Capital gains not subject to personal income tax
Capital gains subject to Inheritance and Donation Tax
Regulations: Art. 6.4 Law Personal Income Tax
The capital gains derived from the acceptance of donations, inheritances or legacies are declared not subject to Personal Income Tax , to avoid double taxation on them, as they are subject to the Inheritance and Donation Tax.
Part of the capital gains generated before January 20, 2006 derived from assets acquired before December 31, 1994 .
Regulations: transitional provision ninth Law Personal Income Tax
The part of the capital gain (but not the losses) generated prior to January 20, 2006 derived from assets not affected by economic activities that as of December 31, 1996 would have remained in the taxpayer's assets for a period of time is not subject to personal income tax. period of time, rounded up, greater than:
5 years , in the case of 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 April 21 of 2004, relating to the markets of financial instruments, and representative of the participation in the own funds of companies or entities, with the exception of shares representing the capital stock of Real Estate and Real Estate Investment Companies.
Note that Directive 2004/39/EC referred to in the ninth transitional provision of the Personal Income Tax Law has been repealed with effect from January 3, 2017 by Directive 2014/65. / EU of the European Parliament and of the Council, of May 15, 2014, relating to 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.
10 years , if it involves real estate and rights over it or securities of the entities included in the current article 314 of the consolidated text of the Securities Market Law, approved by the 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.
Article 108 of Law 24/1988, of July 28, on the Securities Market, together with the rest of its provisions, have been incorporated into the consolidated text of the Securities Market Law, approved by Royal Legislative Decree 4/2015. , October 23.
8 years , for the rest of the assets and rights.
Note: Since January 1, 2015, a maximum and joint limit of 400,000 euros has been established for all assets to which the above applies, which operates on the transfer value. Its application is discussed in the section " Determination of the amount of capital gains or losses " of this chapter.