Exemption

Regulations: Art. 38. 2 and Additional Provision thirty-eighth Law PIT; art. 41 Regulation

Capital gains that arise from the transfer of shares or interests are declared exempt. for which the deduction for investment in newly or recently created companies provided for in article 68.1 of the Law of the PIT

The right to exemption will only be granted when the amount obtained from the aforementioned transfer is reinvest in the acquisition of shares or participations in another newly or recently created entity that meets the requirements and conditions set forth in numbers 2, 3 and 5 of article 68.1 of the Law of PIT (requirements on the entity in which the investment is made, regarding the shares and participations that are acquired and formal) that are discussed in the section "Deduction for investment in newly created or recently created companies" from Chapter 16, to which we refer.