Exempt capital gains
gains that are revealed on the occasion :
A. Donations of goods with the right to deduction in the quota
Regulations: Art. 33.4.a) Law Personal Income Tax
Capital gains that may be derived from donations of assets that meet the requirements to give the right to make the corresponding deduction in the quota are declared exempt for the donor, so they should not be included in the declaration.
See, within Chapter 16, in the section " Deduction for donations ", the requirements and conditions related to donations of goods.
B. Transfer of habitual residence by people over 65 years of age or by people in a situation of severe or high dependency
Regulations: Art. 33.4.b) and Fifteenth Additional Provision of the Personal Income Tax Law
The gain derived from the transfer, onerous or lucrative, of the habitual residence of taxpayers over 65 years of age should not be included in the tax base, whether the habitual residence is transferred in exchange for capital or in exchange for a income, temporary or life. The exemption also applies to the transfer of bare ownership of the primary residence by its owner over 65 years of age, with the latter reserving the lifetime usufruct on said dwelling.
Unlike the above, when the full ownership of a home is divided between the bare owner and the usufructuary, none of them will be subject to the exemptions provided for on the occasion of its transfer, even in the case of from your habitual residence.
In identical terms, the capital gain derived from the transfer of the habitual residence carried out by people in a situation of severe or great dependency is also declared exempt in accordance with the Law for the promotion of personal autonomy and care for people in a situation of dependency. .
Note: For the exclusive purposes of the application of this exemption, it will be understood that the taxpayer is transferring his or her habitual residence when it constitutes his or her habitual residence at that time or would have had such consideration until any day of the two years prior to the date of the transfer. .
See the concept of habitual residence for the purposes of this exemption contained in the twenty-third Additional Provision of the Personal Income Tax Law
C. Delivery of Historical Heritage assets in payment of Personal Income Tax
Regulations: Art. 33.4.c) Law Personal Income Tax
In the cases in which the payment of the tax debt corresponding to Personal Income Tax is made, in accordance with the provisions of article 73 of Law 16/1985, of June 25, on Heritage Historical Spanish, through the delivery of assets that are part of the aforementioned Historical Heritage, is exempt from Personal Income Tax the capital gain that may be revealed by the difference between the acquisition value of the delivered asset and the amount of the Tax debt.
D. Dation in payment for the habitual residence
Regulations: Art. 33.4.d) of the Personal Income Tax Law
Capital gains in which the following circumstances occur are declared exempt from Personal Income Tax :
When they are established at the time of the transfer of the debtor's or the debtor-guarantor's main residence.
When the transfer of the residence is carried out through a dation in payment, or in a judicial or notarial foreclosure.
When the purpose of such is the cancellation of debts guaranteed with a mortgage pertaining to the main residence, contracted with credit institutions or any other entity that professionally carries out the activity of granting loans or mortgages.
In any case, the owner of the main residence must not have other goods or rights that could satisfy the total amount of the debt and prevent the alienation of the property.
E. Capital gains from the transfer of certain properties
Regulations: Thirty-seventh Additional Provision of the Personal Income Tax Law
% of capital gains arising from the transfer of urban real estate acquired for consideration between May 12, 2012 and December 31, 2012.
The exemption applies to urban properties regardless of whether they are used in relation to economic activities.
This partial exemption is not applicable when the taxpayer has acquired or transferred the property to his spouse, to any person linked to him by kinship, in a direct or collateral line, by consanguinity or affinity, up to the second degree included, to an entity with respect to which occurs, with the taxpayer or with any of the aforementioned persons, any of the circumstances established in article 42 of the Commercial Code, regardless of residence and the obligation to prepare consolidated annual accounts.
In cases of reinvestment when the property transferred is the taxpayer's habitual residence and the amount reinvested is less than the total amount received in the transfer, the proportional part of the capital gain obtained will be excluded from taxation, once the exemption provided for in this Additional Provision, which corresponds to the amount reinvested in the terms and conditions provided for the exemption for reinvestment of habitual residence in article 38 of the Personal Income Tax Law . That is, the exemption of 50 percent of the gain obtained in the transmission will be applied first. The proportional part corresponding to the reinvested amount will be exempt from the other 50 percent of the profit.
The conditions and requirements for the application of this exemption are discussed in section Earnings excluded from taxation in reinvestment cases , of this same Chapter.
F. Exemption for shares or participations in newly or recently created entities acquired before September 29, 2013
Regulations: transitional provision twenty-seventh Law Personal Income Tax
Taxpayers who obtain capital gains that become evident on the occasion of the transfer of shares or participations in newly or recently created entities acquired from July 7, 2011 to September 29, 2013, and that have remained in the taxpayer's assets for a period of more than three years (counted from date to date) may apply the exemption provided for in Additional Provision thirty-four of the Personal Income Tax Law in its wording in force as of December 31, 2012 , provided that the requirements and conditions established in said Additional Provision are met.
G. Income obtained by the debtor in bankruptcy proceedings
Regulations: Additional Provision forty-third Law Personal Income Tax
Income obtained by debtors that is revealed in bankruptcy procedures of Law 22/2003, of July 9, and from September 1, 2020, in Royal Legislative Decree 1/2020, of May 5, are exempt. , which approves the consolidated text of the Bankruptcy Law, as a consequence of:
Reductions and dations in payment of debts established in :
Judicially approved agreement.
Judicially approved refinancing agreement referred to in article 71 bis and the fourth Additional Provision of Law 22/2003, of July 9, Bankruptcy and, as of September 1, 2020, includes Title II of the second book, articles 596 to 630, of Royal Legislative Decree 1/2020, of May 5, which approves the consolidated text of the Bankruptcy Law,
Extrajudicial payment agreement referred to in Title Legislative 1/2020, of May 5, which approves the consolidated text of the Bankruptcy Law.
Exemptions from unsatisfied liabilities referred to in article 178 bis of Law 22/2003 and from September 1, 2020, Chapter II of Title XI of the first book, articles 486 to 502, of Royal Legislative Decree 1/2020, of May 5, which approves the consolidated text of the Bankruptcy Law.
In all cases, it is a necessary requirement for income to be declared exempt that the debts do not arise from the exercise of economic activities .
In the case of debts arising from the exercise of economic activities, the regime is provided for in Law 27/2014, of November 27, on Corporate Tax.
Regarding the imputation criterion in the case of losses derived from overdue and uncollected credits, when a haircut established in a judicially comparable refinancing agreement, or in an extrajudicial payment agreement, becomes effective, see article 14.2.k) of the Law of IRPF .
You can consult, for purely informative purposes, the table of correspondence of the precepts of Law 22/2003, of July 9, Bankruptcy, with those of the consolidated text of the Bankruptcy Law, approved by Royal Legislative Decree 1/2020, of 5 May, by virtue of the third Additional Provision of the same, through the website of the Ministries of Justice and of Economic Affairs and Digital Transformation .
H. Aid to offset costs in buildings affected by the release of the digital dividend
Regulations: Additional Provision Fifth Law of Personal Income Tax
The aid granted under the provisions of Royal Decree 920/2014, of October 31, which regulates the direct granting of subsidies intended to compensate for the costs derived from the reception or access to television audiovisual communication services in the buildings affected by the release of the digital dividend.
I. Subsidies and aid for energy rehabilitation actions in buildings
Regulations: Additional Provision 5.4 Personal Income Tax Law
The aid granted for energy rehabilitation actions in buildings, under the programs established in the following Royal Decrees, will not be integrated into the personal income tax tax base in the 2021 financial year and following:
Royal Decree 691/2021, of August 3, which regulates the subsidies to be granted for energy rehabilitation actions in existing buildings, in execution of the Energy Rehabilitation Program for existing buildings in municipalities with a demographic challenge (PREE 5000 Program), included in the Regeneration and Demographic Challenge Program of the Urban Rehabilitation and Regeneration Plan of the Recovery, Transformation and Resilience Plan, as well as its direct concession to the autonomous communities;
Royal Decree 737/2020, of August 4, which regulates the aid program for energy rehabilitation actions in existing buildings and regulates the direct granting of aid from this program to the autonomous communities and cities of Ceuta and Melilla ;
Royal Decree 853/2021, of October 5, which regulates the aid programs for residential rehabilitation and social housing of the Recovery, Transformation and Resilience Plan.
J. Exempt gains from reinvestment
Regulations: Art. 38 Law of Personal Income Tax
See its specific section in this Chapter.