Assumptions of capital gains that, by express provision of the Personal Income Tax Law, are taxed as income

As cases of capital gains that, by express provision of the Personal Income Tax Law , are taxed as income the following may be cited, among others:

• Constitution or transfer of rights or powers of use or enjoyment over real estate, which are legally classified as income from real estate capital, or over securities or shares that represent participation in the equity of an entity, which constitute income from movable capital.

  See, within Chapter 5, the section "Income from participation in equity any type of entity

• Transmission, reimbursement, amortization, exchange or conversion of any type of assets representing the raising and use of external capital, which only generate capital gains.
• Results derived from capitalisation operations and life or disability insurance contracts, which give rise to income from movable capital, unless they come from social security systems, in which case they give rise to employment income.

  The social security systems whose benefits constitute employment income are detailed in Chapter 3 of this Manual.