7,2,3,4. Income derived from the transfer or amortization of treasury bills

This section will include the returns obtained as a result of the transfer or repayment of Treasury Bills.

Completion

The calculation of each return must be carried out individually for each security or asset.

The difference between the transfer or redemption value of the Bills and their acquisition or subscription value will be computed as the total yield.

The costs of administration and deposit of negotiable securities will be recorded.

For these purposes, administration and deposit expenses are considered to be those amounts charged by investment services companies, credit institutions or other financial institutions that, in accordance with Royal Legislative Decree 4/2015, of October 23, which approves the revised text of the Securities Market Law, have the purpose of remunerating the service derived from the performance on behalf of their holders of the service of deposit of securities represented in the form of certificates or the administration of securities represented in account entries.

Amounts that represent the consideration for discretionary and individualized management of investment portfolios, where there is a disposition of the investments made on behalf of the holders in accordance with the mandates conferred by them, will not be deductible.

If the performance is negative, it will be stated preceded by the minus sign (-).

However, it must be taken into account that negative returns derived from transfers of financial assets, when the taxpayer has acquired homogeneous assets within the two months prior to or after said transfers, will be integrated as the financial assets that remain in the taxpayer's assets are transferred.

It is estimated that there is no return on movable capital in the lucrative transfers, due to the death of the taxpayer, of the financial assets referred to in this section. The negative capital gains derived from the luctative transfer of these assets by "inter vivos" acts are also not computed.