Exemption

Regulations: Art. 38. 2 and Additional Provision thirty-eighth Personal Income Tax Law; art. 41 Regulations.

The capital gain that is revealed on the occasion of the transfer of shares or participations for which the deduction for investment in new or recently created companies provided for in article 68.1 of the Law has been made, is declared exempt. of personal income tax.

You will only be entitled to the exemption when the amount obtained from the aforementioned transfer is einvested in the acquisition of shares or participations in another newly or recently created entity that meets the requirements and conditions provided for in numbers 2. º, 3.º and 5.º of article 68.1 of the Personal Income Tax Law (requirements on the entity in which it is invested, regarding the shares and participations that are acquired and formal) that are discussed in the section "Deduction for investment in new or recently created companies" of Chapter 16, to which we refer.