4.2.81 Codes 00518 and 00519 real estate transfer exemption (DA 6ª LIS)

As established in the sixth Additional Provision of the LIS , positive income derived from the transfer of urban real estate that has the status of non-current asset will be 50 percent exempt. or that have been classified as non-current assets held for sale and that have been acquired for consideration from May 12, 2012 to December 31, 2012, without forming part of the income with the right to exemption the amount of impairment losses relating to the properties nor the amounts corresponding to the reversal of excess depreciation that has been tax deductible in relation to the recorded depreciation.

Cases of real estate acquired or transferred by persons or entities with certain corporate ties (article 42 of the Commercial Code) or relationships indicated therein are excluded from the application of this provision.

Taxpayers who are eligible for this exemption will exercise the enjoyment of it by including in code [00519] (decrease) 50 percent of the positive income derived from the transfer of the properties (not excluded from the application) referred to, without the losses due to deterioration relating to such transferred properties being part of these income, as well as the amounts corresponding to the reversal of the excess depreciation that has been tax deductible in relation to the recorded depreciation.