corresponding to the original acquisition.

     • If the affectation is made prior to January 1, 1999, the acquisition value must be taken as the one resulting from the criteria established in the Wealth Tax regulations at the time of the affectation and as the acquisition date the one that corresponds to the affectation.

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

   • Less: The amount of tax-deductible amortizations, calculating, in any case, the minimum amortization (with exceptions).

   • 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 reducing coefficients of the transitional regime are not applicable to the capital gain obtained.

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