Specific valuation standards

In cases of exchange of assets or rights, including the exchange of securities, the capital gain or loss will be determined by the difference between the acquisition value of the asset or right that is transferred and the greater of the following two :

• The market value of the good or right delivered.
• The market value of the good or right that is received in exchange.

Special case: exchange of land for flats or premises to be built on the same

In this case, the capital gain or loss of the owner of the land will occur at the moment in which it is transferred and will be determined by applying the previously mentioned rule.

Once the capital gain or loss obtained has been determined, the taxpayer may choose to pay taxes in the tax period in which the capital alteration takes place (transmission of the land) or to allocate it proportionally as the buildings are delivered or, where appropriate, case, receive payments in cash, provided that there is more than one year between the transfer of the land and the delivery of the buildings or the cash, by application of the special rule of temporal allocation of installment operations or with deferred payment.

Goods or rights delivered acquired before December 31, 1994

In this case, if a capital gain is obtained, the part of the capital gain that was generated prior to January 20, 2006 (the only one to which the reduction or reduction coefficients are applicable) must be distinguished from that generated later. to that date on which the reduction or abatement coefficients are not applicable.

The determination of the capital gain generated prior to January 20, 2006 and the application, where applicable, of the reducing coefficients will be carried out in accordance with the distribution rules discussed herein Chapter.