Net performance

(+) Full returns:

• The amount that the acquirer, assignee, lessee or subtenant must pay for all concepts, including, where applicable, the amount corresponding to all those assets transferred with the property.
• In the absence of proof or in the case of linked operations, the valuation of said returns will be carried out at their normal market value.
• When received from family members, be it the spouse or relatives, including relatives, up to and including the third degree, the total net income may not be less than the imputed income derived from said property.

(-) Expenses necessary to obtain income (excluding VAT or IGIC if the lease is subject to and not exempt from VAT ):

• Interest and other financing costs

• Maintenance and repair costs

  • * Limit of the two previous expenses: They cannot exceed, for each asset or right, the amount of the full income obtained.
  • * Excess over the limit: The excess can be deducted in the following four years
• Taxes, surcharges and fees
• Doubtful balances
• Insurance contract premiums
• Supplies
• Contract formalization costs
• Legal defense expenses.
• Amounts accrued by third parties as a result of personal services (including administration, porterage).
• Other necessary tax-deductible expenses

(-) Amounts intended for amortization:

• Property: 3 percent of the highest of the following values:

  1. Acquisition cost satisfied that corresponds to the construction
  2. Cadastral value, excluding land value

• Movable property transferred together with the property: Order of March 27, 1998

• Rights or powers of use or enjoyment of real estate

  1. Of fixed duration: acquisition cost between the number of years of duration.
  2. Lifelong: 3 percent of the acquisition cost satisfied

  Depreciation expense limit in this case : the full returns derived from each right or faculty

(=) Net return on real estate capital