Determination of the amount of positive income to be attributed and the moment in which the imputation must be made
Determination of the amount of positive income to be imputed
Regulations: Art. 91.7, 10 and 12.c) Law Personal Income Tax
Positive income amount
The amount of positive income to be allocated to the tax base will be calculated in accordance with the principles and criteria established in the regulations governing Corporate Tax for the determination of the tax base, using the exchange rate in force at the end of the fiscal year. the non-resident entity in Spanish territory.
When the investee entity is resident in a country or territory classified as a non-cooperative jurisdiction, it will be presumed, unless proven otherwise, that the income obtained by the investee entity is 15 percent of the acquisition value of the participation.
Once the amount of positive income has been determined, the imputation will be made to the general tax base in proportion to the participation of the resident natural person in the results of the non-resident entity and, failing that, in proportion to the participation in the capital, own funds or voting rights of the entity.
In the event that the taxpayer indirectly participates in the resident entity through one or more non-resident entities, the amount of positive income to be imputed will be that corresponding to the indirect participation.
In no case will an amount greater than the total income of the non-resident entity be imputed.
Tax period in which the imputation must be made
Regulations: Art. 91.6 Law Personal Income Tax
The imputation will be made in the tax period that includes the day on which the non-resident entity has concluded its fiscal year which, for these purposes, cannot be understood to last longer than 12 months.