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Form 100. Personal Income Tax Return 2023

Affected elements: Transfer and acquisition value

  1. Transmission value

    • Transfer amount

      As a general rule, the actual amount for which the sale was made will be recorded.

      The actual amount of the sale value will be taken as the amount actually paid, provided that it is not less than the normal market value, in which case the latter will prevail.

      When the transfer has been for profit (inheritance or donation), the actual amount will be taken as the amount resulting from the application of the rules of the Inheritance and Gift Tax, without being able to exceed 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 consist of:

    • The acquisition value of the asset if it has been acquired from third parties or the production cost if it is produced by the company itself or the allocation value if it has been allocated to the activity after its acquisition. In relation to the affectation, it is necessary to distinguish: 

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

      • If the allocation is made before 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 allocation and the acquisition date must be the one corresponding to the allocation.

    • Further: The cost of investments or improvements made to the transferred item.

    • Less: The amount of tax-deductible amortization, computing, in all cases, the minimum amortization ( except for exceptions ).

    • Less: The amount of any partial sales that may have been made previously, as well as any losses suffered by the asset.

The reduction 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 assets covered by the Balance Sheet Update.