3.3. Application of the corresponding reduction or abatement coefficients
Once the amount of the reducible capital gain has been determined, the corresponding reduction or reduction coefficients are applied, depending on the nature of the capital element from which the capital gain derives, and the applicable reduction is determined.
To this end, it is necessary to distinguish between:
Shares admitted to trading on one of the official secondary securities markets defined in Directive 2004/39/EC of the European Parliament and of the Council of 21 of April 2004 relating to the markets of financial instruments, and representative of the participation in own funds of companies or entities, with the exception of shares representing the capital stock of Real Estate and Personal Investment Companies: The applicable reduction is 25 percent for each year of permanence that exceeds two from its acquisition until December 31, 1996 .
Directive 2004/39/EC has been repealed with effect from 3 January 2017 by Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments. This, in its article 94, provides that references to Directive 2004/39/EC will be understood as references to Directive 2014/65/EU.
Real estate , rights on the same or securities of the entities included in article 314 of the consolidated text of the Securities Market Law, approved by Royal Legislative Decree 4/2015, of October 23 (BOE of 24), with the exception of shares or participations representing the share capital or assets of Real Estate Investment Companies or Funds: The applicable reduction is 11.11 percent for each year of permanence that exceeds two from its acquisition until December 31, 1996.
Keep in mind that, although the ninth transitional provision of the Personal Income Tax Law refers to article 108 of Law 24/1988, of July 28, on the Securities Market, said article together with the rest of the provisions of the aforementioned law (currently repealed) have been incorporated into the consolidated text of the Securities Market Law, approved by Royal Legislative Decree 4/2015, of October 23.
- The rest of goods and rights , the applicable reduction is 14.28 percent for each year of permanence that exceeds two from its acquisition until December 31, 1996 . This group of assets and rights includes, among others, shares or participations representing the share capital or assets of Investment, Furniture and Real Estate Companies or Funds.
The following table shows the reducing percentages applicable to the reducible capital gain depending on the nature of the asset element that generates it and the period of permanence of the element in the taxpayer's assets as of December 31, 1996.
Years up to 12-31-1996
Date of acquisition
Nature of the heritage element transmitted
Securities admitted to trading
|Up to 2||12-31-1994 to 12-31-1996||0.00%||0.00%||0.00%|
|Until 3||12-31-1993 to 12-30-1994||25.00%||11.11%||14.28%|
|Up to 4||12-31-1992 to 12-30-1993||50.00%||22.22%||28.56%|
|Up to 5||12-31-1991 to 12-30-1992||75.00%||33.33%||42.84%|
|Up to 6||12-31-1990 to 12-30-1991||100.00%||44.44%||57.12%|
|Up to 7||12-31-1989 to 12-30-1990||100.00%||55.55%||71.40%|
|Up to 8||12-31-1988 to 12-30-1989||100.00%||66.66%||85.68%|
|Up to 9||12-31-1987 to 12-30-1988||100.00%||77.77%||100.00%|
|Up to 10||12-31-1986 to 12-30-1987||100.00%||88.88%||100.00%|
|Up to 11||12-31-1985 to 12-30-1986||100.00%||100.00%||100.00%|
Remember: The related reduction percentages do not apply in any case to capital losses or to the part of the capital gain generated from January 20, 2006 until the date of the transfer.
According to the above, the part of the capital gains from assets or rights acquired before December 31, 1996 an advance notice greater than ## is not subject to 1## Personal Income Tax ## :
5 years, in the case of shares admitted to trading on official secondary markets. That is, those acquired before December 31, 1991.
10 years, if it involves real estate and rights over it . That is, those acquired before December 31, 1986.
- 8 years, for the rest of the assets and rights . That is, those acquired before December 31, 1988.
Provided that the transfer value of all the assets to whose capital gain this regime would have been applicable, transferred from January 1, 2015 to the date of transfer of the assets, does not exceed 400,000 euros.