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Practical Income Manual 2022.

Determination of net return

The net return is determined by the difference between the full returns and the administration and deposit expenses of negotiable securities.

The operations necessary to determine the amount of the net return on movable capital that is integrated into the savings tax base are represented in the following scheme:

(+) FULL PERFORMANCE

  1. Interest and other agreed or estimated remuneration

    • monetary remuneration : Full amount
    • Remuneration in kind: Valuation + Payment to account not passed on
    • Estimated returns . In the absence of proof to the contrary, 3% for the year 2022 of the value of the assets and/or rights.

  2. Operations on financial assets (implicit returns):

    RCM= Disposal or reimbursement value - Acquisition or subscription value  

    (*) The amount of expenses and taxes inherent to said operations paid, which are adequately justified, is taken into account, without such consideration being given to withholdings or payments on account made.

(-) ADMINISTRATION AND DEPOSIT EXPENSES OF NEGOTIABLE SECURITIES

(=) NET INCOME